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INmune Bio (INMB) investor relations material
INmune Bio Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Leadership changes in 2025 included new CEO, CFO, and Chairman appointments, with a focus on advancing CORDStrom, XPro, and INKmune platforms targeting RDEB, Alzheimer's, and oncology.
CORDStrom completed pivotal and pilot-scale manufacturing runs for RDEB, showing systemic benefit and preparing for regulatory filings in the UK, US, and EU.
XPro completed Phase 2 in Alzheimer's; while the trial did not meet primary endpoints, a biomarker-defined subgroup showed benefit, and no ARIA safety signals were observed.
INKmune completed Phase 2 in prostate cancer, meeting primary and two secondary endpoints, with final data expected Q4 2025.
All operations are reported as a single segment focused on clinical-stage biotechnology development.
Financial highlights
Net loss for Q3 2025 was $6.5M, down from $12.1M in Q3 2024; net loss for the nine months ended September 30, 2025, was $40.7M, up from $32.9M year-over-year, including a $16.5M impairment for XPro.
R&D expenses for Q3 2025 were $4.9M, down from $10.1M year-over-year; for the nine months, R&D was $18.3M, down from $25.8M.
G&A expenses for Q3 2025 were $2.5M, up from $2.2M; for the nine months, $7.1M, slightly down from $7.4M.
Cash and equivalents stood at $27.7M as of September 30, 2025.
Revenue for Q3 2025 was $50,000, up from $14,000 in Q3 2024.
Outlook and guidance
CORDStrom MAA filing in the UK expected mid-2026, with BLA filing in the US to follow; additional data to be presented in Q4 2025.
XPro end of Phase 2 meeting with FDA and MRI data anticipated in Q1 2026; further development paused pending partnership.
INKmune randomized Phase 2 trial design to be developed in 2026 as resources allow; final CARE-PC trial data expected Q4 2025.
Expects continued significant losses and negative cash flows; current cash projected to be insufficient for one year from financial statement issuance.
Plans to seek additional funding through equity, debt, partnerships, or other sources.
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