10-Q - Inmune Bio, Inc. (0001711754) (Filer)
Thu, Oct 31, 8:03 PM (5 days ago)
**INmune Bio Inc. (INMB) Q3 2024 Summary:** For the quarter ending September 30, 2024, INmune Bio reported no revenue, a decline from $43,000 in Q3 2023. Operating expenses surged to $12.3 million, driven primarily by a $4.1 million increase in research and development (R&D) costs, particularly for Alzheimer’s clinical trials. The net loss expanded to $12.1 million, compared to a $8.6 million loss in the prior year. Cash and cash equivalents decreased to $33.6 million from $35.8 million at year-end 2023. The company utilized $22.3 million in cash for operations, reflecting ongoing investment in R&D. Despite raising $25.4 million through equity offerings, liquidity concerns persist, with projections indicating insufficient capital to sustain operations for the next year without further financing. Management highlights ongoing clinical trials for Alzheimer’s and cancer therapies, emphasizing the need for additional funding to support future operations. The company remains classified as an emerging growth entity, allowing for reduced disclosure requirements. Overall, INmune Bio continues to face significant financial challenges amidst ambitious R&D efforts in a competitive biotech landscape.