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INmune Bio Inc. (INMB-3.84%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details INmune Bio's ongoing research and development efforts, including its DN-TNF platform targeting Alzheimer's Disease and Treatment Resistant Depression. The company is also developing INKmune for cancer treatment and CORDStrom for pediatric recessive dystrophic epidermolysis bullosa.
The company reported a net loss of $42.1 million for the year, compared to a net loss of $30.0 million in the previous year. Research and development expenses increased to $33.2 million from $20.3 million, driven by higher costs related to Alzheimer's clinical trials.
INmune Bio's cash and cash equivalents totaled $20.9 million as of December 31, 2024, down from $35.8 million at the end of 2023. The company anticipates the need for additional financing to fund its operations and continue its development programs.
During the year, INmune Bio raised approximately $27.8 million through registered direct offerings and at-the-market sales of common stock. The company also paid off its $15 million term loan in full.
INmune Bio's strategic focus includes advancing its clinical trials, seeking regulatory approvals, and exploring potential collaborations and partnerships to support its development and commercialization efforts.
The company acknowledges the risks associated with its business, including the need for additional capital, competition in the biotechnology industry, and the uncertainty of regulatory approvals for its product candidates.
The filing also discusses INmune Bio's intellectual property strategy, which includes patents and licenses for its product candidates, as well as potential challenges in protecting its proprietary technologies.
INmune Bio's management has expressed substantial doubt about the company's ability to continue as a going concern, citing its recurring losses and negative cash flows from operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the INmune Bio Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.