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Inmune Bio
(NASDAQ:INMB)
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Rating:52Neutral
Price Target:
$2.00
▼(-17.70% Downside)
Action:Reiterated
Date:09/15/26
INMB scores as a higher-risk, milestone-driven biotech: the largest drag is weak financial performance (minimal revenue, ongoing losses and cash burn), partially offset by a relatively low-debt balance sheet. The earnings call and recent events add support through clearer regulatory/manufacturing execution and near-term catalysts, while technicals are neutral-to-mildly constructive and valuation is constrained by negative earnings and no dividend.
Positive Factors
Regulatory de-risking
Formal MHRA alignment and a defined sequence of UK, European and U.S. submissions reduce regulatory uncertainty around Ebstracel. The approved pediatric plan and agency feedback provide a clearer development path, supporting execution over the next several quarters.
Negative Factors
Pre-commercial financial model
The absence of meaningful product revenue means INMB has not yet demonstrated commercial demand or self-funded operating capacity. Substantial recurring losses leave results dependent on successful clinical execution, future approvals and access to external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory de-risking
Formal MHRA alignment and a defined sequence of UK, European and U.S. submissions reduce regulatory uncertainty around Ebstracel. The approved pediatric plan and agency feedback provide a clearer development path, supporting execution over the next several quarters.
Read all positive factors
Inmune Bio (INMB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$56.90M
Dividend YieldN/A
Average Volume (3M)346.20K
Price to Earnings (P/E)―
Beta (1Y)1.33
Revenue Growth-100.00%
EPS Growth72.25%
CountryUS
Employees21
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.69
Shares Outstanding27,753,790
10 Day Avg. Volume271,343
30 Day Avg. Volume346,199
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)1.76
Price to Sales (P/S)829.46
P/FCF Ratio-1.76
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$8.00Price Target Upside229.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.6
Revenue Forecast (FY)N/A
Inmune Bio Business Overview & Revenue Model
Company Description
INmune Bio, Inc. is a clinical-stage biotechnology company focused on developing novel immunotherapies. Its primary objective is to harness the body's innate immune system to combat various illnesses. The company is actively engaged in developing ...
How the Company Makes Money
As a clinical-stage biotechnology company, Inmune Bio has not established a recurring product-sales business and, to date, its ability to generate revenue from commercialized therapeutics is null (no marketed products publicly indicated). The comp...
Inmune Bio Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed strong program‑level de‑risking and tangible operational progress: formal MHRA alignment, pediatric plan approval, manufacturing readiness for Ebstracel, strengthened IP and SAB, and encouraging XPro Phase 2 imaging results with FDA Fast Track designation. Financially the quarter showed a large improvement in reported loss driven by nonrecurring items and R&D rebates, and management is controlling burn. Major near‑term milestones (UK MAA submission, EMA and US filings) are well defined. Principal concerns are a limited cash runway into Q2 2027, reliance on one‑time rebates, enrollment pace for the confirmatory trial, and financing/valuation uncertainty that could lead to dilution. On balance, the operational and clinical accomplishments outweigh the financial timing risks, but successful execution of filings and financing will be critical.Positive Updates
Regulatory alignment with MHRA and pediatric plan approval
MHRA provided formal alignment across CMC, nonclinical, and clinical packages and recognized MISSION EV data as demonstrating clinically meaningful symptomatic benefits (pain and pruritus). MHRA approved the Ebstracel pediatric investigation plan in under 3 months, giving a defined path for a conditional MAA submission.
Negative Updates
Limited cash runway and need for additional funding
Cash and cash equivalents of ~$18.4M as of 06/30/2026 plus a ~$4.2M post‑period R&D rebate provide funds into Q2 2027. Management expects modest monthly burn (~$1.0M–$1.5M) but will likely require additional capital to sustain activities beyond that runway.
Read all updates
Q2-2026 Updates
Positive
Negative
Regulatory alignment with MHRA and pediatric plan approval
MHRA provided formal alignment across CMC, nonclinical, and clinical packages and recognized MISSION EV data as demonstrating clinically meaningful symptomatic benefits (pain and pruritus). MHRA approved the Ebstracel pediatric investigation plan in under 3 months, giving a defined path for a conditional MAA submission.
Read all positive updates
Company Guidance
Guidance from the call centered on near‑term regulatory and clinical milestones: INmune expects to submit the Ebstracel MAA to the UK MHRA by end‑Q3/early‑Q4 2026, the EMA in early 2027 and a U.S. BLA in Q1 2027, supported by MHRA alignment (CMC/nonclinical/clinical) and a pediatric investigation plan approved in <3 months; a follow‑on phase 3 open‑label confirmatory trial is planned at ~40–45 patients (≈33 already lined up), enrolling ~1–2 patients/week, running ~18 months with six total infusions (three treatment sessions), and data are expected around mid‑2028. Manufacturing and supply metrics include first commercial cord processed at the Cell & Gene Therapy Catapult (Stevenage), transfer of the MSC isolation stage to the intended commercial facility, an expanded Anthony Nolan agreement, and the CORDStrom patent entering the U.S. national phase; XPro progress includes FDA Fast Track and MINDFUL phase 2 imaging results (p=0.0028, Cohen’s d=0.46 ITT and 0.59 in biomarker‑enriched subgroup). Financial guidance/metrics: Q2 net loss ~$1.3M vs $24.5M prior year, R&D benefit ~$0.8M vs $5.8M expense prior, G&A ~$2.3M, cash and equivalents $18.4M as of 6/30/2026 plus ~$4.2M subsequent R&D rebate, cash runway into Q2 2027, burn of ~$1.0–1.5M/month, and ~27.8M shares outstanding; market/pricing figures cited: ~2–3K U.S. RDEB patients, ~800 UK patients, 10–15% severe RDEB, ~60% pediatric, and a target price of ~$400K–$500K per child per year (with PRV valuations discussed in the $150–200M range and company remarks of ~$102–110M).Inmune Bio Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 50.00K | 14.00K | 155.00K | 374.00K | 181.00K |
| Gross Profit | -108.00K | 50.00K | 14.00K | 155.00K | 374.00K | 181.00K |
| EBITDA | -18.21M | -45.85M | -41.53M | -267.00K | -1.35M | -1.19M |
| Net Income | -18.42M | -45.93M | -42.08M | -30.01M | -27.30M | -30.34M |
Balance Sheet | ||||||
| Total Assets | 26.84M | 32.35M | 39.56M | 57.00M | 81.80M | 99.94M |
| Cash, Cash Equivalents and Short-Term Investments | 18.41M | 24.75M | 20.92M | 35.85M | 52.15M | 74.81M |
| Total Debt | 1.41M | 1.03M | 384.00K | 10.44M | 15.31M | 15.23M |
| Total Liabilities | 6.48M | 8.83M | 7.46M | 18.86M | 21.69M | 19.72M |
| Stockholders Equity | 20.36M | 23.52M | 32.10M | 38.14M | 60.10M | 80.22M |
Cash Flow | ||||||
| Free Cash Flow | -16.30M | -23.62M | -33.36M | -11.98M | -22.69M | -43.50M |
| Operating Cash Flow | -14.97M | -22.58M | -33.36M | -11.98M | -22.69M | -28.50M |
| Investing Cash Flow | -766.00K | -1.04M | 0.00 | 0.00 | 0.00 | -15.00M |
| Financing Cash Flow | 816.00K | 27.61M | 18.21M | -4.22M | 729.00K | 96.36M |
Inmune Bio Technical Analysis
Negative
2.43
Price Trends
2.08
Negative
1.76
Positive
1.63
Positive
Market Momentum
0.05
Positive
42.59
Neutral
22.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INMB, the sentiment is Negative. The current price of 2.43 is above the 20-day moving average (MA) of 2.32, above the 50-day MA of 2.08, and above the 200-day MA of 1.63, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 42.59 is Neutral, neither overbought nor oversold. The STOCH value of 22.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INMB.
Inmune Bio Risk Analysis
Inmune Bio disclosed 59 risk factors in its most recent earnings report. Inmune Bio reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Inmune Bio Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $56.90M | -3.16 | -82.87% | ― | -100.00% | 72.25% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $39.56M | -3.98 | -45.89% | 0.37% | -100.00% | 68.62% | |
50 Neutral | $248.23M | -1.40 | -1032.19% | ― | 354.37% | -63.33% | |
49 Neutral | $37.34M | -0.34 | 411.46% | ― | -51.03% | -35.20% | |
42 Neutral | $38.56M | -0.08 | 77.63% | ― | 6.81% | 11.95% |
* Healthcare Sector Average
INMB
Inmune Bio
2.18
0.21
10.66%
VERU
Veru
2.39
-1.18
-33.05%
KPTI
Karyopharm Therapeutics
1.79
-3.94
-68.76%
CUE
Cue Biopharma
37.84
15.94
72.76%
CELU
Celularity
1.27
-0.92
-42.01%
JUNS
Jupiter Neurosciences, Inc.
3.01
-104.24
-97.19%
Inmune Bio Corporate Events
Business Operations and StrategyExecutive/Board Changes
Inmune Bio Adds Strategic Directors to Support Commercialization
Positive
Sep 14, 2026
On September 8, 2026, INmune Bio Inc. expanded its Board of Directors to seven members and appointed Sanofi rare-disease executive R. Duane Clark II and biopharma dealmaker James Sapirstein as independent directors, with both also joining the Nomi...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
INmune Bio Strengthens Cash Runway With R&D Rebates
Positive
Jul 31, 2026
On July 30, 2026, INmune Bio received an RD cash rebate of approximately $4.2 million from Australia, adding to about $0.4 million in rebates from the U.K. in June 2026, for total non-dilutive funding of roughly $4.6 million. These rebates, genera...
Business Operations and StrategyPrivate Placements and Financing
INmune Bio Executes Warrant Inducement and Extension Agreement
Positive
Jul 1, 2026
On June 30, 2026, INmune Bio entered into a warrant inducement agreement and a second amendment with certain holders of common stock purchase warrants issued in April 2024. The company offered these investors the chance to exercise 50% of their wa...
Business Operations and StrategyRegulatory Filings and Compliance
INmune Bio Advances Ebstrocel Toward UK Conditional Approval
Positive
Jun 23, 2026
On June 23, 2026, INmune Bio said the UK Medicines Healthcare products Regulatory Agency had provided written minutes from a May 12 pre-Marketing Authorization Application meeting that confirmed alignment on chemistry, manufacturing and controls,...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Inmune Bio Shareholders Reaffirm Board, Auditor and Incentive Plan
Positive
Jun 17, 2026
At its Annual Meeting held after April 20, 2026, Inmune Bio shareholders elected five directors—David Moss, J. Kelly Ganjei, Tim Schroeder, Scott Juda and Marcia Allen—to serve until the next shareholder meeting, reflecting continued s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.