INmune Bio reports $24.5M net loss, announces leadership changes

INmune Bio Inc. (NASDAQ: INMB) reported a net loss of $24.5 million for the second quarter ended June 30, 2025, compared to a $9.7 million loss in the same period last year, according to financial results released by the clinical-stage immunology company.

The company announced significant management changes, with Dr. RJ Tesi retiring as CEO and David Moss being appointed as President and CEO. Kelly Ganjei was named Chairman of the Board, while Cory Ellspermann took on the role of Interim CFO.

Research and development expenses decreased to $5.8 million from $7.1 million year-over-year, while general and administrative expenses fell to $2.3 million from $2.8 million. The company recorded a $16.5 million impairment of acquired in-process research and development intangible assets during the quarter, compared to none in the prior year period.

INmune Bio released data from its MINDFuL phase 2 trial testing XPro in 208 patients with mild cognitive impairment and early Alzheimer's disease. While the trial missed its primary cognitive endpoints in the full patient population, the company reported positive impact on the primary cognitive endpoint in a subset of 100 patients with inflammation biomarkers.

The company closed a $19 million registered direct offering during the quarter. As of June 30, 2025, INmune Bio held $33.4 million in cash and cash equivalents, with approximately 26.6 million common shares outstanding as of the earnings announcement date.

INmune Bio plans to file for an end-of-phase 2 meeting with the FDA regarding the MINDFuL trial in the fourth quarter and remains on track to file regulatory applications for its CORDStrom product in the UK and US by mid-2026.

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