{"id":451293,"date":"2021-03-04T16:18:13","date_gmt":"2021-03-04T21:18:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451293"},"modified":"2021-03-04T16:18:13","modified_gmt":"2021-03-04T21:18:13","slug":"inmune-bio-inc-announces-fourth-quarter-and-full-year-2020-results-and-provides-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/inmune-bio-inc-announces-fourth-quarter-and-full-year-2020-results-and-provides-business-update\/","title":{"rendered":"INmune Bio, Inc. Announces Fourth Quarter and Full Year 2020 Results and Provides Business Update"},"content":{"rendered":"

\nCompany to host conference call today, March 4, at 4:30pm ET
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LA JOLLA, Calif., March 04, 2021 (GLOBE NEWSWIRE) — INmune Bio, Inc.<\/u><\/strong><\/a>\u00a0(NASDAQ: INMB) (the \u201cCompany\u201d), a clinical-stage immunology company focused on\u00a0developing treatments that harness the patient\u2019s innate immune system to fight disease, today reported its financial results for the year ended December 31, 2020 and provided a business update.<\/p>\n

\u201cA key highlight since our last quarterly update is the updated interim data announced from our ongoing Phase 1b study evaluating XPro1595 in Alzheimer\u2019s disease in January,\u201d stated RJ Tesi, M.D., chief executive officer of INmune Bio. \u201cThese data demonstrate that XPro1595 decreases neuroinflammation using multiple biomarkers of inflammation in patients with Alzheimer\u2019s disease. We also gained insight into the consequences of decreasing neuroinflammation in these patients for extended period of time which includes decrease in biomarkers on neurodegeneration and improvement of biomarkers of synaptic function. We remain committed to initiating a Phase 2 study later this year.<\/p>\n

\u201cOur Phase 2 trial of Quellor for the treatment of for pulmonary complications patients with COVID-19 continues to enroll patients. While the emergence of safe and effective vaccines appears to be having an impact on infection and hospitalization rates, effective treatment of serious complications remains a significant unmet need. Both the TRD program with XPro1595 and the INKmune program to treat patients with high-risk MDS will begin to enroll patients once the pandemic is better controlled in the US and UK, respectively. We look forward to data from these important studies.<\/p>\n

\u201cFinally, we strengthened our balance sheet by raising an additional $28.4 million of net proceeds from the sale of 1,439,480 shares of common stock at an average price of $20.17 through our ATM during January and February 2021, which provides additional capital to fund the Company into 2022.\u201d<\/p>\n

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