Biotech INmune BIO (INMB) Collapses 60% after Alzheimer’s Trial Misses Goals

Shares in clinical-stage biotechnology company INmune Bio (INMB) collapsed over 60% today as it revealed mixed data from its experimental Alzheimer’s drug.

Failed Aims

INMB said the drug, called XPro, had failed to improve cognitive functions in patients with early stages of the disease in a mid-stage study.

The company, which recently announced a Q1 net loss of $9.7 million, had hoped that the drug would target and inhibit inflammatory signals associated with a type of protein called tumor necrosis factor without suppressing the immune system.

The study enrolled 208 patients with mild Alzheimer’s disease, or mild cognitive impairment, an early sign of the disease, who were randomly chosen to receive a weekly subcutaneous injection of XPro or a placebo for 24 weeks.

The drug was safe and well-tolerated, the company said, with injection site reactions the most common adverse event.

Some Positive Signs

Indeed, the company did highlight positive effects in a predefined subgroup of 100 patients with two or more biomarkers of inflammation.

Despite the disappointing primary outcome, INmune Bio’s CEO RJ Tesi expressed optimism about the findings, stating that XPro may benefit Alzheimer’s patients across all age groups regardless of comorbidities or medications.

The company plans to file for Breakthrough Therapy Designation with the U.S. Food and Drug Administration (FDA) and schedule an End-of-Phase 2 meeting in the fourth quarter of this year to discuss the path forward for a pivotal trial.

There are currently over 55 million people worldwide living with Alzheimer’s disease and other forms of dementia.

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