INmune Bio: Undervalued Pipeline with 2026 Clinical and Regulatory Catalysts Driving Buy Rating

Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Inmune Bio. The associated price target remains the same with $8.00.

Jason McCarthy has given his Buy rating due to a combination of factors tied to INmune Bio’s advancing clinical and regulatory catalysts. He highlights that 2026 should be an active year, with CORDStrom moving toward key submissions in recessive dystrophic epidermolysis bullosa, first via a marketing application in the UK and then a biologics license filing in the US. CORDStrom’s phase 2 data in pediatric patients showed meaningful improvements in itch, quality of life, and wound care, and the program benefits from both Orphan Drug and Rare Pediatric Disease designations, enhancing its potential strategic and economic value. McCarthy underscores that RDEB is a systemic condition and that existing gene therapy approaches focus largely on surface wound healing, leaving an unmet need that a systemic mesenchymal stem cell therapy like CORDStrom could address.

In Alzheimer’s disease, he notes that although the phase 2 trial did not meet its primary endpoint last summer, XPro produced a notable treatment effect on a cognitive measure in biomarker-selected patients over six months, with an effect size that compares favorably to currently approved agents such as Lecanemab and Donanemab at later time points. The upcoming end-of-phase 2 meeting and regulatory guidance expected by the end of the first quarter of 2026 represent important value-inflecting events for the XPro program. From a financial standpoint, McCarthy points out that INmune ended the third quarter of 2025 with approximately $27.7 million in cash and anticipates funding runway into 2027, allowing the company to pursue these milestones without immediate financing pressure. Given the pullback in the stock over the past year, particularly after the Alzheimer’s phase 2 outcome, he believes the current valuation does not fully reflect the pipeline’s prospects, setting up potential upside as 2026 catalysts unfold.

McCarthy covers the Healthcare sector, focusing on stocks such as Plus Therapeutics, Co-Diagnostics, and SELLAS Life Sciences Group. According to TipRanks, McCarthy has an average return of -15.2% and a 29.58% success rate on recommended stocks.