As previously reported, Raymond James downgraded INmune Bio (INMB) to Market Perform from Outperform and removed the firm’s prior $23 price target after XPro Phase 2 data in early Alzheimer’s disease “missed the mark.” An effect size was shown in a subset of patients with greater neuroinflammation, but the study did not hit the primary endpoint and the firm sees greater risk to this “key program” moving forward, the analyst tells investors.
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