INmune Bio downgraded to Underperform from Outperform at Scotiabank

Scotiabank downgraded INmune Bio (INMB) to Underperform from Outperform with a price target of 60c, down from $23, based on the failure of lead drug XPro to demonstrate clinical improvements in the company’s Phase 2 Alzheimer’s disease trial. The firm think management’s plan of securing CORDStrom FDA approval for treatment of recessive dystrophic epidermolysis bullosa has a “very low chance of success,” the analyst tells investors.