INmune Bio(US:INMB)2024-11-01 20:23Financial Performance - Net loss attributable to common stockholders for Q3 2024 was approximately $12.1 million, compared to $8.6 million in Q3 2023, representing an increase of 40.7%[17] - Total revenue for the nine months ended September 30, 2024, was $30,000, compared to $43,000 for the same period in 2023, representing a decrease of 30.23%[29] - Net loss for the nine months ended September 30, 2024, was $32,864, compared to a net loss of $21,600 for the same period in 2023, reflecting an increase of 52.00%[31] - The company reported a net cash used in operating activities of $22,348 for the nine months ended September 30, 2024, compared to $8,579 for the same period in 2023, an increase of 160.00%[31] Research and Development - Research and development expenses totaled approximately $10.1 million for Q3 2024, up from approximately $6.0 million in Q3 2023, indicating a year-over-year increase of 68.3%[17] - Research and development expenses for the nine months ended September 30, 2024, were $25,813, up from $14,266 in the same period of 2023, marking an increase of 81.00%[29] - The Phase 2 Alzheimer's trial (AD02) has completed enrollment with a target of 201 patients, with interim analysis showing a highly significant correlation (p<0.001) between EMACC and CDR-SB[2][3] - INKmune™ demonstrated excellent safety and increased NK-Cell activity in the Phase I/II trial for metastatic Castration-Resistant Prostate Cancer, with 2 of 3 patients showing increased circulating activated NK cells[7] - The CaRe PC trial has recently dosed the first patient in the highest dose cohort, with the intermediate and high dose cohorts being 3 and 5 times the initial dose[9] - Top-line data from the Phase 2 Alzheimer's trial is expected in Q2 2025, with a Phase II trial of XPro™ in Treatment-Resistant Depression set to initiate in 2H 2024[14] - The company received a $2.5 million research and development rebate from Australia in July 2024[13] Cash and Equity - As of September 30, 2024, the company had cash and cash equivalents of approximately $33.6 million[18] - Cash and cash equivalents at the end of the period were $35,848, down from $52,153 at the end of the same period in 2023, indicating a decrease of 31.36%[31] - The company executed securities purchase agreements for gross proceeds of approximately $13.0 million[13] - The company had total liabilities of $14,107 as of September 30, 2024, down from $18,862 at the end of 2023, a decrease of 25.51%[28] - Total stockholders' equity increased to $38,675 as of September 30, 2024, from $37,340 at the end of 2023, reflecting an increase of 3.59%[28] - As of October 31, 2024, the company had approximately 22.2 million common shares outstanding[18] - The weighted average common shares outstanding for the nine months ended September 30, 2024, were 19,176,853, compared to 17,966,990 for the same period in 2023, an increase of 6.71%[29] - The company reported net proceeds from the sale of common stock and warrants of $27,789 for the nine months ended September 30, 2024, compared to $775 for the same period in 2023, a significant increase[31] Operating Expenses - Operating expenses for the nine months ended September 30, 2024, totaled $33,182, an increase of 54.38% from $21,489 in the same period of 2023[29]