INmune Bio(INMB) - 2024 Q4 - Annual Results

Financial Performance - The company reported a net loss attributable to common stockholders of approximately $42.1 million for the year ended December 31, 2024, compared to a loss of approximately $30.0 million in 2023[9]. - Total revenue for 2024 was $14,000, a decrease of 91% compared to $155,000 in 2023[22]. - Operating expenses increased to $42,649,000 in 2024, up 42.6% from $29,896,000 in 2023[22]. - Net loss for 2024 was $42,082,000, compared to a net loss of $30,008,000 in 2023, representing a 40.4% increase in losses[22]. - Cash and cash equivalents decreased to $20,922,000 in 2024 from $35,848,000 in 2023, a decline of 41.7%[20]. - Total assets decreased to $39,562,000 in 2024 from $57,001,000 in 2023, a reduction of 30.5%[20]. - Total liabilities decreased to $7,465,000 in 2024 from $18,862,000 in 2023, a decline of 60.5%[20]. - Net cash used in operating activities was $33,361,000 in 2024, significantly higher than $11,980,000 in 2023[24]. - Net proceeds from the sale of common stock and warrants amounted to $27,789,000 in 2024, compared to $775,000 in 2023[24]. Research and Development - Research and development expenses totaled approximately $33.2 million for the year ended December 31, 2024, up from approximately $20.3 million in 2023[9]. - Research and development expenses rose to $33,166,000 in 2024, an increase of 63.6% from $20,273,000 in 2023[22]. - The company completed enrollment for its Phase 2 trial (AD02 trial) with 208 patients, exceeding the target of 201 patients, focusing on Early Alzheimer's Disease[2]. - Interim analyses of the AD02 trial showed a significant correlation (p<0.001) between baseline scores on the EMACC cognitive measure and the Clinical Dementia Rating-Sum of Boxes (CDR-SB)[2]. - The company plans to initiate a 12-month open label study for CORDStrom™ therapy, including all patients from the MissionEB study[5]. Regulatory and Market Developments - CORDStrom™ received Rare Pediatric Disease Designation and Orphan Drug Designation from the FDA for the treatment of epidermolysis bullosa[5]. - The company anticipates filing a Biologics License Application (BLA) for CORDStrom™ in 2025 or early 2026, which could be eligible for a Priority Review Voucher if approved by September 2026[9]. - The company joined the Russell 3000® Index effective July 1, 2024, following the annual reconstitution[9]. Shareholder Information - The company executed securities purchase agreements for total gross proceeds of approximately $27.5 million, issuing about 3.9 million warrants to purchase common stock[9]. - The weighted average number of common shares outstanding increased to 19,944,304 in 2024 from 17,980,791 in 2023, a growth of 10.9%[22].