INmune Bio Lags in PRISM Global Health Index Following Securities Offering
Shares of INmune Bio (NASDAQ: INMB) tumbled over 14% on Friday after the company announced a $13M securities offering. The immunology firm entered into securities purchase agreements for more than 2.34M shares of common stock and warrants to purchase up to 2,341,260 shares. Institutional investors secured shares at $5.50, while insiders paid $6.50 per share. Warrants, priced at $6.40 per share, will become exercisable six months after issuance and will expire in five years, with potential adjustments for insiders based on blackout periods.
Gross proceeds from the offering are expected to total $13M, with funds allocated toward working capital and general corporate purposes. A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.
About INmune Bio Inc.
INmune Bio Inc. is a publicly traded (NASDAQ: INMB), clinical-stage inflammation and immunology biotechnology company focused on developing treatments that target the innate immune system to fight disease. INmune Bio has two product platforms that are both in clinical trials: The Dominant-Negative Tumor Necrosis Factor (DN-TNF) product platform utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver of innate immune dysfunction and a mechanistic driver of many diseases. DN-TNF product candidates are in clinical trials to determine if they can treat cancer (INB03™), Early Alzheimer’s disease and treatment-resistant depression (XPro™). The Natural Killer Cell Priming Platform includes INKmune™ developed to prime a patient’s NK cells to eliminate minimal residual disease in patients with cancer. INmune Bio’s product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic and solid tumor malignancies, and chronic inflammation.
