Inmune Bio Inc SEC Filings

INmune Bio (INMB) reported third‑quarter 2025 results with a net loss of $6,472,000 and other income of $961,000, driven largely by interest income and a $0.6M vendor settlement gain. Cash and cash equivalents were $27,734,000 at September 30, 2025. Management disclosed “substantial doubt” about the company’s ability to continue as a going concern based on projected operating needs versus available liquidity.

Operating expenses fell year over year as research and development declined to $4,887,000 on trial completion and staff reductions, while general and administrative was $2,546,000. For the nine months, the company recorded a $16,514,000 impairment to XPro in‑process R&D after its Phase 2 did not meet primary and key secondary endpoints, and it halted immediate plans to develop XPro while seeking a partner. The company advanced CORDStrom for RDEB, with FDA Rare Pediatric Disease and Orphan Drug Designations, and intends to pursue a BLA. Shares outstanding were 26,585,258 as of October 30, 2025.

INmune Bio (INMB) will host a conference call on October 30, 2025 at 4:30 p.m. Eastern Time to discuss results for its third quarter ended September 30, 2025 and provide a corporate update. The company attached a related press release as Exhibit 99.1.

INmune Bio (INMB) called a virtual special meeting on November 18, 2025 to seek stockholder approval to reprice certain outstanding stock options. The plan would reset the exercise price of eligible options granted between January 1, 2018 and January 22, 2025 to the closing price of the Company’s common stock on the meeting date, with all other terms (vesting and expiration) unchanged.

The Board cites retention and alignment as key reasons. As of September 30, 2025, the stock closed at $2.07 per share, leaving 100% of options under the 2017, 2019 and 2021 plans underwater. Group-level eligibility includes 2,647,000 options for current executive officers as a group, 1,356,000 for non‑employee directors as a group, and 1,508,000 for non‑executive employees as a group. A separate proposal would allow adjournment to solicit additional proxies if needed. Stockholders of record at close of business on September 30, 2025 (26,585,258 shares outstanding) may vote.

INmune Bio reported that CEO David Moss will participate in a Dermatologic Rare Disease Panel at the Maxim Growth Summit presented by Maxim Group LLC. The event takes place at the Hard Rock Hotel in New York City on October 22–23, 2025.

The company furnished a related press release dated October 14, 2025 as Exhibit 99.1 under Item 8.01.

INmune Bio, Inc. filed a Preliminary Proxy Statement for a 2025 Special Meeting to seek stockholder approval of two proposals: Proposal 1 to reprice certain outstanding stock options and Proposal 2 to adjourn the Special Meeting if necessary. The company will mail and post the Proxy Materials and allow virtual attendance; voting by Internet, telephone or proxy card is available and votes by mail must be received by November 17, 2025. The statement explains that underwater options reduce incentive value and that the Board believes repricing may help retain and motivate employees, officers and directors. The company discloses formulas for accounting under FASB ASC Topic 718 (recognize original grant fair value plus incremental fair value) and summarizes U.S. tax consequences for incentive and nonqualified options. Beneficial ownership disclosures show significant option and warrant holdings, including 1,174,549 option shares exercisable within 60 days for one holder and other named officers with option positions reported as of September 30, 2025.

INmune Bio Inc. reported that it has submitted a scientific manuscript for peer review describing results from its Phase 2 MINDFuL trial in early Alzheimer’s disease with inflammation. The manuscript, titled “XPro1595, a Selective Soluble TNF Neutralizer, in Early Alzheimer’s Disease with Inflammation (ADi): Results from the Phase 2 MINDFuL Trial,” was submitted to npj Dementia, a Nature Portfolio journal. The company furnished a press release about this submission as an exhibit to the report.

INmune Bio (INMB) Form 3: Cory Randall Ellspermann, listed as a director and Interim CFO, reported beneficial ownership of stock options totaling 245,000 shares. The filing lists five option grants exercisable on dates between 11/24/2029 and 12/04/2034 with exercise prices from $3.91 to $21.06. One option is noted as fully vested and other grants include stated vesting schedules.

Highbridge Capital Management, LLC reported beneficial ownership of 1,454,400 shares of Inmune Bio, Inc. common stock that are issuable upon exercise of warrants. That amount represents 5.2% of the company's outstanding common stock on a base of 26,585,258 shares as stated in the issuer's prospectus, and the filing clarifies these shares are held by Highbridge-managed funds. The filing identifies Highbridge as a Delaware investment adviser and reports sole voting and dispositive power over the 1,454,400 shares. The statement asserts the securities were acquired in the ordinary course of business and not for the purpose of influencing control.

INmune Bio Inc. disclosure shows two reporting persons—CVI Investments, Inc. and its investment manager Heights Capital Management, Inc.—beneficially hold 1,396,279 shares represented by warrants. Those shares equal 4.9% of the outstanding common stock based on 26,585,258 shares reported outstanding as of June 30, 2025. The warrants include an anti-exercise limitation that prevents exercise to the extent ownership would exceed 4.99%.

The filing states neither reporting person has sole voting or dispositive power; voting and disposition are shared. Heights serves as investment manager to CVI and may exercise voting and dispositive power over the shares held by CVI, while each party disclaims beneficial ownership except for pecuniary interest.