Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries INmune Bio Inc. Raises Approximately $4.8 Million in Gross Proceeds Through Registered Direct Offering with Officers, Employees and Directors Purchasing Approximately 20% of the Offering By: INmune Bio, Inc. via GlobeNewswire April 22, 2024 at 08:00 AM EDT Boca Raton, Florida, April 22, 2024 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, today announced today that it has entered into definitive agreements for the sale and purchase of 571,592 shares of its common stock with above market warrant exercise price that include an acceleration clause upon positive top-line data in the Company’s Phase 2 Alzhzimer’s Disease program (as further described below). The warrants give the investor the right to purchase 571,592 additional shares of its common stock in a registered direct offering. The offering was priced at the market based on the Friday, April 19th Nasdaq consolidated closing bid price of $8.32 per share. The exercise price of the warrants is $9.152, which represents a 10% premium to the price at which the common shares were offered. The warrants terminate on the earlier of (1) the two (2) year anniversary of the initial exercise date of the warrant or (2) thirty (30) trading days following the reporting of top line data (EMACC) in the Phase 2 Alzheimer's program of XPro1595, (the “Termination Date”). The gross proceeds of this offering are approximately $4.8 million before deducting placement agent fees and expenses. The closing of the offering is expected to occur on or about April 24, 2024, subject to the satisfaction of customary closing conditions. Members of management and the Company’s board of directors and certain key employees participated in the offering and will pay a combined offering price for the common stock and warrants of $8.445 per share and warrant, and in the case of officers and directors that participated in the offering, if the warrant termination date is on a blackout date then the officers and directors will have an additional 60 days from the termination of the blackout date to exercise the warrant. The Company intends to use the net proceeds for completing the ongoing Phase 2 trial (AD02) in patients with Early Alzheimer’s Disease (AD) using XPro™ and the metastatic castration-resistant prostate cancer (mCRPC) Phase 1 trial using the INKmune technology. LifeSci Capital is acting as sole placement agent for this offering. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254221) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from LifeSci Capital LLC 250 West 55th Street, Suite 3401, New York, New York 10019 or by telephone at (646) 876-5059 or by email at ddepalma@lifescicapital.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About INmune Bio, Inc. INmune Bio Inc. is a publicly traded (NASDAQ: INMB), clinical-stage 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. To learn more, please visit www.inmunebio.com. Forward Looking Statements Clinical trials are in the early stages and there is no assurance that any specific outcome will be achieved. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. INB03™, XPro1595 (XPro™), and INKmune™ are still in clinical trials or preparing to start clinical trials and have not been approved by the US Food and Drug Administration (FDA) or any regulatory body and there cannot be any assurance that they will be approved by the FDA or any regulatory body or that any specific results will be achieved. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to produce more drug for clinical trials; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, the Company’s Quarterly Reports on Form 10-Q and the Company’s Current Reports on Form 8-K. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. INmune Bio Contact: David Moss, CFO (858) 964-3720info@inmunebio.com Investor Contact: Jason NelsonCore IR(516) 842-9614 x-823 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
INmune Bio Inc. Raises Approximately $4.8 Million in Gross Proceeds Through Registered Direct Offering with Officers, Employees and Directors Purchasing Approximately 20% of the Offering By: INmune Bio, Inc. via GlobeNewswire April 22, 2024 at 08:00 AM EDT Boca Raton, Florida, April 22, 2024 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, today announced today that it has entered into definitive agreements for the sale and purchase of 571,592 shares of its common stock with above market warrant exercise price that include an acceleration clause upon positive top-line data in the Company’s Phase 2 Alzhzimer’s Disease program (as further described below). The warrants give the investor the right to purchase 571,592 additional shares of its common stock in a registered direct offering. The offering was priced at the market based on the Friday, April 19th Nasdaq consolidated closing bid price of $8.32 per share. The exercise price of the warrants is $9.152, which represents a 10% premium to the price at which the common shares were offered. The warrants terminate on the earlier of (1) the two (2) year anniversary of the initial exercise date of the warrant or (2) thirty (30) trading days following the reporting of top line data (EMACC) in the Phase 2 Alzheimer's program of XPro1595, (the “Termination Date”). The gross proceeds of this offering are approximately $4.8 million before deducting placement agent fees and expenses. The closing of the offering is expected to occur on or about April 24, 2024, subject to the satisfaction of customary closing conditions. Members of management and the Company’s board of directors and certain key employees participated in the offering and will pay a combined offering price for the common stock and warrants of $8.445 per share and warrant, and in the case of officers and directors that participated in the offering, if the warrant termination date is on a blackout date then the officers and directors will have an additional 60 days from the termination of the blackout date to exercise the warrant. The Company intends to use the net proceeds for completing the ongoing Phase 2 trial (AD02) in patients with Early Alzheimer’s Disease (AD) using XPro™ and the metastatic castration-resistant prostate cancer (mCRPC) Phase 1 trial using the INKmune technology. LifeSci Capital is acting as sole placement agent for this offering. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254221) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from LifeSci Capital LLC 250 West 55th Street, Suite 3401, New York, New York 10019 or by telephone at (646) 876-5059 or by email at ddepalma@lifescicapital.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About INmune Bio, Inc. INmune Bio Inc. is a publicly traded (NASDAQ: INMB), clinical-stage 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. To learn more, please visit www.inmunebio.com. Forward Looking Statements Clinical trials are in the early stages and there is no assurance that any specific outcome will be achieved. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. INB03™, XPro1595 (XPro™), and INKmune™ are still in clinical trials or preparing to start clinical trials and have not been approved by the US Food and Drug Administration (FDA) or any regulatory body and there cannot be any assurance that they will be approved by the FDA or any regulatory body or that any specific results will be achieved. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to produce more drug for clinical trials; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, the Company’s Quarterly Reports on Form 10-Q and the Company’s Current Reports on Form 8-K. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. INmune Bio Contact: David Moss, CFO (858) 964-3720info@inmunebio.com Investor Contact: Jason NelsonCore IR(516) 842-9614 x-823
Boca Raton, Florida, April 22, 2024 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, today announced today that it has entered into definitive agreements for the sale and purchase of 571,592 shares of its common stock with above market warrant exercise price that include an acceleration clause upon positive top-line data in the Company’s Phase 2 Alzhzimer’s Disease program (as further described below). The warrants give the investor the right to purchase 571,592 additional shares of its common stock in a registered direct offering. The offering was priced at the market based on the Friday, April 19th Nasdaq consolidated closing bid price of $8.32 per share. The exercise price of the warrants is $9.152, which represents a 10% premium to the price at which the common shares were offered. The warrants terminate on the earlier of (1) the two (2) year anniversary of the initial exercise date of the warrant or (2) thirty (30) trading days following the reporting of top line data (EMACC) in the Phase 2 Alzheimer's program of XPro1595, (the “Termination Date”). The gross proceeds of this offering are approximately $4.8 million before deducting placement agent fees and expenses. The closing of the offering is expected to occur on or about April 24, 2024, subject to the satisfaction of customary closing conditions. Members of management and the Company’s board of directors and certain key employees participated in the offering and will pay a combined offering price for the common stock and warrants of $8.445 per share and warrant, and in the case of officers and directors that participated in the offering, if the warrant termination date is on a blackout date then the officers and directors will have an additional 60 days from the termination of the blackout date to exercise the warrant. The Company intends to use the net proceeds for completing the ongoing Phase 2 trial (AD02) in patients with Early Alzheimer’s Disease (AD) using XPro™ and the metastatic castration-resistant prostate cancer (mCRPC) Phase 1 trial using the INKmune technology. LifeSci Capital is acting as sole placement agent for this offering. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254221) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from LifeSci Capital LLC 250 West 55th Street, Suite 3401, New York, New York 10019 or by telephone at (646) 876-5059 or by email at ddepalma@lifescicapital.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About INmune Bio, Inc. INmune Bio Inc. is a publicly traded (NASDAQ: INMB), clinical-stage 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. To learn more, please visit www.inmunebio.com. Forward Looking Statements Clinical trials are in the early stages and there is no assurance that any specific outcome will be achieved. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. INB03™, XPro1595 (XPro™), and INKmune™ are still in clinical trials or preparing to start clinical trials and have not been approved by the US Food and Drug Administration (FDA) or any regulatory body and there cannot be any assurance that they will be approved by the FDA or any regulatory body or that any specific results will be achieved. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to produce more drug for clinical trials; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, the Company’s Quarterly Reports on Form 10-Q and the Company’s Current Reports on Form 8-K. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. INmune Bio Contact: David Moss, CFO (858) 964-3720info@inmunebio.com Investor Contact: Jason NelsonCore IR(516) 842-9614 x-823