INmune Bio

INMB

Biotechnology · Healthcare

Price

$1.90

-0.17 (-8.21%)

Market Cap

$50.5M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Share count rising — dilution

+64.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 16.1M (2021) → 26.6M (2025)

INmune Bio is a small biotechnology company focused on developing drugs that target inflammation in the brain. Its main drug candidate, XPro1595, is being tested as a potential treatment for Alzheimer's disease by targeting a protein called TNF that drives harmful brain inflammation. The company's customers are ultimately patients with neurological diseases, and it operates in the clinical-stage drug development industry.

INmune Bio does not yet sell any products, so it earns no revenue and funds its operations through stock offerings and other financing. It is based in the United States and conducts clinical trials globally, though it remains a small, pre-revenue company with a market cap near zero. The key growth driver is whether XPro1595 succeeds in clinical trials, but the main risk is that most experimental drugs fail before reaching approval, and the company must keep raising money to survive while results are pending.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+53.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$21M/ year

↓ Declining (-38% vs prior year)

>1,000% of revenue

2295.4x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

16.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~19 months

$21M cash & investments

Quarterly Free Cash Flow

Adequate runway but may need to raise capital within 2 years

Revenue declining

INmune Bio's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Operating Margin

-61738.0%

Losing money on operations — -61738.0%

ROCE

-131.2%

Weak — -131.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+257.1%

Fast-growing sales (257.1% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

N/A

Data not available

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-47248.0%

Burning cash (-47248.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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