--- title: "INmune Bio agrees to sell 3,000,000 shares at $6.30 in $19 million direct" url: "https://aibio.space/news/inmune-bio-agrees-sell-3-000-000-shares-6-30-19-million-direct/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-06-30" section: "Financings" tickers: "NASDAQ:INMB" source: "https://www.sec.gov/Archives/edgar/data/1711754/000121390025059298/ea0247439-424b5_inmune.htm" summary: "The prospectus puts the immediate dilution to new buyers at $4.97 per share. Cash was $19,377 thousand at March 31, 2025, against an accumulated deficit of" --- By the aibio.space news desk. Sources - [INmune Bio Inc. 424B5 (2025-06-30)](https://www.sec.gov/Archives/edgar/data/1711754/000121390025059298/ea0247439-424b5_inmune.htm) - [ea024746101ex99-1_inmune.htm](https://www.sec.gov/Archives/edgar/data/1711754/000121390025059690/ea024746101ex99-1_inmune.htm) - [INmune Bio Inc. 10-K (2025-03-27): business](https://www.sec.gov/Archives/edgar/data/1711754/000101376225003354/ea0229965-10k_inmune.htm) [INMB](https://aibio.space/companies/inmune-bio/) 2025-06-30 # INmune Bio agrees to sell 3,000,000 shares at $6.30 in $19 million direct offering Tickers [INMB](https://aibio.space/companies/inmune-bio/) The prospectus puts the immediate dilution to new buyers at $4.97 per share. Cash was $19,377 thousand at March 31, 2025, against an accumulated deficit of $172,843 thousand. ## Key facts - **Company**: INmune Bio Inc. (NASDAQ: INMB) - **News type**: Financings - **Primary source**: [INmune Bio Inc. 424B5 (2025-06-30)](https://www.sec.gov/Archives/edgar/data/1711754/000121390025059298/ea0247439-424b5_inmune.htm) *Planning on a whiteboard. Photo: Startup Stock Photos, CC0, via StockSnap. The picture shows the field, not the companies named.* INmune Bio, Inc. (Nasdaq: [INMB](https://aibio.space/companies/inmune-bio/)) agreed to sell 3,000,000 shares of common stock to two healthcare-focused institutional investors at $6.30 per share in a registered direct offering. The company's June 27, 2025 press release gave gross proceeds of approximately $19 million before placement agent fees and expenses. INmune said the price was set at-the-market under Nasdaq rules. The prospectus supplement, dated June 30, 2025, gives the last reported sale price on June 26, 2025 as $6.28 per share. The shares were sold under a shelf registration statement on Form S-3, declared effective on August 7, 2024. Under the shelf, the company may sell up to $250 million in securities over time. Approximately $162 million remained available as of the prospectus supplement date, excluding this offering. ## Who advised and who was paid A.G.P./Alliance Global Partners was the sole placement agent. It agreed to use reasonable best efforts to place the shares, with no minimum sale required. INmune agreed to pay a cash fee of 7.0% of gross proceeds, or $0.441 per share. Proceeds before expenses come to $17,577,000. The company's own net proceeds estimate is approximately $17.4 million after placement agent fees and offering expenses. Sichenzia Ross Ference Carmel LLP passed on the validity of the securities for INmune. Lowenstein Sandler LLP, New York, acted as counsel to the placement agent. The prospectus adds that INmune will also reimburse the placement agent for certain of its expenses. ## Balance sheet and dilution As of March 31, 2025, the company reported cash and cash equivalents of $19,377 thousand, total liabilities of $8,128 thousand and an accumulated deficit of $172,843 thousand. Net tangible book value was $13.2 million, or about $0.57 per share, on 22,930,411 shares outstanding. The prospectus shows the offering price of $6.30 against a pro forma net tangible book value of about $0.76 per share. After the offering, the pro forma as adjusted net tangible book value would be $35.4 million, or about $1.33 per share, on 26,585,258 shares. The prospectus puts the immediate dilution to new investors at approximately $4.97 per share. The figures exclude 7,303,307 shares issuable on outstanding options, at a weighted average exercise price of $8.28, and 3,944,138 shares issuable on outstanding warrants, at a weighted average exercise price of $7.75. The company has also been selling stock through an at-the-market program with RBC Capital Markets LLC and BTIG, LLC. It sold 654,847 shares after March 31, 2025 at a weighted average price of $7.42 per share, above the $6.30 price in this offering, for gross proceeds of $5.0 million. ## A failed primary endpoint, and what comes next The prospectus supplement reports that on June 30, 2025 the company announced topline results from its Phase 2 MINDFuL trial of XPro in early Alzheimer's disease. The trial did not meet its primary or key secondary endpoints in the modified intent-to-treat population (n=200). In a pre-specified subgroup of patients with amyloid-positive disease and multiple inflammatory biomarkers (n=100), the company says XPro showed cognitive and biomarker benefits, including improvements on EMACC and NPI-12 and reductions in plasma pTau217 and GFAP. The company says XPro was well-tolerated, with no ARIA-E or ARIA-H observed, and that it intends to file for Breakthrough Therapy Designation and meet with the FDA to discuss a pivotal trial. It plans to present full results at the Alzheimer's Association International Conference in July 2025. Full enrollment occurred in late 2024 with 208 patients. CORDStrom, a pooled umbilical cord stem cell product for recessive dystrophic epidermolysis bullosa in children, has completed a pivotal blinded randomized cross-over trial. The company anticipates filing a Biologics License Application with the FDA by the end of 2025 or early 2026. The FDA granted Orphan Drug Designation on January 6, 2025. INKmune is in an open-label Phase II trial in metastatic castrate resistant prostate cancer, with the first patient enrolled in December 2023. The company estimates full enrollment by the end of 2025, with topline data six months later, and says it does not expect the trial to provide survival data. The company says it intends to use the net proceeds for general corporate purposes and working capital. Management has broad discretion over their use. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story INMB INmune Bio Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/inmune-bio-agrees-sell-3-000-000-shares-6-30-19-million-direct/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "INmune Bio agrees to sell 3,000,000 shares at $6.30 in $19 million direct", 2025-06-30, https://aibio.space/news/inmune-bio-agrees-sell-3-000-000-shares-6-30-19-million-direct/