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Inmune Bio

INMB Rare disease Lead: Phase 3 5 Biotech Distilled articles ↓ 31 filings & releases ↓ Cash $16.3M (Sep 30, 2026) ↓ 5 verdicts ↓ 2 timing quotes ↓
Dermatology Cell

Market cap $35.0M 31.0M shares (10-Q, Nov 5, 2026) × $1.13 close Nov 6, 2026

Most recent annual filing: 2026-03-15

Catalyst timeline

6 trackedQuarter catalyst calendar →
  1. CORDStrom/Ebstrocel manufacturing update2H 2026CORDStrom/Ebstrocel manufacturing update, 2H 2026, notable
  2. CORDStrom/Ebstrocel MAA filingFeb 2027CORDStrom/Ebstrocel MAA filing, Feb 2027, major
  3. CORDStrom/Ebstrocel BLA filing2Q 2027CORDStrom/Ebstrocel BLA filing, 2Q 2027, material
  4. BLA filing2Q 2027BLA filing, 2Q 2027, notable
  5. CORDStrom/Ebstrocel EU decisionmid-2027CORDStrom/Ebstrocel EU decision, mid-2027, thesis-defining
  6. INMB corporate financingmid-2027INMB corporate financing, mid-2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (1 active programs)

Technology platforms

CORDStrom

Proprietary, pooled, allogeneic, human umbilical cord-derived mesenchymal stromal cell (MSC) platform engineered to address donor variability and manufacturing inconsistency. Lead product Ebstrocel™ targets recessive dystrophic epidermolysis bullosa (RDEB); platform expansion targets include osteoarthritis, pulmonary disease, oncology, and other inflammatory or tissue-repair indications. Transitioning to regulatory filing phases with MAA planned for UK MHRA in 2026, EU EMA in 2027, and U.S. BLA submission planned early 2027.

DN-TNF · Xencor

Dominant negative tumor necrosis factor variant protein platform covering pegylated DN-TNF variants XPro1595 and INB03; targets neuroinflammation via selective neutralization of soluble TNF; focus on neurodegenerative diseases including Alzheimer's disease

Targets: soluble TNF, sTNF

CORDStrom · Anthony Nolan Cord Blood Bank

Proprietary, pooled, allogeneic, human umbilical cord-derived mesenchymal stromal cell platform engineered to address donor variability and manufacturing inconsistency; focus area: rare pediatric skin diseases including RDEB, with plans to expand into additional disease-specific cell therapies.

XPro1595

Dominant-Negative Tumor Necrosis Factor (DN-TNF) platform designed to selectively neutralize soluble TNF (sTNF) and reduce neuroinflammation without compromising protective immune function; focus area: neuroinflammation-enriched early Alzheimer's disease

Targets: soluble TNF, TNF, sTNF

Discontinued (3)

Capital (as filed)

Cash
$16.3M cash, equivalents and restricted cash · Sep 30, 2026 (10-Q)
Operating cash flow
−$3.4M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$16.3M cash, runway third quarter of 2027 per the update of Nov 5, 2026 — the company's own words as read there, not the filed figure

Offering documents (1)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (5)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (5 calls)

Every verdict Biotech Distilled has published on Inmune Bio, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-07-21 Watch INmune Bio (INMB) — Scientific Deep Dive for CORDStrom (Ebstrocel) and XPro1595, Plus the DN-TNF & NK Pipeline Real voucher optionality (~3x market cap) and a 2H-2026 UK filing catalyst keep it off the Pass pile, but a failed cognitive primary, a single small cell-therapy trial, and a going-concern balance sheet with a float-doubling ATM keep the author on the sidelines until a financing clears the going-concern flag and MHRA accepts/approves the CORDStrom MAA.
  2. 2026-08-07 Watch UPDATE: INmune Bio (INMB) - The Quarter That Bought Time, Not Runway Neither named de-risker has landed — no financing clearing the going-concern flag and no MHRA acceptance — so the watch stance is maintained despite improved non-dilutive cash receipts and a clearer voucher timeline.
  3. 2026-10-22 Watch UPDATE: INmune Bio (INMB) - The Filing Slips, the Clock Doesn't UK MAA slips to February 2027 and the company's own deck confirms MissionEB missed its primary endpoint, stretching the funding gap further, but the voucher thesis is not broken so the watch stance is maintained with a negative tilt.
  4. 2026-10-29 Watch UPDATE: INmune Bio (INMB) - The First Sip From the Dilution Cup A $4.5M raise with full warrant coverage buys roughly four months of runway but does not clear the going-concern flag, so the watch stance is maintained with a negative tilt and a larger raise still expected before the MAA.
  5. 2026-11-06 Watch UPDATE: INmune Bio (INMB) - The Rebate Well Runs Dry Q3 shows $16.3M cash with runway only to Q3 2027, the Australian rebate bridge is gone, the BLA date has slipped again, and the confirmatory trial has dropped off the milestone calendar, but the February MHRA filing date held and the voucher thesis remains intact, keeping the watch stance with a negative tilt.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (2 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (31)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Jul 30, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →