INmune Bio Inc (NASDAQ:INMB) shares plummeted almost 60% following disappointing results from a Phase 2 clinical trial of its experimental Alzheimer's drug, XPro.
The drug failed to meet the primary cognitive endpoint in the overall intent-to-treat population, meaning it did not significantly improve cognitive function over six months compared to placebo in early Alzheimer's patients.
Despite the setback, INmune Bio noted that XPro showed cognitive, behavioral, and biological benefits in a predefined subgroup of patients with early Alzheimer's who had specific inflammation biomarkers.
“Our findings indicate that XPro may offer benefits to Alzheimer’s patients across all age groups, regardless of comorbidities, additional medications, or ApoE4 status,” INmune Bio CEO Dr RJ Tesi said in a statement. “This evidence lays the foundation for advancing XPro as a promising treatment option for Alzheimer’s disease.”
The company will present additional analyses at the Alzheimer’s Association International Conference being held in Toronto, Canada, from July 27 to 31 and plans to submit the drug for Breakthrough Therapy Designation with the US Food and Drug Administration.
Shares of INmune Bio traded down 58.7% at $2.20 on Monday afternoon.