INmune Bio (INMB)


Market Price (11/6/2026): $1.26 | Market Cap: $39.0 MilSector: Health Care | Industry: Biotechnology

INmune Bio (INMB)


Market Price (11/6/2026): $1.26
Market Cap: $39.0 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -54%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

Weak multi-year price returns
2Y Excs Rtn is -115%, 3Y Excs Rtn is -167%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -20 Mil

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -70%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -63%

Key risks
INMB key risks include [1] the recent Phase 2 trial failure of its lead Alzheimer's candidate, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -54%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -115%, 3Y Excs Rtn is -167%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
4 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -20 Mil
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -70%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -63%
8 Key risks
INMB key risks include [1] the recent Phase 2 trial failure of its lead Alzheimer's candidate, Show more.

INMB in ETFs

Weight = INMB's share of each fund

VTI0.00%
DFAS0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/5/2026

INmune Bio (INMB) stock has lost about 35% since 7/31/2026 because of the following key factors:

1. Weaker-than-expected fiscal Q3 2026 earnings and continued cash burn raised investor concerns. The company reported a net loss per share of $0.17 for fiscal Q3 2026 (quarter ended September 30, 2026), missing the consensus analyst estimate of $0.1467 per share. While the net loss of approximately $4.7 million for the quarter was an improvement from approximately $6.5 million in the prior year's fiscal Q3, the ongoing losses highlight the challenges of a pre-revenue biotechnology company.

2. Equity financing in October 2026 suggested ongoing capital needs, potentially leading to future dilution. INmune Bio announced a registered direct offering on October 28, 2026, to sell 3 million shares of common stock and warrants, generating gross proceeds of $4.5 million. Although this amount did not exceed the $5 million threshold for significant insider trading, any equity financing can signal to investors that the company needs additional capital, raising concerns about potential dilution for existing shareholders, especially for a company with cash resources projected to fund operations through fiscal Q3 2027.

Show more
Updated on 11/5/2026

INmune Bio (INMB) stock has lost about 35% since 7/31/2026 because of the following key factors:

1. Weaker-than-expected fiscal Q3 2026 earnings and continued cash burn raised investor concerns. The company reported a net loss per share of $0.17 for fiscal Q3 2026 (quarter ended September 30, 2026), missing the consensus analyst estimate of $0.1467 per share. While the net loss of approximately $4.7 million for the quarter was an improvement from approximately $6.5 million in the prior year's fiscal Q3, the ongoing losses highlight the challenges of a pre-revenue biotechnology company.

2. Equity financing in October 2026 suggested ongoing capital needs, potentially leading to future dilution. INmune Bio announced a registered direct offering on October 28, 2026, to sell 3 million shares of common stock and warrants, generating gross proceeds of $4.5 million. Although this amount did not exceed the $5 million threshold for significant insider trading, any equity financing can signal to investors that the company needs additional capital, raising concerns about potential dilution for existing shareholders, especially for a company with cash resources projected to fund operations through fiscal Q3 2027.

3. Delays in key regulatory filings for Ebstrocel created uncertainty regarding its commercialization timeline. Initial plans for Ebstrocel’s Marketing Authorization Application (MAA) in the UK were targeted for July 2026, and in the EU for September 2026. However, by late October 2026, these filings were noted as still pending beyond the stated timelines. While the company did submit its final pre-MAA package to the UK MHRA on October 20, 2026, with a full MAA planned for early February 2027, the earlier delays likely contributed to investor apprehension.

4. Reduced focus and uncertain future development for the XPro Alzheimer's disease program. The company indicated it does not intend to commit capital to a new XPro clinical program until Ebstrocel is approved or dedicated XPro resources are in place, pausing significant investment in XPro development. This follows disappointing Phase 2 results for XPro in 2025, where it did not meet its primary cognitive endpoint in an Alzheimer's disease study, with future plans focusing on a subgroup of patients with inflammation. The de-prioritization of a key pipeline asset can negatively impact investor confidence in the company's long-term growth prospects.

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Stock Movement Drivers

Fundamental Drivers

The -32.9% change in INMB stock from 7/31/2026 to 11/5/2026 was primarily driven by a -0.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)731202611052026Change
Stock Price ($)1.751.18-32.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple∞∞0.0%
Shares Outstanding (Mil)2727-0.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
INMB-32.9% 
Market (SPY)-1.9%51.5%
Sector (XLV)13.8%32.0%

Fundamental Drivers

The -17.8% change in INMB stock from 4/30/2026 to 11/5/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
(LTM values as of)430202611052026Change
Stock Price ($)1.431.18-17.8%
Change Contribution By: 
Total Revenues ($ Mil)00 
P/S Multiple760.9∞9.2233720368547763E17%
Shares Outstanding (Mil)2727-0.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
INMB-17.8% 
Market (SPY)2.3%51.6%
Sector (XLV)27.2%11.0%

Fundamental Drivers

The -35.8% change in INMB stock from 10/31/2025 to 11/5/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202511052026Change
Stock Price ($)1.831.18-35.8%
Change Contribution By: 
Total Revenues ($ Mil)00 
P/S Multiple973.0∞9.2233720368547763E17%
Shares Outstanding (Mil)2727-0.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
INMB-35.8% 
Market (SPY)8.4%46.7%
Sector (XLV)29.8%13.6%

Fundamental Drivers

The -83.9% change in INMB stock from 10/31/2023 to 11/5/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202311052026Change
Stock Price ($)7.291.18-83.9%
Change Contribution By: 
Total Revenues ($ Mil)00 
P/S Multiple468.9∞9.2233720368547763E17%
Shares Outstanding (Mil)1827-32.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
INMB-83.9% 
Market (SPY)81.3%32.9%
Sector (XLV)55.5%19.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
INMB Return-41%-38%78%-59%-67%-25%-93%
Peers Return-35%-50%-17%-45%25%71%-68%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
INMB Win Rate33%25%67%33%33%45% 
Peers Win Rate38%42%40%40%40%44% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
INMB Max Drawdown-65%-52%-41%-69%-86%-53% 
Peers Max Drawdown-63%-67%-67%-68%-52%-47% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: IBRX, DNLI, NKTX, FATE, LCTX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)

How Low Can It Go

EventINMBS&P 500
2024 Yen Carry Trade Unwind
  % Loss-19.8%-7.8%
  % Gain to Breakeven24.7%8.5%
  Time to Breakeven163 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.3%-9.5%
  % Gain to Breakeven30.3%10.5%
  Time to Breakeven51 days24 days
2023 SVB Regional Banking Crisis
  % Loss-38.7%-6.7%
  % Gain to Breakeven63.1%7.1%
  Time to Breakeven74 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.7%-24.5%
  % Gain to Breakeven95.1%32.4%
  Time to Breakeven413 days427 days
2020 COVID-19 Crash
  % Loss-56.5%-33.7%
  % Gain to Breakeven129.7%50.9%
  Time to Breakeven40 days140 days

Compare to IBRX, DNLI, NKTX, FATE, LCTX

In The Past

INmune Bio's stock fell -19.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 24.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventINMBS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.3%-9.5%
  % Gain to Breakeven30.3%10.5%
  Time to Breakeven51 days24 days
2023 SVB Regional Banking Crisis
  % Loss-38.7%-6.7%
  % Gain to Breakeven63.1%7.1%
  Time to Breakeven74 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.7%-24.5%
  % Gain to Breakeven95.1%32.4%
  Time to Breakeven413 days427 days
2020 COVID-19 Crash
  % Loss-56.5%-33.7%
  % Gain to Breakeven129.7%50.9%
  Time to Breakeven40 days140 days

Compare to IBRX, DNLI, NKTX, FATE, LCTX

In The Past

INmune Bio's stock fell -19.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 24.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About INmune Bio (INMB)

INmune Bio, Inc. (INMB) is a clinical-stage immunotherapy company dedicated to developing innovative drugs that reprogram the patient's innate immune system. The company's primary focus is on treating complex diseases within oncology, targeting both hematologic malignancies (blood cancers) and solid tumors, as well as addressing chronic inflammatory conditions like Alzheimer's disease.

The company's development pipeline features three key product candidates. INKmune is an immunotherapy specifically designed for women with relapse refractory ovarian carcinoma and patients suffering from high-risk myelodysplastic syndrome. Another candidate, INB03, is being advanced as an immunotherapy for a broader spectrum of hematologic malignancies and solid tumors. Additionally, INmune Bio is developing XPro1595 for the treatment of Alzheimer's disease, addressing a significant unmet medical need in neuroinflammation. These product candidates are intended to serve patients with severe and often life-threatening conditions, offering new therapeutic approaches where existing treatments may be insufficient.

AI Analysis | Feedback

Here are 1-2 brief analogies for INmune Bio:

  • Like a Moderna or BioNTech, but focused on developing therapies that 'reprogram' the innate immune system to fight cancer and inflammation.
  • A CRISPR Therapeutics for the immune system, 'reprogramming' it to combat cancers and neurodegenerative diseases.

AI Analysis | Feedback

  • INKmune: A drug candidate focusing on treating women with relapse refractory ovarian carcinoma and patients with high-risk myelodysplastic syndrome.
  • INB03: An immunotherapy drug candidate for treating patients with hematologic malignancies and solid tumors.
  • XPro1595: A drug candidate developed for the treatment of Alzheimer's disease.

AI Analysis | Feedback

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David J. Moss, Chief Executive Officer

Mr. Moss was appointed CEO in August 2025, having previously served as the CFO since INmune Bio's formation in September 2015. He is a co-founder of INmune Bio. Mr. Moss has a history of founding, funding, and taking various companies public across multiple industries since 1995. He was a founding investor in Reliant Service Group LLC, which was acquired by a leading private equity firm in 2015. His prior experience includes serving as Managing Director, Corporate Finance for a New York-based securities firm, where he provided counsel on corporate strategy, financings, and business development, and as Managing Partner at a Seattle-based venture capital firm.

Cory Ellspermann, Interim Chief Financial Officer

Mr. Ellspermann was appointed Interim CFO in 2025. Before this role, he was the Controller and VP of Finance for the company starting in June 2019. He brings nearly 30 years of financial management experience from both public and private companies. Mr. Ellspermann previously worked as a Senior Accounting Manager at Artivest, an alternative investments company, and was a Senior Audit Manager at Ernst & Young.

Professor Mark Lowdell, PhD, Chief Scientific Officer and Chief Manufacturing Officer

Professor Lowdell has served as Chief Scientific Officer and Chief Manufacturing Officer since INmune Bio's inception in September 2015, and is a co-founder of the company. He is also a Professor of Cell and Tissue Therapy at University College London, where he has led a translational immunotherapy group since 1994. Since February 2009, he has also held the position of Director of Cellular Therapy at the Royal Free London NHS Foundation Trust. Professor Lowdell earned his PhD in clinical immunology from London Hospital Medical College, University of London in 1992 and is a qualified immunopathologist.

Christopher J. Barnum, Vice President of Neuroscience

Dr. Barnum is the Head of Neuroscience at INmune Bio, Inc. He is a neuroimmunologist with extensive expertise in neurodegenerative and psychiatric diseases, having held various positions in academia and industry, including at Emory University, FPRT Bio., SonosBio, and Takeda Pharmaceuticals. His work has concentrated on translating inflammatory therapies into clinical treatments for neurological diseases through a biomarker-directed approach. Dr. Barnum has been involved with XPro1595 for more than a decade, joining INmune Bio full-time in 2018.

Joshua S. Schoonover, Esq., General Counsel

Mr. Schoonover serves as INmune Bio's in-house counsel, primarily focusing on developing the Company's intellectual property rights and managing its various licenses and agreements. He has over ten years of experience in building and monetizing intellectual property portfolios. His professional background includes involvement in multiple transactions, notably a nine-figure acquisition of a portfolio comprising over 230 patent matters that he drafted and prosecuted.

AI Analysis | Feedback

The key risks to INmune Bio (INMB) are:
  1. Clinical Trial and Regulatory Failure

    As a clinical-stage immunotherapy company, INmune Bio's business success is heavily dependent on the successful completion of clinical trials for its product candidates (INKmune, INB03, and XPro1595) and subsequent regulatory approvals. The failure of any of these programs in clinical trials due to lack of efficacy, safety concerns, or other issues, or the inability to obtain necessary regulatory approvals, would significantly jeopardize the company's prospects and financial viability.

  2. Funding and Commercialization Risk

    Developing and commercializing novel drugs is an expensive and lengthy process. As a company without currently approved and revenue-generating products, INmune Bio relies on external funding to advance its pipeline. The inability to secure sufficient capital to fund ongoing clinical trials, research and development, and potential commercialization efforts for any approved products poses a significant risk. Furthermore, even with successful clinical development, the company faces substantial challenges and costs associated with effectively commercializing its products in competitive markets.

  3. Intellectual Property and Competition

    INmune Bio's long-term success depends on its ability to protect its intellectual property through patents and other means. Challenges to its existing patents, the inability to obtain new patents for its discoveries, or the expiration of current patents could weaken its competitive position. The company also operates in highly competitive therapeutic areas, including hematologic malignancies, solid tumors, and Alzheimer's disease, facing competition from larger pharmaceutical companies and other biotechnology firms with established products or advanced development pipelines.

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The addressable markets for INmune Bio's main products are as follows:

  • INKmune for relapse refractory ovarian carcinoma: The global advanced recurrent ovarian cancer market was valued at approximately USD 3.70 billion in 2023 and is projected to reach USD 5.79 billion by the end of 2030. The global ovarian cancer drugs market was approximately USD 4.09 billion in 2025 and is projected to reach around USD 7.78 billion by 2035. The U.S. ovarian cancer drugs market is estimated at USD 1.30 billion in 2025 and is projected to be worth around USD 2.57 billion by 2035.
  • INKmune for high-risk myelodysplastic syndrome: The global myelodysplastic syndrome drugs market size was valued at USD 4.55 billion in 2024 and is anticipated to reach around USD 11.17 billion by 2034. In 2023, the total myelodysplastic syndrome market size in the 7MM (United States, EU5, and Japan) was more than USD 2,800 million, with the U.S. market size alone estimated at nearly USD 2,000 million.
  • INB03 for hematologic malignancies and solid tumors:
    • Hematologic Malignancies: The global hematologic malignancies market size was valued at USD 72.87 billion in 2024 and is expected to reach USD 147.38 billion by 2033. North America accounted for a 41% share of this market in 2024.
    • Solid Tumors: The global solid tumors market size was valued at USD 362.21 billion in 2024 and is projected to reach USD 1557.42 billion by 2032. North America dominates this market due to the rising prevalence of solid tumors and technological advancements. The global solid tumor therapeutics market is expected to grow from USD 207.29 billion in 2025 to USD 326.82 billion by 2031.
  • XPro1595 for Alzheimer's disease: The global Alzheimer's therapeutics market size was approximately USD 6.49 billion in 2025 and is predicted to increase to about USD 33.62 billion by 2034. The Alzheimer's disease market in the 7MM (US, EU4, UK, and Japan) is valued at approximately USD 5,048 million in 2025 and is projected to grow to USD 34,335 million in 2034. The United States accounted for the highest Alzheimer's disease market size, approximately 54% of the total in the 7MM in 2023.

AI Analysis | Feedback

INmune Bio (NASDAQ: INMB) is a clinical-stage immunotherapy company with several promising drug candidates in development that are expected to drive future revenue growth over the next 2-3 years through clinical advancements, regulatory milestones, and potential commercialization or partnerships.

Here are 3-5 expected drivers of future revenue growth for INmune Bio:

  1. Advancement and Potential Commercialization of XPro1595 for Alzheimer's Disease: XPro1595, a selective soluble TNF neutralizer for early Alzheimer's disease with inflammation (ADi), has shown promising results in a prespecified subgroup of patients in its Phase 2 MINDFuL trial. In February 2026, INmune Bio announced FDA alignment on an integrated Phase 2b/3 clinical development strategy for XPro1595. The company is incorporating FDA feedback into the final Phase 2b/3 protocol, which aims to establish the clinical evidence base for Phase 3 and ultimately lead to regulatory approval and commercialization. Further neuroimaging data from the MINDFuL trial are anticipated in 2026, which could reinforce its therapeutic potential.

  2. Progression of INKmune in Metastatic Castration-Resistant Prostate Cancer (mCRPC): The Phase I/II CaRe PC trial of INKmune for mCRPC has successfully met its primary and secondary endpoints and concluded enrollment as of August 2025. INKmune demonstrated an excellent safety profile and effectively activated NK cells in patients. INmune Bio plans to initiate a randomized Phase 2b trial to further evaluate INKmune's clinical benefits in patients with less severe disease. The company has also planned for FDA Biologic License Application (BLA) standard validation in 2025, indicating a strategic path toward potential regulatory submission and market entry.

  3. Development of INB03 in Combination Immunotherapy for Cancer: INB03, a dominant-negative TNF inhibitor, has completed a Phase 1 trial in advanced solid tumors, demonstrating safety, tolerability, and a reduction in inflammatory biomarkers. The company is planning a Phase 2 trial to evaluate INB03 in combination immunotherapy for cancer patients. Preclinical data presented in November 2023 showed that INB03 enhances the efficacy of trastuzumab deruxtecan in HER2+ breast cancer models, suggesting its potential to overcome resistance mechanisms and improve outcomes in various cancer types. This could lead to expanded indications and potential partnerships, generating future revenue.

  4. Advancement of CORDStrom™ and Anticipated Regulatory Filings: INmune Bio's CORDStrom™ platform, which utilizes human umbilical cord-derived mesenchymal stromal/stem cells, recently completed a blinded randomized trial for recessive dystrophic epidermolysis bullosa (RDEB). The company has outlined plans for Biologic License Application (BLA) and Marketing Authorization Application (MAA) filings for CORDStrom™ targeted for mid-2026. Successful regulatory approval and subsequent commercialization of CORDStrom™ would represent a significant revenue-generating event for INmune Bio within the next 2-3 years.

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Capital Allocation Decisions for INmune Bio (INMB)

Share Issuance

  • In June 2025, INmune Bio completed a registered direct offering, selling 3,000,000 shares of common stock at $6.30 per share, which generated $19 million in gross proceeds.
  • For the nine months ending September 30, 2025, the company reported net proceeds from the sale of common stock and warrants of approximately $27.5 million. This compares to approximately $27.8 million for the same period in 2024.

Inbound Investments

  • INmune Bio closed a private placement in June 2025, which contributed to its cash position.
  • The company anticipates receiving a research and development rebate from Australia.

Capital Expenditures

  • Purchases of equipment amounted to $899,000 for the nine months ended September 30, 2025.
  • The company has ongoing capital expenditures, with reported capital expenditures of $193,000 covered weakly by free cash flow, indicating a need for external financing for growth initiatives.
  • INmune Bio plans to continue investing in expanding its patent portfolio and in-licensing intellectual property related to the innate immune system.

Peer Outperformance in Biotechnology

INMB has trailed 61% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that INMB has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
46%
of 452 industry peers · -33.6% return
3Y
25%
of 398 industry peers · -83.8% return
5Y
39%
of 363 industry peers · -91.8% return
No Biotechnology peer with a comparable growth profile has beaten INMB by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is INMB's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 7.6%56.6%93.6% CAH 498% · MCK 396% · COR 181%
Health Care Services 20 33.8%28.8%6.1% HIMS 189% · RDNT 125% · DGX 100%
Health Care Facilities 25 13.9%27.4%-1.4% THC 280% · NHC 210% · EHC 186%
Managed Health Care 8 47.9%1.6%-2.2% OSCR 95% · HQY 52% · ELV 10%
Health Care Equipment 50 11.0%17.8%-17.6% UFPT 355% · GKOS 286% · PLSE 127%
Pharmaceuticals 61 -12.9%10.6%-37.3% LQDA 977% · XERS 571% · KNSA 500%
Health Care Supplies 11 23.9%17.0%-40.1% LNTH 248% · HAE 66% · MMSI 29%
Life Sciences Tools & Services 108 -8.1%-18.9%-74.5% AXGN 255% · NTRA 214% · MEDP 181%
Biotechnology ← 364 -25.8%-36.1%-82.0% ELVN 1073% · TRVI 995% · DNTH 956%
Health Care Technology 21 -21.4%-50.4%-82.8% VEEV -3% · DOCS -51%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

INMBIBRXDNLINKTXFATELCTXMedian
NameINmune B.Immunity.Denali T.Nkarta Fate The.Lineage . 
Mkt Price1.268.1119.521.581.850.981.72
Mkt Cap0.08.53.70.10.20.20.2
Rev LTM016621061310
Op Inc LTM-20-252-532-132-134-27-133
FCF LTM-15-289-486-94-106-24-100
FCF 3Y Avg-24-357-425-101-122-23-112
CFO LTM-15-281-444-93-102-24-97
CFO 3Y Avg-23-347-402-95-119-23-107

Growth & Margins

INMBIBRXDNLINKTXFATELCTXMedian
NameINmune B.Immunity.Denali T.Nkarta Fate The.Lineage . 
Rev Chg LTM-100.0%192.9%---23.4%19.9%-1.7%
Rev Chg 3Y Avg-70.2%1,513.7%---48.1%18.4%-14.9%
Rev Chg Q-93.9%--9.2%-61.3%9.2%
QoQ Delta Rev Chg LTM-17.6%493.3%-2.8%-11.5%10.2%
Op Inc Chg LTM49.2%11.8%2.9%-2.9%24.8%-31.6%7.3%
Op Inc Chg 3Y Avg-0.6%11.9%-67.8%0.8%17.7%-6.7%0.1%
Op Mgn LTM--151.9%-2,488.1%--2,058.1%-205.2%-1,131.7%
Op Mgn 3Y Avg--9,371.8%---1,914.2%-268.6%-1,914.2%
QoQ Delta Op Mgn LTM-33.5%12,570.0%-149.4%-50.5%91.5%
CFO/Rev LTM--169.6%-2,077.4%--1,570.5%-182.0%-876.3%
CFO/Rev 3Y Avg--10,711.0%---1,358.9%-248.2%-1,358.9%
FCF/Rev LTM--174.0%-2,272.9%--1,627.8%-186.4%-907.1%
FCF/Rev 3Y Avg--11,114.6%---1,392.8%-253.2%-1,392.8%

Valuation

INMBIBRXDNLINKTXFATELCTXMedian
NameINmune B.Immunity.Denali T.Nkarta Fate The.Lineage . 
Mkt Cap0.08.53.70.10.20.20.2
P/S-51.4172.0-34.318.742.8
P/Op Inc-1.7-33.8-6.9-0.9-1.7-9.1-4.3
P/EBIT-1.7-9.7-6.9-0.9-1.7-9.1-4.3
P/E-1.8-8.6-11.7-1.0-1.8-7.6-4.7
P/CFO-2.3-30.3-8.3-1.3-2.2-10.3-5.3
Total Yield-58.4%-11.8%-8.5%-100.3%-56.6%-13.2%-34.9%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-36.2%-9.4%-12.2%-50.5%-50.3%-10.2%-24.2%
D/E0.00.10.00.60.30.00.1
Net D/E-0.50.1-0.1-0.9-0.4-0.2-0.3

Returns

INMBIBRXDNLINKTXFATELCTXMedian
NameINmune B.Immunity.Denali T.Nkarta Fate The.Lineage . 
1M Rtn-32.6%-16.3%1.2%-31.6%-19.2%4.7%-17.8%
3M Rtn-34.0%10.8%-21.1%-31.0%-25.7%-13.1%-23.4%
6M Rtn-11.9%4.5%-1.0%-49.8%-23.9%-28.3%-17.9%
12M Rtn-28.8%277.2%31.1%-19.0%69.7%-46.0%6.1%
3Y Rtn-82.7%125.3%-5.9%-32.2%-26.3%-9.1%-17.7%
1M Excs Rtn-30.7%-15.4%3.3%-28.9%-12.5%5.1%-13.9%
3M Excs Rtn-38.6%7.1%-20.5%-33.5%-33.0%-9.8%-26.8%
6M Excs Rtn-17.0%-0.3%-5.7%-54.7%-28.7%-33.1%-22.8%
12M Excs Rtn-41.3%276.2%17.4%-33.4%41.9%-59.0%-8.0%
3Y Excs Rtn-172.1%73.9%-78.8%-106.0%-81.1%-97.1%-89.1%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment00000
Total00000


Assets by Segment
$ Mil201920182017
Single Segment241718
Total241718


Price Behavior

Price Behavior
Market Price$1.18 
Market Cap ($ Bil)0.0 
First Trading Date02/04/2019 
Distance from 52W High-53.2% 
   50 Days200 Days
DMA Price$1.91$1.63
DMA Trenddownindeterminate
Distance from DMA-38.4%-27.9%
 3M1YR
Volatility67.9%74.5%
Downside Capture433.38341.35
Upside Capture182.34263.22
Correlation (S&P 500)37.3%43.4%
INMB Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta3.462.452.762.962.591.84
Up Beta-1.91-1.98-0.101.721.031.33
Down Beta3.014.094.512.692.441.74
Up Capture160%110%287%510%744%502%
Bmk +ve Days12182862130427
Stock +ve Days8152753111344
Down Capture489%366%305%244%179%113%
Bmk -ve Days10253664121325
Stock -ve Days13263567132386

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with INMB
INMB-31.8%74.5%-0.20-
Sector ETF (XLV)29.2%16.9%1.3313.8%
Equity (SPY)9.5%13.6%0.4146.4%
Gold (GLD)3.6%28.7%0.1113.4%
Commodities (DBC)37.7%21.2%1.40-14.7%
Real Estate (VNQ)12.0%14.2%0.5513.3%
Bitcoin (BTCUSD)-20.8%43.3%-0.4230.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with INMB
INMB-42.2%83.4%-0.26-
Sector ETF (XLV)8.6%15.4%0.3622.3%
Equity (SPY)11.3%17.3%0.4833.6%
Gold (GLD)17.5%19.1%0.745.1%
Commodities (DBC)8.0%19.6%0.292.9%
Real Estate (VNQ)1.2%18.9%-0.0519.6%
Bitcoin (BTCUSD)5.9%51.5%0.2923.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with INMB
INMB-17.2%91.9%0.16-
Sector ETF (XLV)12.2%16.8%0.6020.2%
Equity (SPY)14.9%18.0%0.7025.6%
Gold (GLD)12.0%16.5%0.596.0%
Commodities (DBC)7.6%18.1%0.335.6%
Real Estate (VNQ)5.7%20.7%0.2316.8%
Bitcoin (BTCUSD)61.3%66.2%1.0115.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity2.9 Mil
Short Interest: % Change Since 93020268.6%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest8.2 days
Basic Shares Quantity26.7 Mil
Short % of Basic Shares10.8%

Earnings Returns History

Updated 10/29/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/30/20255.8%-5.8%-9.2%
8/7/2025-8.2%-12.2%-35.1%
5/8/2025-1.7%2.8%7.9%
11/1/20243.5%1.5%-14.4%
8/2/2024-6.5%-9.9%-24.7%
5/13/20245.7%13.2%-11.8%
11/1/2023-3.8%3.0%35.9%
8/8/20238.5%2.3%1.3%
...
SUMMARY STATS   
# Positive10108
# Negative9911
Median Positive5.3%2.9%11.1%
Median Negative-8.0%-11.5%-15.9%
Max Positive8.5%13.2%76.8%
Max Negative-19.1%-21.0%-36.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/30/20255.8%-5.8%-9.2%
8/7/2025-8.2%-12.2%-35.1%
5/8/2025-1.7%2.8%7.9%
11/1/20243.5%1.5%-14.4%
8/2/2024-6.5%-9.9%-24.7%
5/13/20245.7%13.2%-11.8%
11/1/2023-3.8%3.0%35.9%
8/8/20238.5%2.3%1.3%
5/4/20236.6%10.2%10.4%
3/3/2023-4.1%-21.0%-21.0%
11/2/20224.8%0.4%-4.2%
8/4/20220.8%-11.5%-21.0%
5/6/20223.9%-8.2%-3.2%
3/4/2022-8.0%-17.6%11.7%
11/4/2021-19.1%-17.1%-36.5%
8/5/20215.9%12.7%76.8%
5/6/20212.2%-11.2%52.7%
3/5/2021-8.3%11.3%-15.9%
11/6/2020-9.0%1.4%5.6%
SUMMARY STATS   
# Positive10108
# Negative9911
Median Positive5.3%2.9%11.1%
Median Negative-8.0%-11.5%-15.9%
Max Positive8.5%13.2%76.8%
Max Negative-19.1%-21.0%-36.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/30/202610-K
09/30/202510/30/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/27/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/09/202410-Q
12/31/202303/28/202410-K
09/30/202311/01/202310-Q
06/30/202308/07/202310-Q
03/31/202305/03/202310-Q
12/31/202203/02/202310-K
09/30/202211/02/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/30/202610-K
09/30/202510/30/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/27/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/09/202410-Q
12/31/202303/28/202410-K
09/30/202311/01/202310-Q
06/30/202308/07/202310-Q
03/31/202305/03/202310-Q
12/31/202203/02/202310-K
09/30/202211/02/202210-Q
06/30/202208/03/202210-Q
03/31/202205/05/202210-Q
12/31/202103/03/202210-K
09/30/202111/03/202110-Q
06/30/202108/04/202110-Q
03/31/202105/05/202110-Q
12/31/202003/04/202110-K
09/30/202011/05/202010-Q
06/30/202008/05/202010-Q
03/31/202005/14/202010-Q
12/31/201903/11/202010-K
09/30/201911/08/201910-Q
Core Cache Last Updated: 11/5/2026