INmune Bio Inc. Announces $9.7 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Boca Raton, Florida, April 25, 2024 (GLOBE NEWSWIRE) --  INmune Bio, Inc. (NASDAQ: INMB) (the “Company”), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, today announced today that it has entered into definitive agreements for the sale and purchase of 986,000 shares of its common stock and warrants to purchase up to an aggregate of 986,000 shares of its common stock at an offering price of $9.84 per share of common stock and accompanying warrant. The warrants include an acceleration clause upon positive top-line data in the Company’s Phase 2 Alzheimer’s Disease program (as further described  below).  The offering was priced at-the-market under Nasdaq rules based on the average of the previous 5-days’ closing prices, or $9.84 per share which includes $0.125 per warrant. The warrants terminate on the earlier of (1) the two (2) year anniversary of the initial exercise date of the warrant or (2) thirty (30) trading days following the reporting of positive top-line data (EMACC) in the Phase 2 Alzheimer's program of XPro1595, (the “Termination Date”). The gross proceeds of this offering are approximately $9.7 million before deducting placement agent fees and expenses. The closing of the offering is expected to occur on or about April 29, 2024, subject to the satisfaction of customary closing conditions.

The net proceeds is expected to fund the Company through the readout of the ongoing Phase 2 trial (AD02) in patients with Early Alzheimer’s Disease (AD) using XPro and through the metastatic castration-resistant prostate cancer (mCRPC) Phase 1 trial using the INKmune technology.  

Maxim Group LLC is acting as sole placement agent for the offering.   

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-254221) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from Maxim Group LLC,  300 Park Avenue, New York, NY 10022 or by telephone at [phone] or by email at [e-mail]. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.