INmune Bio: CORDstrom Is A Game-Changer, As Investors Await Alzheimer's Results

2025-03-18 16:31:01 ET

Summary

• INmune Bio's CORDstrom for RDEB shows promising results, supported by FDA designations, and could lead to a 9.8x stock revaluation.
• XPro for Alzheimer's has significant potential, with a $24.76 billion valuation if successful, offering a 135x stock upside.
• CORDstrom may act as a fail-safe for INmune Bio's stock if XPro fails, ensuring a high likelihood of substantial returns.
• Despite high risks, the combined upside potential of 9.8x-144.8x for both programs warrants a very bullish rating for INmune Bio.

Thesis

INmune Bio (INMB) has recently announced that it will be seeking approval of CORDstrom for the treatment of recessive dystrophic epidermolysis bullosa [RDEB] after favorable investigator-initiated trial results. CORDstrom was out of focus of investors. The FDA recently supported the program by awarding Rare Pediatric Disease Indication and Orphan Drug Designation. A BLA filing should follow later this year.

CORDstrom for the treatment of RDEB is a game-changer for INmune Bio given the high degree of certainty of chances of approval in RDEB. The reference stock in that respect is Krystal Bio (KRYS), currently having a +$5 billion valuation. Contrary to Krystal’s topical treatment, CORDstrom is a systemic disease-modifying therapy.

INmune Bio’s primary program for investors remains its dominant-negative selective TNF inhibitor XPro, in trials for Alzheimer’s with biomarkers of inflammation [ADi]. The mechanism of action, preclinical and Phase 1 results support a positive topline result on cognition. The company believes that it may be able to apply for Breakthrough Therapy Designation after topline Phase 2 data....

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