INMB

MKT CAP:$37M

INmune Bio, Inc.

Market Cap

$37M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.38-$0.16 (-10.39%)

Apr 23, 2026

Company Details

INmune Bio, Inc., a clinical-stage immunotherapy company, focuses on developing drugs to reprogram the patient's innate immune system to treat disease. The company develops and commercializes product candidates to treat hematologic malignan...

CEO

David J. Moss

IPO Date

Feb 4, 2019

Website

www.inmunebio.com

Key Metrics TTM

Revenue

$50.0K

+19.0% YoY

Net Income

-$50M

EPS (Diluted)

-$2.13

Free Cash Flow

-$32M

Revenue / Share

$0.00

Gross Margin

44.0%

Operating Margin

-102752.0%

Net Margin

-99774.0%

FCF Margin

-63100.0%

P/S

733.8x

P/E

—

Earnings Reports

Q4 2025

May 6, 2026

PENDING

Q3 2025

Oct 30, 2025

$0EPS -$0.24

Q2 2025

Aug 7, 2025

$0EPS -$1.05

Q1 2025

May 8, 2025

$50.0K+257.1%EPS -$0.43

FY 2024

Mar 27, 2025

$14.0K-91.0%EPS -$2.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$163.0K	$163.0K	-$9M
Q1 22	$163.0K	$163.0K	-$6M
Q2 22	$16.0K	$16.0K	-$6M
Q3 22	$98.0K	$98.0K	-$7M
Q4 22	$97.0K	$97.0K	-$6M
Q1 23	$38.0K	$38.0K	-$6M
Q2 23	$46.0K	$46.0K	-$6M
Q3 23	$43.0K	$43.0K	-$9M
Q4 23	$28.0K	$28.0K	-$8M
Q1 24	$14.0K	$14.0K	-$11M
Q2 24	$0	$0	-$10M
Q3 24	$0	$0	-$12M
Q4 24	$0	$0	-$9M
Q1 25	$50.0K	$50.0K	-$10M
Q2 25	$0	$0	-$25M
Q3 25	$0	-$28.0K	-$7M

Valuation

Quarter	P/S	P/E
Q4 21	1055.4x	—
Q1 22	456.2x	—
Q2 22	435.0x	—
Q3 22	249.8x	—
Q4 22	335.9x	—
Q1 23	498.0x	—
Q2 23	599.0x	—
Q3 23	528.9x	—
Q4 23	1485.9x	—
Q1 24	1578.6x	—
Q2 24	1785.7x	—
Q3 24	2477.8x	—
Q4 24	6704.5x	—
Q1 25	3153.0x	—
Q2 25	1039.3x	—
Q3 25	983.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$10M	-$10M
Q1 22	-$9M	-$9M
Q2 22	-$5M	-$5M
Q3 22	-$3M	-$3M
Q4 22	-$6M	-$6M
Q1 23	-$1M	-$1M
Q2 23	-$3M	-$3M
Q3 23	-$4M	-$4M
Q4 23	-$3M	-$3M
Q1 24	-$7M	-$7M
Q2 24	-$8M	-$8M
Q3 24	-$7M	-$7M
Q4 24	-$11M	-$11M
Q1 25	-$7M	-$7M
Q2 25	-$7M	-$8M
Q3 25	-$5M	-$6M

Capital Expenditures

Quarter	CapEx
Q4 21	$0
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$706.0K
Q3 25	$193.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+1381.8%	+185.5%
Q1 22	+3975.0%	+45.9%
Q2 22	—	-2.3%
Q3 22	+600.0%	-16.5%
Q4 22	-40.5%	-37.6%
Q1 23	-76.7%	-2.7%
Q2 23	+187.5%	+0.8%
Q3 23	-56.1%	+13.7%
Q4 23	-71.1%	+46.5%
Q1 24	-63.2%	+70.7%
Q2 24	-100.0%	+52.8%
Q3 24	-100.0%	+43.3%
Q4 24	-100.0%	+12.6%
Q1 25	+257.1%	-9.8%
Q2 25	—	+149.1%
Q3 25	—	-39.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$2M	933.7%
Q1 22	$2M	942.3%
Q2 22	$2M	11787.5%
Q3 22	$2M	1978.6%
Q4 22	$2M	1843.3%
Q1 23	$2M	4571.1%
Q2 23	$2M	4050.0%
Q3 23	$2M	4393.0%
Q4 23	$2M	6710.7%
Q1 24	$2M	12707.1%
Q2 24	$2M	—
Q3 24	$2M	—
Q4 24	$2M	—
Q1 25	$2M	4152.0%
Q2 25	$2M	—
Q3 25	$3M	—

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$7M	$2M	$57.0K	—
Q1 22	$4M	$2M	$54.0K	—
Q2 22	$4M	$2M	$54.0K	—
Q3 22	$5M	$2M	$45.0K	—
Q4 22	$3M	$2M	$47.0K	—
Q1 23	$4M	$2M	$43.0K	—
Q2 23	$4M	$2M	—	—
Q3 23	$6M	$3M	—	—
Q4 23	$6M	$2M	—	—
Q1 24	$9M	$2M	—	—
Q2 24	$7M	$3M	$41.0K	—
Q3 24	$10M	—	—	$2M
Q4 24	$7M	$2M	—	—
Q1 25	$8M	$2M	—	—
Q2 25	$6M	$2M	—	—
Q3 25	$5M	—	—	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$67M	$0	$67M
Q2 22	$61M	$0	$61M
Q3 22	$57M	$0	$57M
Q4 22	$52M	$0	$52M
Q1 23	$51M	$0	$51M
Q2 23	$48M	$0	$48M
Q3 23	$42M	$0	$42M
Q4 23	$36M	$0	$36M
Q1 24	$26M	$0	$26M
Q2 24	$31M	$0	$31M
Q3 24	$34M	$0	$34M
Q4 24	$21M	$0	$21M
Q1 25	$19M	$0	$19M
Q2 25	$33M	$0	$33M
Q3 25	$28M	$0	$28M
Q4 25	$25M	$0	$25M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	17M	0.0%	+34.1%
Q1 22	18M	+3.1%	+24.8%
Q2 22	18M	+0.4%	+19.8%
Q3 22	18M	0.0%	+3.6%
Q4 22	18M	-0.1%	+3.5%
Q1 23	18M	+0.1%	+0.4%
Q2 23	18M	0.0%	0.0%
Q3 23	18M	+0.3%	+0.3%
Q4 23	18M	-0.3%	+0.1%
Q1 24	18M	+0.4%	+0.4%
Q2 24	19M	+7.1%	+7.6%
Q3 24	20M	+4.6%	+12.1%
Q4 24	22M	+10.4%	+24.1%
Q1 25	22M	+1.0%	+24.8%
Q2 25	23M	+3.6%	+20.7%
Q3 25	27M	+14.1%	+31.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$16.3K	10
Q1 22	$16.3K	10
Q2 22	$1.6K	10
Q3 22	$9.8K	10
Q4 22	$9.7K	10
Q1 23	$3.8K	10
Q2 23	$4.6K	10
Q3 23	$4.3K	10
Q4 23	$2.5K	11
Q1 24	$1.3K	11
Q2 24	$0	11
Q3 24	$0	11
Q4 24	$0	13
Q1 25	$3.8K	13
Q2 25	$0	13
Q3 25	$0	13

Revenue / Employee