INmune Bio Inc (NASDAQ: INMB) is a clinical-stage biopharmaceutical company that develops therapies targeting the innate immune system to treat cancer and neurological disease. The company generates no product revenue, funding operations through equity issuances including at-the-market offerings, most recently via a Sales Agreement with A.G.P./Alliance Global Partners dated December 9, 2025. INmune Bio's pipeline includes INKmune, a platform designed to convert resting natural killer (NK) cells into memory-like NK cells capable of killing cancer cells, which completed a Phase I trial in high-risk MDS/AML patients in the UK before enrollment was terminated in March 2024 due to post-COVID recruitment challenges. The company leases approximately 5,000 square feet of office space in Boca Raton, Florida, and conducts a significant portion of operations outside the United States. As a pre-revenue clinical-stage company, it is fully dependent on external capital to fund research and development.

Revenue model

No product revenue as of the fiscal year ended per the 10-K filed 2026-03-30. Capital raised through equity offerings, including an at-the-market facility under a Sales Agreement with A.G.P./Alliance Global Partners (dated December 9, 2025) and warrant-related transactions.

Products and services

INKmune: a cell-based platform that interacts with patients' NK cells to convert them into memory-like NK cells targeting cancer cells; intended for hematologic malignancies and solid tumors including leukemia, multiple myeloma, lymphoma, and cancers of the lung, ovary, breast, kidney, and prostate. Phase I trial in MDS/AML was conducted in the UK; enrollment terminated March 2024.

Customers and end markets

No commercial customers as of the filing date. Target end markets are oncology (hematologic malignancies and solid tumors) and, based on filing context, neurological disease. Patients in clinical trials are the current end recipients of investigational therapy.

Value-chain role

Clinical-stage drug developer. INmune Bio sits at the research and clinical development stage of the pharmaceutical value chain, with no manufacturing at commercial scale and no approved products as of the 10-K filed 2026-03-30.

Geographic exposure

Headquarters in Boca Raton, Florida. Significant operations conducted outside the United States, with currency exchange rate exposure noted in the filing. Phase I clinical trial for INKmune was conducted in the UK.

Source: SEC 10-K, filed 2026-03-30

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