INmune Bio Inc. Common stock (INMB)

FairStock Score: 64/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Looking at INmune Bio, I see a clinical-stage immunology company with 21 employees and no meaningful commercial operation. Revenue was just $50,000 in fiscal year 2025, the year ended 2025-12-31, down from $155,000 in fiscal year 2023, the year ended 2023-12-31, and it lost $45.9 million in fiscal year 2025, $42.1 million in fiscal year 2024, and $30.0 million in fiscal year 2023. That is not a business with a moat; it is a science project financed by shareholders. The balance sheet shows low debt-to-equity of 0.07, which helps, but trailing free cash flow is negative $15.7 million, a negative 33.7% free cash flow yield on a $46.6 million market cap. The Piotroski score of 2/9 and Altman Z-score of -7.35 confirm financial weakness. Based on the 2026-10-13 close, FairStock shows a negative P/E of -2.71, P/B of 2.27, and ROE of -74.82%, so price is not anchored to earnings or book value in any Graham-like way. The only recent improvement is smaller quarterly losses: in fiscal Q1 2026, the quarter ended 2026-03-31, net loss was $5.4 million, and in fiscal Q2 2026, the quarter ended 2026-06-30, it was $1.3 million, but that follows a $24.5 million loss in fiscal Q2 2025, the quarter ended 2025-06-30, and does not prove the pipeline works. At $1.68, the market cap is small, but the company must keep raising money and passing trials. I prefer businesses with durable earnings power and a margin of safety. Here, I see a lottery ticket with a 64/100 FairStock score, not a value investment.

In plain English: INmune Bio is a small clinical-stage biotech trying to develop immune-system medicines. It has almost no revenue, loses tens of millions of dollars a year, and burns cash, so the business looks financially weak and unproven. At the 2026-10-13 close of $1.68, the price is not supported by current profits or sales; it mostly reflects hopes for future trial results, so it looks speculative rather than cheap in a traditional sense.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer