INmune Bio Inc. ( INMB ) stock surged by 24.72% in after-hours trading on Friday. The company announced a novel selective soluble TNF inhibitor, which is likely to have influenced the stock’s performance.

Check out the current price of INMB stock here. 

What Happened: The stock of the Florida-based biotechnology company closed at $2.71 on Friday, down 2.52%, before rising to $3.40 in after-hours trading.

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INmune Bio ( INMB ) revealed that additional analyses from its Phase 2 MINDFuL trial, which evaluates XPro, a novel selective soluble TNF inhibitor, will be presented at the Alzheimer's Association International Conference (AAIC) in Toronto, Canada.

The presentation is scheduled for Tuesday, July 29. The trial is a double-blind, Phase 2 proof-of-concept study examining the potential of XPro to slow cognitive decline in early-stage Alzheimer's disease (AD) by targeting neuroinflammation.

Dr. CJ Barnum, Vice President of CNS Drug Development at INmune Bio ( INMB ), said, "We are encouraged by the promising findings of the MINDFuL trial, which highlight the potential of XPro to address neuroinflammation in Alzheimer's disease."

Why It Matters: The stock of INmune Bio Inc. ( INMB ) has been through a rollercoaster ride in the past month. It was downgraded by Scotiabank to ‘Sector Underperform' and BTIG to ‘Neutral' on July 1. However, Maxim Group maintained a ‘Buy' rating on the stock on July 2, albeit lowering the price target to $8. Following this, the stock also saw a surge in share price on the same day.

After its Phase 2 Alzheimer's trial missed the primary endpoint, INmune Bio's ( INMB ) stock had dipped earlier.

Despite these fluctuations, the company’s latest announcement seems to have had a positive impact on the stock, with a significant increase in after-hours trading.

Price in Action: According to Benzinga Pro data, INmune Bio ( INMB ) gained $0.69 to reach $3.40.

Benzinga's Edge Stock Rankings indicate INMB stock has a negative trend across all time frames. Know the stock value of other biotechnology companies.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.