INMB - Earnings call transcript Q3 2024

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Operator

Greetings, and welcome to the INmune Bio Third Quarter 2024 Earnings Call.

As a reminder, this conference is being recorded. A transcript will follow within 24 hours of this conference call.

At this time, it is my pleasure to introduce Mr. David Moss, CFO of INmune Bio. David?

David Moss

on good the We Third of J CEO call financial of With and and joining you Quarter Bio; and Chloe, are INmune Scientific results. for today our Officer Bio; Barnum, Neuroscience. us for me Lowdell, Co-Founder you, of afternoon, J C Dr. thank everyone. Head for XXXX Dr. INmune Thank R call Mark Tesi, Chief the Dr. INmune Co-Founder Bio's and

from the everyone to earnings the the remind the provisions factors I statements on can begin, risks except no those management as for results responses Reform facts, statements the we Before SEC. safe specific on of the forward-looking historical of that as Securities forward-looking company's company's involve assurance Litigation and see quarter filings, call actual our Act statements and differ of uncertainties There's well harbor statements outcome. statements. Private risk forward-looking under the any as such most Please are by of that cause recent including made filing the statements disclaimer this with XXXX. SEC to questions conference in press release materially These

to on placed required by and law, as made as be these may as events Except circumstances statements statements update not obligation or change. forward-looking future statements, date information, the underlying INmune should they reliance disclaims which speak only facts forward-looking to the Undue circumstances. of are these any reflect forward-looking Bio

RJ Tesi. turn it's my to Dr. call statements the over us, forward-looking to behind now the With RJ? pleasure

Raymond Tesi

to everyone. and good Thank afternoon you, David,

Mark pass Bio, on developments review and of will CJ updates Barnum, Then update Alzheimer's provide programs our depression our Dr. following inventor quarter on Dr. the our David a your who development our pass runs to my to third I will a INmune the Bio for which and quarter microphone questions. on will recent the INmune takeaways CNS metastatic the key an and to update after treatment-resistant prepared call, include [indiscernible] will it I with the be castrate-resistant cancer. the an program. For remarks CSO in third who the results [indiscernible], provide financial for Lowdell, XXXX review of of platform efforts we review program and at will happy our founder will prostate I program take

September global, XPro foremost, inflammation. of trial This team. we with ADOX major huge biomarkers the and that that blinded we on and a overshadowed incredible II there. to disease for milestone XX and that reached achievement get First our required milestone symbolizes randomized was in closed of announced a Phase enrollment our patients was and This work to and really was Alzheimer's visible

countries we a to trial team complex perseverance demonstrated conducted managing the many program a the the The sites fast, hurdles, Despite landscape doing outside being and efficiently. In forced work in ensure some likely remarkable trial the regulatory is global clinical a of preparation by navigating U.S. in continues. had us very III are couple complexity we've and -- the highest Alzheimer's of careful that smart Phase XX with and the with that a so, delivering will study reviews provide our sites more for program. that may standards, experience of to should or quality most more countries of provide This this include successfully

into the disease. efficiency profile early and depression, underscores prostate can in XPro's programs profile data cancer only advancing and Alzheimer's provide we our are sites international emphasize safety generating I with not beyond. [indiscernible] resistant to are but our translate in achievement confident diverse will that our safety The we insights Furthermore, our critical to the in other program commitment AD, patients and robust

advanced prostate most cancer the of cohort dose that not in overlap patients recently INmune program our patient portion metastatic and to is design the Phase only Phase highest PC, of dose currently the we patients is trial. also a X this Bio. into castrate-resistant MK novel is enrolling enrolling allows parts are program, focused cohorts do with is II asset a the dosing highest II been cancer XPro enrolled I We basin have clinical first INKmune, it CaRe trial Phase is the Phase a the at While that trial. open-label extension the call the middle of into you This and cohort. I/II

with September excellent showed safety cohort were the and safety late do Do teams the we've not that for of men importance metastatic effective are of patients profile, INKmune. the in effects and significant treating for NK low-dose immunologic released -- toxicities. these cell when prostate expect and XX looking department clinical underestimate Patients The come castrate-resistant average which frail in mCRPC therapies men first the consistent U.S. from their the not as with the cancer. in Results progresses. disease age confirmed old. years to and the is cause increasingly become

well INKmune efficacy cancer as forward toxicity continue better the to Prostate higher far, treat to meets Foundation, that important we introduced of program The at understanding Cancer Cancer community to clinical was U.S. Meeting the So The the low prostate XXst leaders threshold. look program doses. last weekend in meeting the the patients Prostate a We at received. was Community. includes Annual that Scientific

development soon to will will ongoing trial Phase INKmune more in and now, in-depth trial. efforts. CJ? who a II be are it report Mark to turn for on more like to moments. few he our ImmunBio-CNS Barnum, provide on I'd depression started treatment-resistant a But CJ over details Lowdell provide leads drug

Christopher Barnum

cognitive an improved update function exhibit placebo. primary demonstrate our Thank II receiving ADOX lies coming Alzheimer's with on study. what start I'm our programs clinical in to of compared that will The with provide RJ. outline I here months. you, and is XPro treated objective the those to ahead Phase patients XPro to

completed. As reported has last month, enrollment been

of the the our and data results. enrolled the to these crucial between on this release patient data During preparation line top and team of phase delivery collection clinical diligently focused is expedite critical last

have Notably, trial. to this our data continually expectations quality highlighted its of collection change cognitive endpoint, surpassed performance early ability our vendors exceptional and and aspects of [indiscernible] X patients our of The disease. primary Alzheimer's which the superior outstanding measure third-party has in with

X. that some all thrilled has primary cognitive [ instrumental it's as dementia scale, endpoint secondary EMAC about boxes. we're served While the cognitive clinical further endpoint. CDR second strategy, regulatory key webinar will we EMAC insights been and providing well-validated ] To a trials, note the important our by to be X endpoint potential, empowering a approval we into in by rating the III is on This the provide for anti-amyloid and study on Phase powered a mitigate of gaining pathway in ADOX regulatory hosting November risks

additional shortly. neuro lead and the you Our expect can details consultants webinar about discussion, the will site

weeks. On over of a opening our biomarkers with track, the The placebo-controlled X XPro by parallel first critical inflammation. blinded, updates the making it that also endpoint for study. end subserves future and of this significant scales receive and site NIH-funded more launching data primary calls. to trial We MRI patients RJ. sharing future over will look This brain in proof-of-concept in provide a is I'll a necessary clinical that pathway to change forward Thank depression measure the turn conduct functional you, to on within This will Participants team depression. year. is our back course We the trial progress enroll operations placebo anticipate will in information. trial the of or will XX Phase treatment-resistant II study randomized,

Raymond Tesi

the Thank program. the INKmune you, that, discuss Mark? microphone turn to . CJ. With to Mark I'll over

Mark Lowdell

and for call. Thank afternoon, joining RJ, you, Thank everyone. good you the

So our opened time of [indiscernible] of and the continues to recruit this the Phase II now dose which patients have RJ a to we as in further RJ trial line design [indiscernible] that INKmune receive the in said, with dose described. intermediate cohort, line, the X allows predicted completely extension

first The the receive extension enrolled There awaiting group Meanwhile, a his apparently, these November. of identified this of have in patients first the of week patients screening. the treatment. patient was on cue first will were and is begun treatment and already X Xth high-dose

group extension We II expect to and then days. the patients February highest in immediately of patients during high XXXX complete X treatment the in dose this further Phase at January progress for March to and all

the available. Monitoring are cohort as is in and intermediate [indiscernible] underway patients in results they as soon response communicated will be

generation we lowest said, saw the in in in tumor RJ INKmune-related with dose potency NK cells the in killing increased these NK cells As of the activated of cell function peripheral at and assays. changes X blood in patients in the NK increases first

eagerly the cohort, So the we'll which dose keen share. second be awaiting from we're to data

cancer cell allows INKmune. adds preclinical consider and castrate-resistant of us completed for as clinical metastatic see group. tumor this ovarian development the trial lymphoma solid our preclinical potential And other in prostate and cancer for many options to first cancer, recently cancers renal future multiple blood study We of of targets B-cell drug. a our data to This we've as

the up aspects work of are which poster a that or is pathway, with made trials Bio likely and drug chemistry development, report the and further to much drug meets simplify at but cost what's laser-focused this, and which called moving but progress development, the scale, market drug more fivefold, rather I'm is the aspect least not global demand. CMC also requirements to children less is meets development a full significant of glamorous more, INmune to manufacture in trials delighted from requires cost manufacturing we've control underway. Clinical of efficiencies, associated scaled on regulatory effective manufacture manufacture and

Phase with many we many I of subsequent the If we trial world. the provides already and ready drug clinical United for make of States, of and trials intermediate most in the of easily trial be INKmune worked delivered at All clinical this complete we've distribution X manufacturer of support years our manufacture the will for With sites. II future And protocols many products data, sites And stock doses in registration the storage delivery at local this X the submission. I infusion are PC years to drug stability before of to will and [indiscernible]. ready month and Phase then BLA drug the to clinical and many, to for facility team our the from of remainder in the over the efficacy extension storage hope CaRe that and [indiscernible] the the for commercial say and data are engineer up end to U.S. drug current shipment year.

update CFO, like discuss the Moss, my David and to So ends our that to the I'd the call INKmune over on platform, to David? financials. turn

David Moss

Mark, you, and Thank CJ. RJ

upcoming financial session. our I'll a milestones usual, Q&A before we brief of provide As our results overview head to and

is the X.X issued in financing, company were that million million company to the if terms accelerated, outstanding the raised to stock million of raise members the we $XX registered a employees pursuant equity and common X.X the an of underscore aggregate ability potential note [indiscernible] pleased occur. In Bio common approximately the from have success approximately capital. this north quarter, I'll entire purchased third X.X have Board million it of of $XXX,XXX has if with be cannot all warrants aggregate team to management a for million and In of proceeds additional our with Directors which warrants just of offering. company. and would about to committed of were warrants and warrant the exercised agreement, $XX acceleration the During shares gross to X.X-year and and financially align in direct how the about shares the stock, of term total, INmune the the The stock.

We in INmune offering investors, appreciate existing Bio. at and new with greatly the from saw we also along the our support team here both

financials. current -- 'XX. development loss and XX, compared for the Now million moving compared period comparable $X.X the the QX approximately attributable equivalents approximately expenses administrative XXXX, XX, our $X.X we million and XXXX, operating approximately operations had for September the our XXXX, in $XX.X approximately $X comparable period was for plan, the September of in XXXX. General and our period September ended approximately Net the with ended At XXXX, the common XX, $XX.X compared sufficient $X.X approximately in quarter of believe totaled the fund comparable were on quarter for approximately with into for 'XX. to million. the Based cash XXXX. to period stockholders for XX, September million, to $XX.X ended million million Research cash with million expenses is company quarter on cash

As had shares the of XX.X million approximately October outstanding. company XX, common of XXXX, stock

focus Now upcoming I'd milestones. some like to on key

Disease our We have of XXXX. expect in cognitive in QX II line Alzheimer's trial data to top from Phase

trial II XPro this Phase year. in end as of We the initiate had mentioned depression, patients CJ will a with of treatment-resistant towards

portion had of complete the program, third January enrollment as as Results QX, they the cancer and of QX in expected trial of released II will cancer, castration-resistant become complete to around prostate cohort to 'XX Mark in expect either completed XXXX. the is the metastatic available. We mentioned, Phase be from be

Although funding remaining continue a additional we've cost primary to potential in prudent on the achieving expenses as secured R&D the had -- always, we to recover have portion we focus clinical objectives U.K. while our Australia and of with

some wind We of will of spend. lower. the beginning note on in our should sites reduce we off down program help our ADOX of further this those debt next have will quarterly year, paid I'll and X year, get to Valley start bank which in Silicon expect see costs also December to do the

a good the secured our meaningful focused we're focused and execution XXXX, we into we're recently infusion us equity programs. that of position puts on in summary, -- In

At this remarks. RJ turn microphone point, conclude the our like to RJ? I'd to to back prepared

Raymond Tesi

We Thank up CaRe in Disease our INmune metastatic are to like [indiscernible] in with our II next castrate-resistant mindful David. in call. chapter our in Bio hope story trial at we you, depression prepared are to open another Phase our prostate as data D&S quarterly cancer. treatment-resistant I'd we and by towards and down Alzheimer's Phase before work PC wrap remarks head II saying

We net questions. we our strong strong science you solutions achieve we for to through medical to them committed may appreciate goals. cutting-edge poll thank We problems have for and provide to important see as milestones. to our and investing shareholder the have and I'd base, unique difficult and programs like us alongside all backing our funding work Operator,

Operator

We our take first Gary Instructions] [Operator question James. Nachman from Raymond will with

Gary Nachman

progress. Congrats on the

questions. a So few

of been like? And the in II road? commercially. the when biomarkers. think for would patient you XPro about it enrollment, you about a been be a process right think in with moving or if the inflammatory Phase what selective that down bigger Phase -- when Talk you've you up end Alzheimer's, First, challenge looking how has to III XPro even

that follow-ups. So have then couple start I with a of and

Raymond Tesi

Yes.

Let RJ. and add then I'm is have to comments. sure to something will start, CJ my me This

matching which disease, to with neuroinflammation So really activation Gary, on mechanism as transparent was to targeting this. of the glial program. we've the about and things, important believe been clinical this you know, XPro, very derisk based X we is us that patient's is and One, allow the

And we probably patients. So caucasians inflammation are that out that patients in focused have turns on be XX% of driving their Alzheimer's about Disease. to

me And let good example. you give a

clinically of One Alzheimer's every virtually which ] presented, APOEX. Madrid the at a here use large XX% the I'm of APOEX. biomarkers in [ is have that meeting, the CTAD focused and is trial And patients is meeting we

gain I large -- company we're the we willing comfortable can XX% market. So of very small to are so derisks early success we XX% the can I'm clinical accept a -- for targeting of patients. to saying a strategy that And have trial, the is

there? meeting with issue that be, at I that different some major of the what want up ideas, will Now to anything it have And we'll think I'm a you end I sure, expect the topic a is confidently. do to I -- don't -- to at around not be of be Phase question. this II manage we but FDA. add but discussion CJ, predict the able know will regulatory

Christopher Barnum

your Gary. please I quite -- correct don't me. And I'm maybe if answer question,

going think major with into there move beyond I III a the is Phase inflammation. as right, issue because plenty simple answer be I and is of think RJ's are patients don't the to is biomarker we

the apples-to-apples. our more early study or with with do an selectivity has sort Our restrictiveness comparing trial to really phase of

you're similar makes So study have more want what little make that's, pathology. you challenging a to sure in And enrollment. for really that in this that ways, patients it some

stuff. So the the at as inflammatory I to that's the probably issue look think compared bigger data I

Gary Nachman

out timing think you just data endpoint. I the helpful. the are will patients have that you release, later up that at the XQ Okay. press end that enrolling of -- That's XX-week screened some push given in potentially to then said the readout And could already still point, in if

thinking your look don't within then the I remind challenges So in half? out months? that other EMAC XQ the XX-week seen that, also second first be know confirm us about confidence half whether on some the just studies they or And we just given when the X should of that we've Alzheimer's endpoint score, in

Raymond Tesi

XX the we're length. seen smarter of We've one lot say months, me seen more not and We've Yes. are I And when start with that weeks. raft designing is is trials. people short noted mean be some meeting mean of Well, which a short, I I the trials. so the can they at XX-week X-month I short. seeing let And XX things trials. a trials

in comfortable very We X-month are have been loud our we very claims with that a endpoint.

there. concerned not we're So

And necessary, believe the we that the waking of kind you particularly XX-month of fact really mechanism trials field actually not if your that to are up is the drug. know [indiscernible]

right. You're

-- extra are after patients off already to in are can't are commitment cut patients who that in and not screening the involved who's -- the going a screening. There's few made We in they've program. be a process. to there say We're the the screen you some patient

days of point. the So the from rung drop system dead XX been date now, will that that by have is about everyone out

can mean is data clean, QX, that So that requires to team and CJ results start I quickly. think from quite data correct publish sure operational are about be clinical and to But the database -- you mentioned it CJ's comfortable operations -- the we have so with in lock and I the make XX/X claim. and we working thinking I can David clock the perspective. I think that and expect we

Gary Nachman

question, just then bigger picture. RJ, last And Great. Okay.

of goal with for about M&A So the acquiring $X.X billion potential in on an to that does your impact stage in thought Alzheimer's, news AbbVie thinking have [indiscernible] how early this is space, just out there? if just evolving? discussions, on of that, having level potential at interest what And sort all, how you have it any might partnership been be the

Raymond Tesi

anti-amyloid Well, I'm has are I [indiscernible] anyone most are. really the that do all we efficacy we're buying of Yes. or amyloid M&A time have safety for not drugs that assets getting really occurring, strongly Since waiting walking results data. we different. believe they amyloid what know talks to that what going of job to is the But you will says, may similar Moss is where with is David those predict the profile, them of which pair they been I everybody programs, tell down path, derisked. up of can consider profile an be the rid from brain, the and excellent every

believe every of targeting glial is how -- once we people a makes difference, a be show will we rings And once the starting that weather very So, the calls. activation really they're but while, -- phone in that conversations. people kind

We goes it's it always what I real development And have we frankly, David that place. data. says, deep said in When all back about talk. will no quite seated discussions data, business to people get

Operator

Scotiabank. next move We'll with George to Farmer

George Farmer

some them, the would you And can then comment these as that be going I to follow-up. are Alzheimer's could I that that about the was extent you're different to ones you're And as great. well. that you have mentioned gearing screening disease? on up be study you same a Are for inflammatory to they if do. wondering depression biomarkers your talk the in Or

Raymond Tesi

CJ?

Christopher Barnum

Yes. excited for about. is asking. Thanks. really I'm that This Great question. the program Thanks

patients that's the have by Miller, in on are is that researched at led support University with yes, to answer this both data that and well simple animal the Felger. clinic And based we Andy Gen inflammation. really a by So group Emery for enriching is, studies,

pleasure lack to treat, with using. difficult things behavioral that that you symptom a biomarkers of X protein. and other [indiscernible] a is is of tied is, And and -- pleasure driving biomarker what one the inflammation. depression, know tightly of a of and those enjoy. don't have we is anhedonia It's One symptom blood you of So C-reactive we're the it's that it for very is regulated core

across based we between by is see start So X XX% biomarkers. way, for that patients we biomarkers on meet this XX% will you'll biomarkers. again, criteria selecting inflammatory to And those those will consistent patients be somewhere about we And somewhere any program of theme expect and around inflammatory XX%. is that that XX% the the

that. So X are biomarkers the key with associated those

George Farmer

trial move continued Okay. Great. that need impact you PSA, And have reductions on a see to interesting. which you give order to this that in Specifically, on is about in you Very but any with great, you INKmune. do And you What need to is seen to then this program? [indiscernible] question worthwhile, really investment in talked see do tumors? measurable confidence forward

Unknown Executive

very [indiscernible]. a It's good question. you. Thank

I a it's Phase all, of first So trial.

treating with very, advanced we're bulky So very disease. very patients stage

know immunological an against I know into risk have better we that tumor good that moving patient with their NK immune prostate response is changing development because from with an from it group their So what prognosis better research that to want to is responses cancer. ability perspective, a indicated means in a patients we're other further make that drug because

the able but individual individual I while this group, within scans, are already We've some we've at tumor PSMA only patients. others informative. got got tumors at tumors some the think evidence because probably are we very to do to be that is their And shrink total not With look that look load, to particular PET going growing.

yes, convinces outcome for Rettig any basically, having that that clinical the that form what to response. the clinical chief [ a we're convinces falls response. is data, me that believe looking it really to So been in And as of there's him so a he's will a able to investigator ] clinical data be it say, I'm Matt

Raymond Tesi

one to to Just bit. comment, I go and back want safety add the

that because you he prolong all his lot you having are of a patient said quality life, below with therapy programs very targeting if the the things the even a are good age. important that tumor, the but significantly [indiscernible] that [indiscernible] of metastatic subset of prolongs a of life of life is the a in spends completely meat group metric patients really One -- the don't [indiscernible] this has is eradicate

they're late and early XXs that is mentioned the So in their age already XX. median or I XXs,

really more lot much So the they a -- regimens. of patients of this because traditional get in don't tolerate toxicity fact, can't the care of

to I we're the -- kind coming keep we community. see effects a attractive going back be the profile. cancer of really is of we and safety So If the effects, big expecting. This that segment prostate tumor to immunologic for

Operator

move next We'll to Joel Beatty with Baird.

Joel Beatty

Thanks trial. Phase for finishing in lead trial analysis of to shared is, interim or trial. since that . the update you time? disease on the and first question any Maybe congrats this enrollment a since the Any operations earlier then in II would differences summer, Alzheimer's the changes favorable

Raymond Tesi

CJ?

Christopher Barnum

Joel. Thanks,

is I'm I but sure a more follow hear analysis. done stab we've that. interim what And no let changes at can question, think webinar. as I to about So me I it. we've you're data continued understand on anything, not to your relates that There are completely If to -- going take it the the

sure answer of I your sort for not the I'll So if I'm next have comments -- so But question week. [indiscernible]. state .

Joel Beatty

that at getting different. enrollment to be enrollment And asking that the of data the time the the different what would you're know expected the variance occurred any analysis since be and interim interim? I'm has criteria collection I of data the as or since I if such don't think I might it. be patients is guess

Christopher Barnum

just okay. Yes, Understood.

answer the is So, no.

data, hasn't better yes, And yet. what we it well, better -- this But we answer data more as detail the in again, criteria looks. get to the more actually, short changed the the we're changed seeing more described webinar. going get, numbers. is the -- it's is, We answer in be haven't [indiscernible] the are But

Joel Beatty

it Very on then call good. maybe look most cellular the on think -- a I INKmune. that more highlighted medicine easily and of the -- more in question the might in It's you the I it's today delivered webinar. now you in kind the delivery the been can And it world. future? as and forward look on elaborate Could past on be to I the guess .

Raymond Tesi

Mark? .

Mark Lowdell

certainly. Yes. Yes,

through cells, you below. hospital. I then pharmacy known degrees that's medicines have they the route Centigrade delivered into of to when a think, if we're they to go the [indiscernible] get Every direct is bedside. other go from [indiscernible] to in, think not special And comes X patient. issued drugs that So and handling other a through nitrogen every XXX at shipped virtually and the in pharmacy drug they about like phase go held pharmacy route, in better or vapor minus into patient CAR-T is then hospitals, quite most in often to And the them

And so to we've work that. INKmune got a lot into make fit of from get-go

goes it comes in since It buy [indiscernible] device microwave there's automated hooked minus the gets box cool have by [indiscernible] through stored it washing it's has bedside, it's goes chemotherapy XX%, and up that us. bag [indiscernible] pump. at And done. in a and gets patient the in goes an a into then developed a for pharmacy it's So minus that freezer we in the it It a -- COVID vaccines. no it the COVID, we peristaltic and close. when has And it program XX a being when that is many every like goes but goes many, like like detects many, to delivered thawing in, developed in, ready, any of those. been other thereafter type bit bag And

be of using these patients. [indiscernible] outpatient their like to because familiar setting. it. delivered like of it's they're around about bed. coming vapor nurses exactly lot there's spilling nothing meant it vapor And scary Patients isn't with There what off is it the because nitrogen So phase this in in the gas is

other to and go So which be and into hospitalized, able we've these therapies are delivering in not have CAR-T veterans been hospitals cenomedicines. patients the U.S., don't even to

this, we effective. the local really therefore, drugs easy So in the very delivery have cost storage that temperature of fits and and other a it nailed makes with and

with to what the tailored that's we practice about [indiscernible]. that. clinical We've fit So delivery routine other in meant and

Raymond Tesi

staff. made This be patients centers have gone our infusion tools that and -- Mark have never mean group point medicine. be the treated and that at in videos of medicines. a need and any the giving pharmacy and was And them. And well. Mark are the reemphasize and just were X not staff have can I this if this first to used through very were his in given sites cellular And for to it, it in fact, training comfortable nursing can and cellular went things nursing the perfectly Yes. And were they given team that I that sites used does commercial site.

So It's now waiting it's patient's cancer . that so that helps really patient-friendly. But show time And it's really, a clear and bit the determine. the more we're hopefully not little take to will friendly to to user-friendly. disease.

Operator

next move Tom Shrader We'll BTIG. with to

Thomas Shrader

to drug return I -- TRD talk about will really the enough built wanted early, guess the clinics? for something infrastructure that we a about because to I you. know I in close area I And thought it's follow-up. been then go specifically, into is have the but commercialization the have injectable never ketamine How of setting? Is you the that. that could this And an have delivery TRD

Raymond Tesi

CJ?

Christopher Barnum

category would the in of I can not put I that. Yes, answer ketamine. this

injectable home themselves. I be the and more is shot, an do insulin going will be take to by this think like patients to able and

even so other these think the more these inflamed much to injectable, disease inclined going there a think depressions, the disease that the that going I we're with mild these try maybe in is more to have -- are qualitatively are not in we're don't typically but issues first, targeting, drugs are more a patients depression. perhaps any is psychiatric severe for that people to pill be I But where have which And So are have or as different this ones injectables. treatment-resistant disease, process.

And when to that some you give question, clinicians specific treat talk that the and even to this you that. of they don't it ask

obviously, remains we'll this be out. So at I point, we how it But it think plays to have any think -- seen don't it issues.

Thomas Shrader

it's . [indiscernible]. So an

David Moss

Yes. same it's patients. for AD . Yes, as we the the give

Thomas Shrader

It seems going like given role X Is CJ in And it's psychedelics. all sort more changes could, slightly play easily the then of inflammation Does known? a question. on? that wacky the

Christopher Barnum

[indiscernible] have not have It's to very some psychedelic ready that spend I'd I question. I'm know. a that's for No, Yes. don't -- answer. don't I time okay.

Raymond Tesi

just first GLP comfortable considerable and totalize we revolution and about subcutaneous I ago drugs. now injection. question, your delivery think that with was a is subcutaneous there completely the remember years if I delivery can fact was of is everybody I Tom. big Now when this on started, of many advantages concern can of obesity the one And

subcu at Lilly their with donanemab drugs. formulation so you in anti-amyloid for to they're at ], moving And if both a fact, look [

can I mean are hurdle manage. it's just the -- a else it's everything patients infusions

Operator

And AGP. we'll to next move Matthew Vinita with

Unknown Analyst

This is on ]. Matt for Congrats progress Molloy on quarter. Jim for the the [

little able rebate guys million what and on you program-wise? Would or question. a spent be Australia provide from R&D to that X can Just more been $X.X on the color has

David Moss

Sure. Yes.

So we appreciate Matt. the -- yes, yes, question, yes. I

on run over to every up convert where lot can operations of we $X.XX incentive you into an cash there, dollar through Australian rebate. program back has get spend So Australia. you Australia can that actual and our a you And an

than that of higher in next we that's on bit. a that be smaller quite the up you'll U.K., kind bit program work a Mark's number time. And has the expanding will But received a been INKmune front, they've So then to expect again. we amount, program rebate group, in what over because manufacturing be done back back get also in our the also pared you'll U.K., the last -- the year, the going and mainly

it's large -- was XX% say the program, just to in So and about it kind let's the went probably what They historically. XX% of now changed it of it it's was to, it -- almost U.K.

get U.K. able the back money be we'll from to more So

question? help your that answer does -- So

related rebate And got that the all Australia the ADOX to the out of is we of R&D mostly program. ADOX,

Unknown Analyst

Got you spend that? then it. are rebate? just Yes. how there And any Or that's a restrictions cash that on

David Moss

clinical a restrictions. reinvest program. our benefit just can reasons into our forward, one of there doing will just cash a no burn. -- It's we the of part for in rebate, going reduce Australia. And R&D That's it that We it's are really spend

Unknown Analyst

have reduce it the how was coming the like in [indiscernible]? terms any say of you did much going to in burn? quarters Do estimate increase it would You

David Moss

be this would say, probably conservative, like just at be say a Yes, forward, million higher for $X would I varies. going -- year, that, to next conservative, it'll but point. it number use be for I would very I'd than I

Operator

would RJ no appear And it turn time. further to it are questions I back this to does that closing remarks. there like at now for any

Raymond Tesi

Thank operator. you, Yes.

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readouts programs for you have aim by proud regulators, clinical solutions strategies the investors make patients our to is received well potential of positive goal to both provide the why that these new all support. is difficult new your providing so is our Our We and those call. partners, we're problems of been concept clinicians, and listening appreciate and investors today, Thank accomplishments. for to here that to

Operator

today's program. participation. your for conclude you does Thank This

wonderful have and time, a any at disconnect may You afternoon.

INmune Bio (INMB) 31 Oct 242024 Q3 Earnings call transcript