Shares of INmune Bio (NASDAQ:INMB) are down 22% in Tuesday morning trading following the company's announcement after Monday's closing bell that the U.S. FDA has placed on hold starting a phase 2 trial Alzheimer's disease candidate XPro1595.
The FDA also requested additional details about XPro1595's chemistry manufacturing and controls.
B Riley analyst Mayank Mamtani responded to the development by downgrading INmune (INMB) to neutral from buy and halving the price target to $7 (~4% downside based on Monday's close)
Mamtani noted that there is "limited visibility to the required corrective measures and magnitude of potential delay."
While maintaining a buy rating, BTIG cut its price target to $14 from $31 (~93% upside).
In April, Seeking Alpha contributor Terry Chrisomalis called INmune a "great speculative biotech play."
Shares of INmune Bio (NASDAQ:INMB) are down 22% in Tuesday morning trading following the company's announcement after Monday's closing bell that the U.S. FDA has placed on hold starting a phase 2 trial Alzheimer's disease candidate XPro1595.
The FDA also requested additional details about XPro1595's chemistry manufacturing and controls.
B Riley analyst Mayank Mamtani responded to the development by downgrading INmune (INMB) to neutral from buy and halving the price target to $7 (~4% downside based on Monday's close)
Mamtani noted that there is "limited visibility to the required corrective measures and magnitude of potential delay."
While maintaining a buy rating, BTIG cut its price target to $14 from $31 (~93% upside).
In April, Seeking Alpha contributor Terry Chrisomalis called INmune a "great speculative biotech play."