 The company will host an earnings call: Today, August 5 at 4:30 PM ETLA JOLLA, Calif., Aug. 05, 2020 GLOBE NEWSWIRE -- INmune Bio, Inc. NASDAQ: INMB the Company, an immunology company developing treatments that harness the patients innate immune system to fight disease today reported its financial results for the second quarter ended June 30, 2020 and is providing a business update. INmune Bio will hold a conference call today at 4:30 PM Eastern Time. To participate in the call, please dial 415-226-5355 five minutes before the scheduled time. In the second quarter, and year to date, INmune Bio continued to progress forward with both of our clinical platforms, stated RJ Tesi, M.D., Chief Executive Officer of INmune Bio. We announced interim Phase Ib data demonstrating that our Alzheimers Disease candidate, XPro1595, can reduce neuroinflammation. Our progress with XPro1595 supports our overall strategy to create platforms of therapeutics, based on reducing inflammation by targeting the innate immune system to fight disease. We are planning a number of programs employing this approach in NASH, MUC4 expressing HER2 cancer, ALS and complications of cytokine storm caused by COVID-19. With the Natural Killer Priming platform, we anticipate INKmuneTM Phase I in high-risk MDS to start the second half of this year.Q2 2020 and Recent Corporate Highlights DN-TNF Platform Highlights: Announced interim Phase Ib data demonstrating that XPro1595 decreases neuroinflammation in patients with Alzheimers Disease - XPro1595 reduced neuroinflammation by 40.6 in a white matter tract important for learning and memory. Announced combination therapy of Lapatinib with INB03 may be used to overcome resistance to trastuzumab in women with MUC4HER2 breast cancer. This work was presented at the AACR 2020 by Dr. Roxana Schillaci and may form the basis for a Phase II program in patients with MUC4 expressing HER2 cancer. Initiated a clinical program to test targeting soluble TNF QuellorTM, one of the key components of the cytokine storm, using our TNF Inhibitor DN-TNF Platform to prevent complications of COVID-19 infection. Frontiers in Oncology published an invited entitled Tumor Necrosis Factor α Blockade: an Opportunity to Tackle Breast Cancer by Prof. Roxana Schillaci, a leader in the field of TNF in cancer.NK Priming Platform Highlights: Received regulatory clearance from UK MHRA to initiate a Phase I Trial of INKmune in patients with high-risk MDS - study will be the first-in man trial for INKmune a novel therapy to prime the patients own NK cells to attack their cancer. Announced allowance of U.S. Patent covering method for treating cancer by in-vivo priming of natural killer cells. Received notice of allowance in counterpart patent in Australia covering method for treating cancer by in-vivo priming of natural killer cells. Announced publication of a review article: Killers at the crossroads: The use of innate immune cells in adoptive cellular therapy of cancer in the journal Stem Cells Translational Medicine by Prof. Mark Lowdell, Co-Founder and CSO of INmune Bio, Inc. The article reviews the potential of harnessing cells of the innate immune system to treat cancer.Financial Highlights: Closed a 25 million gross proceeds public offering of common stock, including full exercise of Underwriters Over-Allotment Option resulting in net proceeds of approximately 23.1 million after deducting underwriting discounts and commissions and other offering expenses payable by the Company.Upcoming Milestones: Report additional data on Phase 1b XPro1595 in Alzheimers Disease in 2H 2020. Enroll first patient in Phase II QuellorTM program, targeting COVID-19 patients with immune mediated complications from COVID-19. Enroll first patient in Phase I INKmuneTM in High Risk MDS cancer, expected 2H20. Enroll first patient in Phase I INKmuneTM in Ovarian cancer, expected mid-2021.Financial Results for the Second Quarter Ended June 30, 2020:Net loss attributable to common stockholders for the second quarter ended June 30, 2020 was 2.1 million, compared to 0.4 million for the quarter ended June 30, 2019.Research and development expense totaled approximately 0.9 million for the second quarter ended June 30, 2020, compared to approximately 0.6 million during the second quarter ended June 30, 2019.General and administrative expense was approximately 1.2 million for the quarter ended June 30, 2020, compared to approximately 1.3 million during the second quarter ended June 30, 2019.As of June 30, 2020, the Company had cash and cash equivalents of approximately 4.8 million with no debt. Subsequent to the quarter end, INmune Bio closed a 25 million gross proceeds public offering of common stock resulting in net proceeds of approximately 23.1 million after deducting underwriting discounts and commissions and other offering expenses payable by the Company.As of August 5, 2020, the Company had approximately 13.4 million common shares outstanding.Earnings Call InformationTo participate in this event, dial approximately 5 to 10 minutes before the beginning of the call.Date: August 5, 2020 Time: 4:30 PM Eastern Time Participant Dial-in: 1-415-226-5355About INmune Bio, Inc.INmune Bio, Inc. is a publicly traded NASDAQ: INMB, clinical-stage biotechnology company focused on developing treatments that target the innate immune system to fight disease. INmune Bio has two product platforms. The DN-TNF product platform utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver of innate immune dysfunction and mechanistic target of many diseases. DN-TNF is currently being developed for COVID-19 complications QuellorTM, cancer INB03TM, Alzheimers XPro595, and NASH LIVNateTM. The Natural Killer Cell Priming Platform includes INKmuneTM aimed at priming the patients NK cells to eliminate minimal residual disease in patients with cancer. INmune Bios product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic malignancies, solid tumors and chronic inflammation. To learn more, please visit about Forward-Looking StatementsClinical trials are in early stages and there is no assurance that any specific outcome will be achieved. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. INB03TM, QuellorTM, XPro1595, LIVNateTM, and INKmuneTM are still in clinical trials and have not been approved and there cannot be any assurance that they will be approved or that any specific results will be achieved. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Companys ability to produce more drug for clinical trials; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Companys business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Companys filings with the Securities and Exchange Commission, including the Companys Annual Report on Form 10-K, the Companys Quarterly Reports on Form 10-Q and the Companys Current Reports on Form 8-K. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.INmune Bio Contact: David Moss, CFO 858 964-3720 Contact: James Carbonara 646 755-7412 following table summarizes our results of operations for the periods indicated:INMUNE BIO, INC. CONSOLIDATED BALANCE SHEETS Unaudited June 30, 2020 December 31, 2019 ASSETS CURRENT ASSETS Cash and cash equivalents4,816,561 6,995,525 Research and development tax credit receivable 1,044,843 568,139 Other tax receivable 155,000 77,225 Prepaid expenses 342,492 97,623 Prepaid expenses related party - 26,266 TOTAL CURRENT ASSETS 6,358,896 7,764,778 Operating lease right of use asset related party 174,649 191,543 Acquired in-process research and development intangible assets 16,514,000 16,514,000 TOTAL ASSETS23,047,545 24,470,321 LIABILITIES AND STOCKHOLDERS EQUITY CURRENT LIABILITIES Accounts payable and accrued liabilities624,893 401,989 Accounts payable and accrued liabilities related parties 223,562 290,102 Deferred liabilities 361,842 - Operating lease, current liability related party 6,950 8,288 TOTAL CURRENT LIABILITIES 1,217,247 700,379 Long-term operating lease liability related party 145,430 160,164 TOTAL LIABILITIES 1,362,677 860,543 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS EQUITY Preferred stock, 0. 