By Chris Wack


INmune Bio Inc. shares bounced back from their 52-week low, rising 9% to $5.95 a day after the company said the Food and Drug Administration requested additional information for chemistry manufacturing and controls of the newly manufactured XPro1595.

The stock hit a 52-week low of $4.63 earlier in the session, after closing Tuesday's session down 25%

The company said that as part of the communication, the agency placed its investigational new drug application to initiate its Phase 2 clinical trial of XPro in patients with Alzheimer's disease in the U.S. on clinical hold.

The FDA indicated it will provide an official clinical hold letter to INmune in about 30 days, the company said.

INmune said it plans to provide additional updates pending discussion with the FDA, and its phase 2 trial of XPro remains open in Australia and continues to enroll patients.

B. Riley Securities cut its recommendation for INmune shares to neutral from buy, while dropping its price target to $7 from $14 a share. BTIG cut its price target to $14 from $31 a share, while maintaining its buy stance on the stock.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

05-25-22 1258ET