** Shares of drug developer INmune Bio INMB.O fall 6.49% to $2.16 in premarket trading
** Scotiabank downgrades stock to 'sector underperform' from 'sector outperform'
** Slashes PT to $0.60 from $23; an 89% downside to the stock's last close at $5.33
** Brokerage cites failure of lead drug XPro, which targets a protein linked to inflammation, to show any health improvements in a study on patients with Alzheimer's disease
** On Monday, co said the experimental drug failed to improve cognitive function in early-stage patients during a mid-stage trial
** Co plans to file for FDA breakthrough therapy designation and schedule an End-of-Phase 2 meeting with the health regulator in Q4 2025
** Brokerage also added that INmune has a very low chance of getting FDA approval for its drug CORDStrom to treat recessive dystrophic epidermolysis bullosa (RDEB) a rare skin disease
** Average rating of 5 analysts is "buy"; median PT is $20.5 — data compiled by LSEG
** As of last close, stock down ~50.53% YTD
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.