The balance sheet reflects a vulnerable capital structure, evidenced by an accumulated deficit of $214.4 million and the complete removal of $16.5 million in goodwill from the asset base as of 2025Q2.
| Total Current Assets | 22.82M | 29.89M | 22.66M | 39.94M | 64.67M | 82.61M | 23.99M | 7.76M | 849.34K | 1.9M | 451.61K | 11.88K |
| Cash & Short-Term Investments | 21.36M | 24.75M | 20.92M | 35.85M | 52.15M | 74.81M | 21.97M | 7M | 186.2K | 1.37M | 141.66K | 11.88K |
| Cash Only | 21.36M | 24.75M | 20.92M | 35.85M | 52.15M | 74.81M | 21.97M | 7M | 186.2K | 1.37M | 141.66K | 11.88K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 770K | 4.54M | 1.41M | 2.44M | 8.46M | 5.5M | 0 | 645.36K | 647.59K | 327.61K | 0 | 0 |
| Days Sales Outstanding | - | 33.15K | 36.73K | 5.75K | 8.26K | 11.1K | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 34K | -5.5M | 0 | -769.13M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 694K | 595K | 331K | 0 | -34K | 5.5M | 1.8M | 769.13M | 0 | 0 | 306.95K | 0 |
| Total Non-Current Assets | 3M | 2.46M | 16.9M | 17.06M | 17.12M | 17.34M | 16.67M | 16.71M | 16.51M | 16.51M | 0 | 0 |
| Property, Plant & Equipment | 2.31M | 914K | 307K | 414K | 507K | 726K | 156K | 191.54K | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | 0.00x | 0.05x | 0.05x | 0.37x | 0.74x | 0.25x | 0.07x | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 16.51M | 16.51M | 16.51M | 16.51M | 16.51M | 16.51M | 16.51M | 16.51M | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 683K | 1.55M | 79K | 131K | 99K | 99K | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 25.82M | 32.35M | 39.56M | 57M | 81.8M | 99.94M | 40.66M | 24.47M | 17.36M | 18.41M | 451.61K | 11.88K |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | - | - | - | - | - |
| Asset Growth % | -114.88% | -18.23% | -30.59% | -30.31% | -18.16% | 145.83% | 66.14% | 40.93% | -5.7% | 3977.32% | 3700.77% | - |
| Total Current Liabilities | 5.39M | 8.42M | 7.22M | 18.46M | 10.92M | 4.36M | 1.78M | 700.38K | 823.77K | 309.72K | 600.81K | 30.75K |
| Accounts Payable | 4.68M | 7.79M | 6.56M | 7.9M | 5.21M | 3.8M | 1.52M | 401.99K | 553.22K | 136.4K | 220.81K | 750 |
| Days Payables Outstanding | 23.01K | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 704K | 0 | 0 | 9.92M | 5M | 72K | 0 | 0 | 0 | 0 | 350K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 616K | 474K | 0 | -298.39K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 517K | 524K | 9K | -62K | 190K | 298.39K | 0 | 0 | 30K | 30K |
| Current Ratio | 4.24x | 3.55x | 3.14x | 2.16x | 5.92x | 18.95x | 13.51x | 11.09x | 1.03x | 6.13x | 0.75x | 0.39x |
| Quick Ratio | 4.24x | 3.55x | 3.14x | 2.16x | 5.92x | 20.21x | 13.51x | 1109.25x | 1.03x | 6.13x | 0.75x | 0.39x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 806K | 411K | 244K | 397K | 10.77M | 15.36M | 126K | 160.16K | 0 | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 9.7M | 14.46M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 2.07M | 411K | 244K | 397K | 526K | 704K | 126K | 160.16K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 550K | 199K | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 6.19M | 8.83M | 7.46M | 18.86M | 21.69M | 19.72M | 1.9M | 860.54K | 823.77K | 309.72K | 600.81K | 30.75K |
| Total Debt | 1.51M | 1.03M | 384K | 10.44M | 15.31M | 15.23M | 160K | 168.45K | 0 | 0 | 350K | 0 |
| Net Debt | -19.85M | -23.72M | -20.54M | -25.41M | -36.84M | -59.58M | -21.81M | -6.83M | -186.2K | -1.37M | 208.34K | -11.88K |
| Debt / Equity | 0.08x | 0.04x | 0.01x | 0.27x | 0.25x | 0.19x | 0.00x | 0.01x | - | - | - | - |
| Debt / EBITDA | -0.06x | - | - | - | - | - | - | - | - | - | 712.83x | - |
| Net Debt / EBITDA | 0.74x | - | - | - | - | - | - | - | - | -2855.65x | 424.32x | -0.08x |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 19.62M | 23.52M | 32.1M | 38.14M | 60.1M | 80.22M | 38.75M | 23.61M | 16.54M | 18.1M | -149.2K | -18.87K |
| Equity Growth % | -117.11% | -26.71% | -15.84% | -36.55% | -25.08% | 107.01% | 64.14% | 42.75% | -8.64% | 12233.64% | -690.77% | - |
| Book Value per Share | 0.74 | 0.88 | 1.61 | 2.12 | 3.35 | 4.97 | 3.23 | 2.30 | 1.47 | 1.61 | -0.03 | -0.00 |
| Total Shareholders' Equity | 19.62M | 23.52M | 32.1M | 38.14M | 60.1M | 80.22M | 38.75M | 23.61M | 16.54M | 18.1M | -149.2K | -18.87K |
| Common Stock | 27K | 27K | 22K | 817K | 18K | 18K | 13K | 10.77K | 8.72K | 8.32K | 5.07K | 5K |
| Retained Earnings | -214.44M | -209.04M | -163.1M | -121.02M | -91.01M | -63.72M | -33.38M | -21.28M | -13.6M | -1.16M | -326.36K | -48.87K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -727K | -737K | -575K | -799K | -699K | 1K | 11K | -8.52K | 6.53K | 32.04K | 47.16K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial funding shortfall
As reported in recent financial statements, INMB's total assets have contracted from $57.0 million in 2023Q4 to $25.8 million by 2026Q1, signaling a steady depletion of the resource base required to sustain the company's ongoing clinical development programs in neuroinflammation and oncology.
The consistent decline in total assets reflects the company's reliance on cash reserves to fund high-burn R&D activities without offsetting capital inflows. This trajectory suggests that the company is approaching a critical juncture where the current asset base may no longer support the scale of its multi-platform clinical ambitions.
Based on the latest quarterly data, INMB maintains a cash position of $21.4 million, which, when viewed against the backdrop of persistent operating losses, suggests a narrowing liquidity buffer that warrants close monitoring by investors concerned about the company's ability to fund upcoming clinical milestones.
While the current ratio of 4.24 appears superficially healthy, it is heavily skewed by the composition of current assets being almost entirely cash. The lack of revenue-generating activities means this liquidity is strictly finite, leaving the company vulnerable to any unexpected delays in trial enrollment or regulatory feedback.
According to historical balance sheet figures, the company's retained earnings have deteriorated to a deficit of $214.4 million as of 2026Q1, illustrating the significant capital consumption inherent in the company's pursuit of its proprietary DN-TNF platform and other clinical-stage assets.
The persistent growth of the accumulated deficit highlights the long-term economic cost of the company's R&D-heavy business model. Investors should interpret this trend as a reflection of the substantial equity dilution that has historically been required to keep the company operational in the absence of commercial revenue.
As indicated by the sudden disappearance of $16.5 million in goodwill from the balance sheet between 2025Q1 and 2025Q2, the company's asset valuation has been subject to significant accounting adjustments that may obscure the underlying economic value of its acquired intellectual property.
The removal of this intangible asset suggests a potential reassessment of the carrying value of previous acquisitions, which may imply that the market's perception of the company's IP portfolio is more volatile than headline figures suggest. This accounting shift warrants further investigation into the durability of the company's remaining intangible assets.
Quick answers to the most common questions about buying INMB stock.
As of 2025, INmune Bio, Inc. (INMB) had total assets of $32.4M including $29.9M in current assets.
INmune Bio, Inc. (INMB) carries total debt of $1.0M, offset by $24.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
INmune Bio, Inc. (INMB) has total shareholders' equity (book value) of $23.5M ($0.88 book value per share). Book value represents the net worth of the company belonging to common stock holders.
INmune Bio, Inc. (INMB) reported a current ratio of 3.55x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.