Why INmune Bio Stock Soared Then Sank Today
Shares of INmune Bio (NASDAQ: INMB) soared as much as 19.4% in early trading on Thursday. However, the stock quickly gave up those gains and then some. INmune's shares were sinking 17% as of 3:39 p.m. EST.
The big jump came after the biotech announced encouraging results from a phase 1b study evaluating XPro1595 in treating Alzheimer's disease. However, the stock promptly fell throughout the morning -- probably due in part to profit-taking. Some investors were likely wary about banking too much on success for XPro1595 in light of the numerous Alzheimer's disease candidates that once seemed promising but ultimately flopped.
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Source Fool.com
