SCHEDULE: CVI Investments and Heights Capital Management Disclose 5.5% Stake in INmune Bio Inc.
Beneficial Ownership Report
CVI Investments, Inc. and its investment manager, Heights Capital Management, Inc., have disclosed a combined beneficial ownership of 5.5% of INmune Bio Inc.'s common stock.
Summary
- CVI Investments, Inc. and Heights Capital Management, Inc. (collectively, "Reporting Persons") have filed a Schedule 13G regarding their beneficial ownership in INmune Bio Inc.
- The Reporting Persons collectively beneficially own 1,500,000 shares of INmune Bio Inc. common stock.
- This ownership represents 5.5% of the total outstanding shares of INmune Bio Inc. common stock, based on 27,240,105 shares outstanding as of June 30, 2025.
- Heights Capital Management, Inc. acts as the investment manager for CVI Investments, Inc. and exercises shared voting and dispositive power over these shares.
- The shares were not acquired for the purpose of changing or influencing control of INmune Bio Inc.
Sentiment
Score: 6
Explanation: The disclosure of a 5.5% beneficial ownership stake by CVI Investments, Inc. and Heights Capital Management, Inc. in INmune Bio Inc. is a moderately positive signal, indicating institutional interest and confidence in the company, albeit as a passive investment.
Positives
- A significant stake of 5.5% in INmune Bio Inc. has been disclosed by CVI Investments, Inc. and Heights Capital Management, Inc., potentially signaling confidence from institutional investors.
Negatives
- No negative information is disclosed in this beneficial ownership report.
Risks
- No specific risks related to INmune Bio Inc. are detailed in this beneficial ownership filing.
Future Outlook
No forward-looking statements or guidance regarding INmune Bio Inc.'s future performance or operations are provided in this beneficial ownership report.
Management Comments
- The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
Industry Context
This filing indicates a significant passive investment by a fund manager (Heights Capital Management) on behalf of an investment vehicle (CVI Investments) in a biotechnology company, INmune Bio Inc. Such investments are common in the biotech sector, where specialized funds often take positions in companies with promising pipelines or technologies.
Comparison to Industry Standards
- This document does not provide sufficient information to compare INmune Bio Inc.'s results or performance to global benchmarks or specific comparable companies or projects. It solely reports a beneficial ownership stake.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
Legal Proceedings
- No legal proceedings or regulatory matters are disclosed in this document.
Related Party Transactions
- A Limited Power of Attorney dated July 16, 2015, exists between CVI Investments, Inc. and Heights Capital Management, Inc., authorizing Heights Capital Management, Inc. to enter into transactions and take necessary actions on behalf of CVI Investments, Inc. This agreement is attached as Exhibit I.
- A Joint Filing Agreement dated July 2, 2025, confirms that CVI Investments, Inc. and Heights Capital Management, Inc. are filing the Schedule 13G jointly.
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake may be viewed positively by existing shareholders, potentially signaling validation of the company's prospects and attracting further investor interest.
- Management: The presence of a significant institutional investor may lead to increased scrutiny or engagement, though the filing states the stake is not for influencing control.
Next Steps
- No specific future actions, events, or milestones are mentioned in this beneficial ownership report.
Key Dates
| Date | Description |
|---|---|
| 2015-07-16 | Date of Limited Power of Attorney agreement between CVI Investments, Inc. and Heights Capital Management, Inc. |
| 2024-05-01 | Date of Prospectus (Registration No. 333-279036) referenced for outstanding shares. |
| 2025-06-27 | Date of event which required the filing of this Schedule 13G. |
| 2025-06-30 | Date of Prospectus Supplement filing, indicating 27,240,105 shares outstanding as of completion of offering. |
| 2025-07-02 | Date of signing of the Schedule 13G and Joint Filing Agreement. |
Keywords
INmune Bio Inc., CVI Investments, Heights Capital Management, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investment, Equity Stake, SEC Filing
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