Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 495

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 495
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 and capabilities to further expand the potential of our technologies, product candidates and revenue
streams.

Xencor

In October 2017, we licensed
INB03 (also known as XPro) from Xencor. This exclusive, global, unrestricted license came with considerable know-how, intellectual property,
pre-clinical data, regulatory documentation and product stocks. Currently, we are focused on using this asset in a neurological indication.
In the future, we may develop the asset in a wide variety of therapeutic areas, with a variety of delivery techniques by ourselves or
in conjunction with partners.

63

Results of Operations

Comparison of the Years Ended December 31,
2024 and December 31, 2023

    Year Ended 
  
    (in thousands) 
    December 31,  2024  
    December 31,  2023  
    Change 
  
    Revenues 
    $14  
    $155  
    $(141)

    General and Administrative 
     9,483  
     9,623  
     (140)
  
    Research and Development 
     33,166  
     20,273  
     12,893 
  
    Other (Income) Expense, net 
     (553) 
     267  
     (820)
  
    Net loss 
    $42,082  
    $30,008  
    $12,074 

Revenues

During 2024 and 2023, the
Company sold MSC’s to one customer in the United Kingdom and recognized $14,000 and $155,000 of revenues, respectively.

General and Administrative

General and administrative
expenses were $9.5 million for the year ended December 31, 2024, compared to $9.6 million for the year ended December 31, 2023. The decrease
in general and administrative expenses is due to lower travel expense.

Research and Development

Research and development expenses
increased to $33.2 million for the year ended December 31, 2024 from $20.3 million for the year ended December 31, 2023. The increase
in research and development expenses during the year ended December 31, 2024 compared to 2023 is mainly due to the Company incurring $9.9
million higher costs with our Alzheimer’s clinical trial, $1.3 million of higher costs in connection with our INK