Company: INTS
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001567264-25-000103
Chunk: 64

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 the Company signed a 5.5-year lease for approximately 2,700 square feet of office space in Shelton, Connecticut, (the “Shelton Lease”). The Company has a one-time option to cancel the Shelton Lease after 36 months if it provides written notice before the end of month 30. A payment of approximately $47,000 would be due at the end of month 36 if the Company exercises this option. This option is not reasonably certain to occur.

11

Rent expense for each of the three and nine months ended September 30, 2025 and 2024 was approximately $9,000 and $26,000, respectively. Cash paid for operating leases for the three and nine months ended September 30, 2025 was approximately $17,000 and $50,000, respectively.  The Company paid $17,000 for operating leases for both the three and nine months ended September 30, 2024. The following table summarizes the balance sheet classification of the operating lease asset and related lease liabilities as of September 30, 2025 and December 31, 2024 (in thousands):September 30,2025December 31,2024Right-of-use asset, net$103 $122 Lease liability, current portion31 28 Lease liability, net of current portion87 110 $118 $138 The following variables were used to determine the right-of-use asset and the operating lease liabilities at September 30, 2025 and 2024:September 30,2025September 30,2024Weighted average remaining lease term3.4 years4.4 yearsWeighted average operating lease discount rate6.4 %6.4 %Future minimum lease payments under the lease agreement as of September 30, 2025 were as follows (in thousands):Year ended2025 (remainder of year)$9 202637 202739 202839 20297 Total lease payments131 Less: Amounts representing interest(13)Present value of lease liabilities$118 

Note 10.    Other Uncertainties

The Company holds patents in Russia and Israel, both of which are currently involved in military action. The outcomes of these military actions could impact our ability to maintain and protect these patents.

Note 11.    Related Parties 

In October 2023, the Company issued 80,000 warrants for consulting services to be rendered by two shareholders, which vested