Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 377

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 377
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 evaluating the impact that the adoption of ASU 2023-09 may have on its consolidated financial statements. 

In November 2024, the FASB issued ASU 2024-03,
Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income
Statement Expenses (“ASU 2024-03”). ASU 2024-03 requires additional disclosure of specific types of expenses included
in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. ASU 2024-03 is effective
for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted.
ASU 2024-03 may be applied prospectively with the option for retrospective application for all prior periods presented. The Company is
currently evaluating the impact of adopting this guidance on the Company’s current financial position, results of operations or financial
statement disclosures.

F-10

Subsequent Events

The Company has evaluated all transactions through
the financial statement issuance date for subsequent disclosure consideration.

NOTE 4 – RESEARCH AND DEVELOPMENT
ACTIVITY

According to UK tax law, the Company is allowed
an R&D tax credit that reduces a company’s tax bill in the UK for expenses incurred in R&D subject to certain requirements.
The Company’s UK subsidiary submits R&D tax credit requests annually for research and development expenses incurred. At December
31, 2024 and 2023, the Company had a research and development tax credit receivable of $0 for R&D expenses incurred in the UK. During
the years ended December 31, 2024 and 2023, the Company received $0 and $2,710,000 of R&D tax credit reimbursements, respectively,
from the UK.

According to AUS tax law, the Company is allowed
an R&D tax credit that reduces a company’s tax bill in AUS for expenses incurred in R&D subject to certain requirements.
The Company’s Australian subsidiary submits R&D tax credit requests annually for research and development expenses incurred.
At December 31, 2024 and 2023, the Company had a research and development tax credit receivable of $1,181,000 and $1,905,000, respectively,
for R&D expenses incurred in Australia. During the years ended December 31, 2024 and 2023, the Company received $