Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 569

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 569
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 in research and development tax rebate receivable of $0.7 million and a decrease in other tax receivable of $0.3 million, partially
offset by a decrease of $1.4 in accounts payable and accrued liabilities.

Operating activities used
$12.0 million of cash for the year ended December 31, 2023, primarily resulting from our net loss of $30.0 million, partially offset by
a net cash inflow of $10.4 million for changes in our net operating assets and liabilities, and non-cash stock-based compensation charges
of $7.4 million. The change in our net operating assets and liabilities was primarily due to a decrease in research and development tax
credit receivable of $6.2 million, a decrease in prepaid expenses and other current assets of $2.5 million and an increase in accounts
payable and accrued liabilities of $2.7 million, partially offset by a decrease in accrued liability – long term of $0.6 million.

Net Cash Provided by Financing Activities

During
the years ended December 31, 2024 and 2023, the Company paid off $10.0 million and $5.0 million, respectively, of its debt.

During
the year ended December 31, 2024, the Company sold 247,126 shares of its common stock for net proceeds of $2.4 million under the Company’s
ATM program.

During
the year ended December 31, 2023, the Company sold 75,697 shares of its common stock for net proceeds of $0.8 million under the Company’s
ATM program.

During September 2024, the
Company entered into securities purchase agreements with investors whereby the Company sold 2,341,260 shares of the Company’s common
stock and warrants to purchase an additional 2,341,260 shares of the Company’s common stock exercisable six months from the issuance
date in a registered direct offering in exchange for gross proceeds of $13.0 million (net proceeds of approximately $12.0 million). Directors and
officers that participated in the offering paid a combined offering price of $6.50 per share and warrant, and other investors paid $5.50
per share and warrant. The exercise price of the warrants is $6.40, and are exercisable beginning on March 16, 2025, and will terminate
on March 16, 2030 unless accelerated pursuant to the