Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 637

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 637
---
 common stock and warrants to purchase
571,592 shares of common stock for aggregate gross proceeds of approximately $4.8 million (net proceeds of approximately $4.5 million).
The exercise price of the warrants is $9.152, and the term is the earlier of two years from the issuance of the warrants and thirty trading
days following the release of top line data in the Phase 2 Alzheimer’s program, provided that directors and officers of the Company
that are subject to a blackout with respect to trading in the Company’s stock will have an additional 60 days from the termination
of the blackout date to exercise the warrant. Directors and officers that participated in the offering paid a combined offering price
of $8.445 per share and warrant, and other investors paid $8.32 per share and warrant.

Term Loan

During the year ending December
31, 2024, the Company made $10 million of principal payments and paid off its term loan in full. During
February 2025, the Company entered into a letter agreement with its lenders whereby its term loan was terminated.

65

Cash Flows 

The following table provides
information regarding our cash flows for the years ended December 31, 2024 and 2023:

    Year Ended December 31, 

    2024  
    2023 
  
    Net cash used in operating activities 
    $(33,361) 
    $(11,980)
  
    Net cash used in (provided by) financing activities 
     18,211  
     (4,225)
  
    Impact on cash from foreign currency translation 
     224  
     (100)

    Net decrease in cash and cash equivalents 
    $(14,926) 
    $(16,305)

Net Cash Used in Operating Activities

Our cash used in operating
activities was primarily driven by our net loss.

Operating activities used
$33.4 million of cash for the year ended December 31, 2024, primarily resulting from our net loss of $42.1 million, partially offset by
a net cash inflow of $1.0 million for changes in our net operating assets and liabilities, and non-cash stock-based compensation charges
of $7.6 million. The change in our net operating assets and liabilities was primarily due to a decrease in prepaid expenses of $1.2 million,
a decrease in research and development tax rebate receivable of $0.7 million and a decrease in other tax rece