Company: INMB
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001213900-25-104141
Chunk: 14

Company: Inmune Bio, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 by greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated
by jurisdiction. The standard is effective for public companies for fiscal years beginning after December 15, 2024 and for interim periods
for fiscal years beginning after December 15, 2025, with early adoption permitted. The Company is currently 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.

On July 4, 2025, the One Big Beautiful Bill Act
(“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as expensing of U.S. research expenditures
and eligible capital expenditures, the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications
to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The impacts of the
OBBBA are reflected in our results for the quarter ended September 30, 2025, and there was no impact to our income tax expense or effective
income tax rate. 

NOTE 4 – RESEARCH AND DEVELOPMENT
ACTIVITY

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 September 30, 2025 and December 31, 2024, the Company recorded a research and development tax