Company: INMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041072
Chunk: 19

Company: Inmune Bio, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 of
these warrants are outstanding and are exercisable for cash at a weighted average price of $6.40 per share. The intrinsic value of
these warrants was $3,301,036 as of March 31, 2025.

Stock-based Compensation by Class of Expense

The following summarizes the components of stock-based
compensation expense in the consolidated statements of operations for the three months ended March 31, 2025 and 2024 respectively:

    (in thousands) 
    Three Months Ended March 31, 2025  
    Three Months Ended March 31, 2024 
  
    Research and development 
    $830  
    $702 
  
    General and administrative 
     1,246  
     1,077 
  
    Total 
    $2,076  
    $1,779 

Shareholder Rights Agreement

On December 30, 2020, the Board of Directors (the
“Board”) of the Company approved and adopted a Rights Agreement, dated as of December 30, 2020, by and between the Company
and VStock Transfer, LLC, as rights agent, pursuant to which the Board declared a dividend of one preferred share purchase right (each,
a “Right”) for each outstanding share of the Company’s common stock held by stockholders as of the close of business
on January 11, 2021. When exercisable, each right initially would represent the right to purchase from the Company one one-thousandth
of a share of a newly designated series of preferred stock, Series A Junior Participating Preferred Stock, par value $0.001 per share,
of the Company, at an exercise price of $300.00 per one one-thousandth of a Series A Junior Participating Preferred Share, subject
to adjustment. Subject to various exceptions, the Rights become exercisable in the event any person (excluding certain exempted or grandfathered
persons) becomes the beneficial owner of twenty percent or more of the Company’s common stock without the approval of the Board.
The Rights Agreement was amended in 2021, 2022, 2023 and 2024 to extend the expiration date and shall expire on December 30, 2025.

NOTE 10 – COLLABORATIVE AGREEMENTS

The Company has a grant awarded by the National
Institutes of Health for approximately $2.0 million which will support a Phase 2 study of X