Company: INMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001213900-25-073077
Chunk: 24

Company: Inmune Bio, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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Stock 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.

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NOTE 10 – GOVERNMENT GRANT

The Company has a grant awarded by the National
Institutes of Health for approximately $2.0 million to support a Phase 2 study of XPro in patients with treatment resistant depression.
The Company has decided it will not initiate a treatment resistant depression study using XPro. As of June 30, 2025, the Company has not
received any proceeds pursuant to this grant.

NOTE 11 – LEGAL

Dispute

The Company
has an ongoing dispute with a vendor in which the Company believes that the vendor did not properly provide services for which they have
invoiced the Company. As of June 30, 2025, the Company has outstanding invoices with the vendor which aggregate approximately $1.6 million,
of which the Company has recorded approximately $0.2 million, which is the Company’s estimate of the obligation incurred, and
the remaining $1.4 million has not been recorded by the Company as the Company believes the invoices were sent erroneously. The Company
and the vendor are still attempting to resolve the dispute and legal proceedings have not been threatened.

Litigation

The Company
is subject to claims and suits that arise from time to time in the ordinary course of our business. Although management currently believes
that resolving claims against the Company, individually or in