Company: INMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001213900-25-073077
Chunk: 81

Company: Inmune Bio, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 81
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 expenses due to the trial being completed in 2025, partially
offset by the Company recording $0.9 million less accrued rebate during the six months ended June 30, 2025.

General and Administrative

General and administrative
expenses were approximately $4.6 million and $5.2 million during the six months ended June 30, 2025 and 2024, respectively. The $0.6 million
decrease in general and administrative expenses was mainly due to $0.3 million lower stock-based compensation and $0.3 million lower investor
relations expense.

Impairment of acquired in-process research
and development intangible assets

During the six months ended
June 30, 2025, the Company released the Phase 2 clinical trial results for our Alzheimer’s drug candidate, XPro, which failed to
meet the primary endpoint, though a subgroup showed potential benefits. Due to insufficient resources to fund further trials, the Company
has halted immediate plans to develop XPro for Alzheimer’s or other indications and are instead seeking a partner to continue these
studies. As part of preparing its interim unaudited condensed consolidated financial statements, the Company determined that the intangible
asset’s fair value was likely below its carrying value. Following a quantitative impairment assessment, the Company estimated the
asset’s fair value at $0 as of June 30, 2025, resulting in a recorded impairment of $16.5 million.

32

Other Income, net

During the six months ended
June 30, 2025, the Company recorded $0.3 million of other income due to the Company earning interest income on its cash investments. During
the six months ended June 30, 2024, the Company earned $0.1 million of other income consisting of interest income partially offset by
interest expense.

Liquidity and Capital Resources 

Liquidity
is the ability of a company to generate funds to support its current and future operations, satisfy its obligations and otherwise operate
on an ongoing basis.

We incurred a net loss of
$34.2 million and $20.8 million for the six months ended June 30, 2025 and 2024, respectively. Net cash used in operating activities was
$14.2 million and $15.4 million for the six months ended June 30, 2025 and 2024, respectively. Since inception, we have funded our operations
primarily with proceeds from the sales of our common stock