Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 666

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 666
---
297  
     1,143 
  
    State income tax benefit, net of federal tax effect 
     (320) 
     (222)
  
    Foreign tax differential 
     (482) 
     (241)
  
    Research credits 
     268  
     266 
  
    Other 
     2  
     3 
  
    Return to provision adjustment 
     2,052  
     335 
  
    Change in valuation allowance 
     6,020  
     5,018 
  
    Income tax benefit 
    $-  
    $- 

F-18

The principal components of deferred tax assets
and liabilities consist of the following at December 31, 2024 and 2023, respectively:

    (in thousands) 
    December 31,  2024  
    December 31,  2023 
  
    Deferred tax assets 

    Stock-based compensation 
    $2,142  
    $2,208 
  
    Research and development 
     4,716  
     2,900 
  
    Federal NOL carryforwards 
     8,686  
     6,849 
  
    State NOL carryforwards 
     1,923  
     1,685 
  
    Foreign NOL carryforwards 
     8,221  
     5,965 
  
    Total deferred tax assets 
     25,688  
     19,607 
  
    Less valuation allowance 
     (25,688) 
     (19,607)
  
    Net deferred tax assets 
    $-  
    $- 

We file income tax returns in the United States,
the United Kingdom and Australia. The Company is no longer subject to Internal Revenue Service tax examinations by tax authorities
for years prior to 2021. The United Kingdom and Australia are no longer subject to income tax examination for years prior to
2023 and 2022, respectively.

As of December 31, 2024, the Company has a federal net operating loss
carryforward of approximately $41.4 million, a United Kingdom net operating loss carryforward of $17.4 million and an Australia net operating
loss carryforward of $19.7 million. The federal net operating loss carryforwards for 2017 will begin to expire in the year ending December
31