Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 647

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 647
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. The CORDStrom product platform is a pooled, human umbilical cord mesenchymal stem
cell product currently being developed to treat recessive dystrophic epidermolysis bullosa (“RDEB”). The Natural Killer Cell
Priming Platform includes INKmune aimed at priming the patient’s NK cells to eliminate minimal residual disease in patients with
cancer. INmune Bio’s product platforms utilize a precision medicine approach for the treatment of a wide variety of hematologic
malignancies, solid tumors and chronic inflammation.

Basis of Presentation and Principles of
Consolidation

The accompanying consolidated financial statements
of the Company have been prepared in accordance with Generally Accepted Accounting Principles (“US GAAP”) in the United States
of America and the rules of the Securities and Exchange Commission (“SEC”).

The consolidated financial statements herein have been prepared in accordance
with US GAAP and include the accounts of INmune Bio, its wholly-owned United Kingdom subsidiary, and its wholly-owned Australia subsidiary
(collectively, the “Company”). All significant intercompany accounts and transactions have been eliminated.

NOTE 2 – GOING CONCERN

These consolidated financial statements have been
prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization
of assets and the satisfaction of liabilities in the normal course of business.

The Company has incurred significant losses and
negative cash flows from operations since inception and expects to incur additional losses until such time that it can generate significant
revenue from the commercialization of its product candidates. The Company had net losses of approximately $42.1 million and $30.0 million
and negative cash flows from operating activities of approximately $33.4 million and $12.0 million for the years ended December 31, 2024
and 2023, respectively, and an accumulated deficit of approximately $163.1 million and $121.0 million as of December 31, 2024 and 2023,
respectively. Given the Company’s projected operating requirements and its existing cash and cash equivalents, the Company is projecting
insufficient liquidity to sustain its operations through one year following the date that the financial statements are issued. These conditions
and events raise substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the
issuance of these financial statements.

In response to these conditions, management is
currently evaluating different strategies to obtain the required funding of future operations. Financing strategies may include