Company: INTS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001567264-25-000039
Chunk: 47

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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’s board of directors. Under the 2013 Plan, stock options to purchase shares of common stock could be granted to eligible employees, officers, directors and consultants of the Company. The 2013 Plan terminated in August 2023 on the tenth anniversary of the 2013 Plan’s date of adoption by the board. No new awards were made under the 2013 Plan after such termination date, but awards previously granted may extend beyond such date.In 2021, the Company established the 2021 Stock Incentive Plan (the “2021 Plan”), authorizing the granting of equity awards for the issuance of up to 3,000,000 shares of common stock. Upon adoption of the 2021 Plan, no more shares would be issued under the 2013 Plan. Starting on January 1, 2022, the shares authorized under the 2021 Plan shall have an annual increase of the lessor of (a) 3.5% of the aggregate number of shares of common stock outstanding on the final day of the preceding calendar year, or (b) such smaller amount as determined by the Board. On January 1, 2023 and January 1, 2024, an additional 238,700 and 479,828 shares were authorized under the 2021 Plan. On January 1, 2025, an additional 529,300 shares were authorized under the 2021 Plan. As of March 31, 2025, 2,455,011 shares were available for issuance under the 2021 Plan.

8

The Company recorded total stock-based compensation for its outstanding stock options and warrants in its Statements of Operations as follows (in thousands):Three Months Ended March 31,20252024Research and development$160 $566 General and administrative275 589 Total stock-based compensation expense$435 $1,155 Stock optionsThe following table summarizes the range of assumptions used to estimate the fair value of stock options issued using the Black-Scholes-Merton option pricing model:Three Months Ended March 31,20252024Stock pricen/a$5.19Exercise pricen/a$5.19Expected volatilityn/a97.06%Risk free interest ratesn/a4.12%Expected term (years)n/a5 to 6.25The Company did not issue stock options for the three months ended March 31, 2025. For the three months ended March 31, 2024, a dividend