Company: INMB
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001213900-25-104141
Chunk: 38

Company: Inmune Bio, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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, our
product candidates. The size of our future net losses will depend, in part, on the rate of future growth of our expenses and our ability
to generate revenues, if any.

Our recurring net losses and
negative cash flows from operations raised substantial doubt regarding our ability to continue as a going concern within one year after
the issuance of our unaudited condensed consolidated financial statements for the nine months ended September 30, 2025. Until we can generate
sufficient revenue from the commercialization of our product candidates, we expect to finance our operations through the public or private
sale of equity, debt financings or other capital sources, such as government funding, collaborations, strategic alliances, divestment
of non-core assets, or licensing arrangements with third parties. To date, the Company has relied on equity and debt financing to fund
its operations.

Other Developments

The new U.S. administration
has announced or imposed a series of tariffs on U.S. trading partners. In response, several countries have threatened or imposed retaliatory
measures. At this time, we do not anticipate the tariffs and changes in trade policies in place as of the filing of this Quarterly Report
on Form 10-Q to have a significant adverse effect on our business or operations.

Following recent changes more
broadly within the NIH and FDA, we have not noticed any disruption of communications with the NIH and FDA to date and continue to maintain
productive interactions. To date, there has been no impact to the Company’s operations due to any changes at the NIH or FDA.

27

Research and Development

Research and development expense
consists of expenses incurred while performing research and development activities to discover and develop our product candidates. This
includes conducting preclinical studies and clinical trials, manufacturing development efforts and activities related to regulatory filings
for product candidates. We recognize research and development expenses as they are incurred. Our research and development expense primarily
consist of:

    ●
    clinical trial and regulatory-related costs;

    ●
    expenses incurred under agreements with investigative sites and consultants that conduct our clinical trials;

    ●
    manufacturing and testing costs and related supplies and materials; and

    ●
    employee-related expenses, including salaries, benefits, travel and stock-based compensation.

The following table summarizes
our research and development expenses by product candidate for the periods indicated (in thousands):

    Three Months Ended  
    Nine Months Ended 

    September 30,  
    September 30, 

    202