Company: INTS
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001567264-25-000103
Chunk: 34

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 warrant represents the period the warrants are expected to be outstanding.The following table summarizes the activity for warrants for the nine months ended September 30, 2025:WarrantsWeighted-Average Exercise PriceWeighted Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)Outstanding at December 31, 20242,041,563 $4.32 4.7$— Issued6,650,478 $0.82 Exercised— $— Forfeited and cancelled(98,750)$4.15 Outstanding at September 30, 20258,593,291 $1.62 3.2$— Exercisable at September 30, 20258,568,541 $1.60 3.2$— All warrants outstanding are exercisable for purchase of common stock. As of September 30, 2025, total unrecognized compensation cost related to warrants was approximately $0.1 million and is expected to be recognized over the remaining weighted average service period of 2.0 years.Restricted Stock

In September 2024, the Company issued 11,750 restricted shares of its common stock (the “Restricted Stock”) to a consultant as compensation for its services to the Company through the end October 2024 valued at $51,000. The Restricted Stock included a restricted legend for a period of at least six months from the date of issuance.  The six-month period has elapsed, and the Restricted Stock is no longer restricted.  

Note 9.    Leases

In July 2023, the Company signed a 5.5-year lease for approximately 2,700 square feet of office space in Shelton, Connecticut, (the “Shelton Lease”). The Company has a one-time option to cancel the Shelton Lease after 36 months if it provides written notice before the end of month 30. A payment of approximately $47,000 would be due at the end of month 36 if the Company exercises this option. This option is not reasonably certain to occur.

11

Rent expense for each of the three and nine months ended September 30, 2025 and 2024 was approximately $9,000 and $26,000, respectively. Cash paid for operating leases for the three and nine months ended September 30, 2025 was approximately $17,000 and $50,000, respectively.  The Company paid $17