Company: INMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041072
Chunk: 17

Company: Inmune Bio, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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plifyBio

 At March
31, 2025 and December 31, 2024, the Company recorded a payable to AmplifyBio of $26,000 and $0, respectively, for medical research performed
on behalf of the Company. During the three months ended March 31, 2025 and 2024, the Company paid AmplifyBio $41,000 and $142,000,
respectively. The CEO of AmplifyBio is on the Board of Directors of the Company. 

NOTE 8 – DEBT

During 2021,
the Company entered into a Loan and Security Agreement (the “Term Loan”) with Silicon Valley Bank and SVB Innovation Credit
Fund VIII, L.P., together (the “Lenders”) in which the Company borrowed $15 million. The Term Loan was secured by the Company’s
assets. During December 2024, the Company paid off the Term Loan in full. During February 2025, the Company entered into a letter agreement
with the Lenders whereby the Term Loan was terminated.

For the
three months ended March 31, 2025 and 2024, the Company recognized interest expense of $0 and $357,000, respectively, related to the Term
Loan. 

NOTE 9 – STOCKHOLDERS’ EQUITY

Common Stock – At the Market Offering

During August 2024, the Company entered into an
amended and restated at-the-market sales agreement with RBC Capital Markets LLC and BTIG (together, the “Sales Agents”) relating
to the offer and sale of shares of our common stock with an aggregate offering price of up to $75.0 million. The Company is required
to pay the Sales Agents a commission of 3% of the gross proceeds from the sale of shares. During
the three months ended March 31, 2025, the Company issued and sold 649,860 shares of common stock at an average price of $8.37 per
share under the ATM program. The aggregate net proceeds were approximately $5.3 million after commission expenses. At March 31, 2025,
the Company had $69.4 million of common stock available under the amended and restated at-the-market agreement.

Stock options

The following
table summarizes stock option activity during the three months ended March 31, 2025:

  (in thousands, except share and per share amounts)  Number of