Company: INMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001213900-25-073077
Chunk: 23

Company: Inmune Bio, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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15

Warrants

The Company issued warrants to the Company’s
lenders upon obtaining a loan in June 2021. The warrants have a 10-year term and an exercise price of $14.05. At June 30, 2025, respectively, 45,386 of
these warrants are outstanding and the intrinsic value of these warrants is $0.

During April
2024, the Company issued 1,557,592 warrants to investors in connection with the sale of common stock. At June 30, 2025, 1,557,592 of
these warrants are outstanding and are exercisable for cash at a weighted average price of $9.59 per share. The intrinsic value of
these warrants was $0 as of June 30, 2025.

During September
2024, the Company issued 2,341,260 warrants to investors in connection with the sale of common stock. At June 30, 2025, 2,341,160 of
these warrants are outstanding and are exercisable for cash at a weighted average price of $6.40 per share. The intrinsic value of
these warrants was $0 as of June 30, 2025.

Stock-based Compensation by Class of Expense

The following summarizes the components of stock-based
compensation expense in the consolidated statements of operations for the six months ended June 30, 2025 and 2024 respectively:

    (in thousands) 
    Three Months Ended June 30, 2025  
    Three Months Ended June 30, 2024  
    Six Months Ended June 30, 2025  
    Six Months Ended June 30, 2024 
  
    Research and development 
    $627  
    $996  
    $1,457  
    $1,698 
  
    General and administrative 
     907  
     1,354  
     2,153  
     2,431 
  
    Total 
    $1,534  
    $2,350  
    $3,610  
    $4,129 

Shareholder Rights Agreement

On December 30, 2020, the Board of Directors (the
“Board”) of the Company approved and adopted a Rights Agreement, dated as of December 30, 2020, by and between the Company
and V