Company: INTS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001567264-25-000039
Chunk: 59

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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ing & Other17 66 (49)Stock-based compensation160 566 (406)Total research and development expenses$2,189 $2,815 $(626)

Three Months Ended March 31,20252024ChangeGeneral and administrative expenses:Salaries and benefits related costs$230 $324 $(94)Legal fees167 257 (90)Audit fees77 115 (38)Consulting196 173 23 Insurance157 286 (129)Other103 184 (81)Stock-based compensation275 589 (314)Total general and administrative expenses$1,205 $1,928 $(723)

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Research and development expenses during the three months ended March 31, 2025 decreased $0.6 million or 22%, compared to the three months ended March 31, 2024, and were primarily due to the following:

•Salaries and benefits related costs decreased $0.1 million as the Company did not accrue current year bonus accruals due to insufficient cash reserves and the current assessment that current year bonus payments are not reasonably probable to occur.  In addition, stock-based compensation was $0.4 million lower as no new equity grants were awarded in the first quarter of 2025.

18

•Clinical trial expenses increased marginally by $0.1 million due to the ongoing site initiations and patient enrollment of the INVINCIBLE-03 Study. In March 2025, we paused new site activations and patient enrollments due to funding constraints, and prioritized funding for the INVINCIBLE-4 Study. Prior to this pause, the trial had enrolled 23 patients.  We will continue to treat all patients enrolled in this study in cooperation with our third-party contract research organizations during this pause.  Once sufficient funding is obtained, we plan to restart site activations and patient enrollment in the INVINCIBLE-3 Study.  

•Contract manufacturing costs declined by $0.2 million, as there were no manufacturing batches of INT230-6 in the first quarter of 2025.

General and administrative expenses during the three months ended March 31, 2025 increased $0.7 million or 38%, compared to the three months ended March 31, 2024, and were primarily due to the following:

•Salaries and benefits related costs decreased $0.1 million as