Company: INTS
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001567264-25-000010
Chunk: 28

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 16
Chunk 28
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 option is not reasonably certain to occur.

F-15

Rent expense for the years ended December 31, 2024 and 2023 was $34,000 and $55,000, respectively. Cash paid for operating leases for the years ended December 31, 2024 and 2023 was approximately $38,000 and $49,000, respectively, all of which pertained to the Shelton Lease.  The following table summarizes the balance sheet classification of the operating lease asset and related lease liabilities as of December 31, 2024 for the Shelton Lease and as of December 31, 2023 for the Westport Lease (in thousands):December 31,2024December 31,2023Right-of-use asset, net$122 $147 Lease liability, current portion28 20 Lease liability, net of current portion110 138 $138 $158 The following variables were used to determine the right-of-use asset and the operating lease liabilities at December 31, 2024 and 2023:December 31,2024December 31,2023Weighted average remaining lease term4.2 years0.75 yearsWeighted average operating lease discount rate6.4 %3.9 %Future minimum lease payments under the lease agreement as of December 31, 2024 were as follows (in thousands):Year ended2025$36 202637 202739 202839 20297 Total lease payments$158 Less: Amounts representing interest(20)Present value of lease liabilities$138 

Note 12.    Other Uncertainties

The Company holds patents in Russia and Israel, both of which are currently involved in military action. The outcomes of these military actions could impact our ability to maintain and protect these patents.

  Note 13. Related Parties

In 2023, a minority stockholder was engaged as a consultant to serve as the Company’s chief medical officer. Under the consulting agreement, the Company recorded approximately $6,200 of research and development expense for the year ended December 31, 2023.The Company sublet a portion of its lease in Westport Lease to a minority stockholder, and recognized sublease income of approximately $23,000 for the year ended December 31, 2023. Sublease income is recorded as a reduction of general and administrative expenses in the Statement of Operations. The sublease ended in April 2023. As of December