Company: INTS
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001567264-25-000103
Chunk: 61

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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2013 Plan terminated in August 2023 on the tenth anniversary of the 2013 Plan’s date of adoption by the board. No new awards were made under the 2013 Plan after such termination date, but awards previously granted may extend beyond such date.In 2021, the Company established the 2021 Stock Incentive Plan (the “2021 Plan”), authorizing the granting of equity awards for the issuance of up to 3,000,000 shares of common stock. Upon adoption of the 2021 Plan, no more shares would be issued under the 2013 Plan. Starting on January 1, 2022, the shares authorized under the 2021 Plan shall have an annual increase of the lessor of (a) 3.5% of the aggregate number of shares of common stock outstanding on the final day of the preceding calendar year, or (b) such smaller amount as determined by the Board. On January 1, 2023 and January 1, 2024, an additional 238,700 and 479,828 shares were authorized under the 2021 Plan. On January 1, 2025, an additional 529,300 shares were authorized under the 2021 Plan. As of September 30, 2025, 957,277 shares were available for issuance under the 2021 Plan.The Company recorded total stock-based compensation for its outstanding stock options and warrants in its Statements of Operations as follows (in thousands):Three Months EndedSeptember 30,Nine Months Ended September 30,2025202420252024Research and development$182 $187 $606 $970 General and administrative289 296 944 1,259 Total stock-based compensation expense$471 $483 $1,550 $2,229 

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Stock optionsThe following table summarizes the range of assumptions used to estimate the fair value of stock options issued using the Black-Scholes-Merton option pricing model:Nine Months Ended September 30,20252024Stock price$0.57$3.76 to $5.19Exercise price$0.57$3.76 to $5.19Expected volatility106.8% to 107.9%97.1% to 101.6%Risk free interest rates4.1% to 4.6%4.1% to 4.5%Expected term (years)6.5 to 75 to 7For the nine