Company: INMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001213900-25-073077
Chunk: 79

Company: Inmune Bio, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 79
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,053  
     (1,249)
  
    General and administrative 
     2,253  
     2,812  
     (559)
  
    Impairment of acquired in-process research and development intangible assets 
     16,514  
     -  
     16,514 
  
    Total operating expenses 
     24,571  
     9,865  
     14,706 
  
    Loss from operations 
     (24,571) 
     (9,865) 
     (14,706)
  
    Other income, net 
     113  
     119  
     (6)
  
    Net loss 
    $(24,458) 
    $(9,746) 
    $(14,712)

Research and Development

Research and development expenses were approximately $5.8 million during
the three months ended June 30, 2025, compared to approximately $7.1 million during the three months ended June 30, 2024. The change
in research and development expenses during the three months ending June 30, 2025 compared to the three months ending June 30, 2024 is
mainly due to the Company incurring $1.5 million less expenses related to our Alzheimer’s clinical program due to the Company completing
the Phase 2 clinical trial.

General and Administrative

General and administrative
expenses were approximately $2.3 million during the three months ended June 30, 2025 compared to $2.8 million during the three months
ended June 30, 2024. The decrease in general and administrative expenses was mainly due to the Company incurring $0.4 million lower stock-based
compensation during 2025.

Impairment of acquired in-process research
and development intangible assets

During the three months ended
June 30, 2025, the Company released the Phase 2 clinical trial results for our Alzheimer’s drug candidate, XPro, which failed to
meet the primary endpoint, though a subgroup showed potential benefits. Due to insufficient resources to fund further trials, the Company
has halted immediate plans to develop XPro for Alzheimer’s or other indications and are instead seeking a partner to continue these
studies. As part of preparing its interim unaudited condensed consolidated financial statements, the Company determined that the intangible
asset’s fair value was likely below its carrying value. Following a quantitative