Company: INTS
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001567264-25-000077
Chunk: 31

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 was estimated based on the historical volatilities for industry peers, as the Company had no active market for its stock prior to the IPO and limited history for issuance price of its stock. The risk-free rate assumption is determined using the yield currently available on U.S. Treasury zero coupon issues with a remaining term commensurate with the expected term of the award. The expected term of the warrant represents the period the warrants are expected to be outstanding.

10

The following table summarizes the activity for warrants for the six months ended June 30, 2025:WarrantsWeighted-Average Exercise PriceWeighted Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)Outstanding at December 31, 20242,041,563 $4.32 4.7$— Issued6,650,478 $0.82 Exercised— $— Forfeited and cancelled(55,000)$4.09 Outstanding at June 30, 20258,637,041 $1.63 3.4$— Exercisable at June 30, 20258,592,291 $1.61 3.4$— All warrants outstanding are exercisable for purchase of common stock. As of June 30, 2025, total unrecognized compensation cost related to warrants was approximately $0.2 million and is expected to be recognized over the remaining weighted average service period of 2.4 years.Restricted Stock

In September 2024, the Company issued 11,750 restricted shares of its common stock (the “Restricted Stock”) to a consultant as compensation for its services to the Company through the end October 2024 valued at $51,000. The Restricted Stock included a restricted legend for a period of at least six months from the date of issuance.  The six-month period has elapsed, and the Restricted Stock is no longer restricted.  

Note 9.    Leases

In July 2023, the Company signed a 5.5-year lease for approximately 2,700 square feet of office space in Shelton, Connecticut, (the “Shelton Lease”). The Company has a one-time option to cancel the Shelton Lease after 36 months if it provides written notice before the end of month 30. A payment of approximately $47,000 would be due at the end of month 36 if the Company exercises this option. This option is not reasonably certain