Company: INMB
Filing Date: 2025-03-07
Form Type: 424B5
Source: 0001213900-25-021719
Chunk: 15

Company: Inmune Bio, Inc.
Filing Date: 2025-03-07
Form: 424B5
Chunk 15
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 our amended and restated INmune Bio Inc. 2021 stock incentive 
 plan and 15,975 shares available under the 2019 stock incentive plan.                                                                   |

<div align='center'>S-6

RISK FACTORS</div>

We will have broad discretion in the use of the net proceeds from this offering and we may use the net proceeds in a manner that does not increase the value of your investment.

We currently intend to use
the net proceeds from this offering to offering to fund an open-label RDEB clinical trial in the US and UK using CORDStrom,
to support CMC activities including cGMP commercial scale manufacturing, and to advance regulatory work for BLA and
MAA submissions for CORDStrom, to complete the Phase II AD trial of XPro, to continue the INKmune program, and for general corporate
purposes, working capital, other research and development, and manufacturing. See “Use of Proceeds.” However, we have not
determined the specific allocation of the net proceeds among these potential uses. Our management will have broad discretion over the
use and investment of the net proceeds from this offering, and, accordingly, the investor in this offering will need to rely upon the
judgment of our management with respect to the use of proceeds, with only limited information concerning our specific intentions. We may
use the net proceeds in ways that do not improve our operating results or increase the value of your investment.

You will experience immediate and substantial dilution as a result of this offering and may experience additional dilution in the future.

You will incur immediate and substantial dilution as a result of this offering. After giving effect to the sale by us of 3,898,852 shares of common stock issuable from time to time upon exercise of the Warrants, consisting of (i) April 2024 Warrants to purchase 571,592 shares of common stock at the offering price of $9.152 (representing the exercise price of the April 2024 Warrants), (ii) Second April 2024 Warrants to purchase 986,000 shares of common stock at the offering price of $9.84 (representing the exercise price of the Second April 2024 Warrants), and (iii) September 2024 Warrants to purchase 2,341,260 shares of common stock at the offering price of $6.40 (representing the exercise price of the September 2024 Warrants), and after deduct