Company: INMB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041072
Chunk: 54

Company: Inmune Bio, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 54
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 our expenses and our ability to generate revenues,
if any.

Our recurring net losses and
negative cash flows from operations raised substantial doubt regarding our ability to continue as a going concern within one year after
the issuance of our unaudited condensed consolidated financial statements for the three months ended March 31, 2025. Until we can generate
sufficient revenue from the commercialization of our product candidates, we expect to finance our operations through the public or private
sale of equity, debt financings or other capital sources, such as government funding, collaborations, strategic alliances, divestment
of non-core assets, or licensing arrangements with third parties. To date, the Company has relied on equity and debt financing to fund
its operations.

Other Developments

The
new U.S. administration has announced or imposed a series of tariffs on U.S. trading partners. In response, several countries have threatened
or imposed retaliatory measures. At this time, we do not anticipate the tariffs and changes in trade policies in place as of the filing
of this Quarterly Report on Form 10-Q to have a significant adverse effect on our business or operations.

Following recent changes more broadly within the NIH and FDA, we have
not noticed any disruption of communications with the NIH and FDA to date and continue to maintain productive interactions. To date, there has been no impact to the Company’s operations due to any changes at the NIH or FDA.

Research and Development

Research and development expense
consists of expenses incurred while performing research and development activities to discover and develop our product candidates. This
includes conducting preclinical studies and clinical trials, manufacturing development efforts and activities related to regulatory filings
for product candidates. We recognize research and development expenses as they are incurred. Our research and development expense primarily
consist of:

●clinical
trial and regulatory-related costs;

21

    ●
    expenses incurred under agreements with investigative sites and consultants that conduct our clinical trials;

    ●
    manufacturing and testing costs and related supplies and materials; and

    ●
    employee-related expenses, including salaries, benefits, travel and stock-based compensation.

The following table summarizes
our research and development expenses by product candidate for the periods indicated (in thousands):

    Three Months Ended 

    March 31, 

    2025  
    2024 
  
    External Costs 

    DN-TNF - Alzheimer’s disease 
    $4,852  
    $6,354 
  
    INKmune – (High Risk