Company: INTS
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001567264-25-000039
Chunk: 26

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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739 202839 20297 Total lease payments149 Less: Amounts representing interest(18)Present value of lease liabilities$131 

Note 10.    Other Uncertainties

The Company holds patents in Russia and Israel, both of which are currently involved in military action. The outcomes of these military actions could impact our ability to maintain and protect these patents.

Note 11.    Related Parties 

In October 2023, the Company issued 80,000 warrants for consulting services to be rendered by two shareholders, which vested over the subsequent twelve months. These warrants are valued at $198,000 and were expensed to general and administrative expense over the subsequent twelve-month period, of which $45,000 was expensed during the three months ended March 31, 2024.In April 2024, the Company entered into a non-material agreement with a service organization controlled by a board member.  For the three months ended March 31, 2025, the Company expensed $1,800 and paid $1,800 to the service organization for services performed, which is recognized in research and development expenses on the statement of operations.  As of March 31, 2025, the Company recognized $1,800 in accrued expenses.

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Note 12. Segments

The Company has a single segment and allocates resources based on cash resources and operating expense projections. The table below summarizes the significant expense categories regularly reviewed by the Company’s president and chief executive officer, who is the Company’s chief operating decision maker (“CODM”), for the three months ended March 31, 2025 and 2024:Three Months Ended March 31,20252024Research and development expenses:Clinical trial expenses:IT-01 Study (Phase 1/2 Metastatic Cancers)$— $53 INVINCIBLE-2 Study (Phase 2 Breast)— 103 INVINCIBLE-3 Study (Phase 3 Sarcoma)1,596 1,419 INVINCIBLE-4 Study (Phase 2 Breast)63 — Clinical trial expenses1,659 1,575 Contract manufacturing24 214 Salaries and benefits related329 394 Consulting & Other(a)17 66 Stock-based compensation160 566 Research and development expenses2,189 2,815 General and administrative expenses:Salaries and benefits related230 324 Legal fees167 257 Audit fees77 115