Company: INMB
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001213900-25-104141
Chunk: 25

Company: Inmune Bio, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 September 30, 2024, the Company recognized stock-based compensation
expense of approximately $1.7 million and $5.8 million, respectively, related to the vesting of stock options. As of September 30, 2025,
there was approximately $8.0 million of total unrecognized compensation cost related to non-vested stock options which is expected to
be recognized over a weighted-average period of 2.63 years.

15

Warrants

The Company issued warrants to the Company’s
lenders upon obtaining a loan in June 2021. The warrants have a 10-year term and an exercise price of $14.05. At September 30, 2025, 45,386 of
these warrants are outstanding and the intrinsic value of these warrants is $0.

During April
2024, the Company issued 1,557,592 warrants to investors in connection with the sale of common stock. At September 30, 2025, 1,557,592 of
these warrants are outstanding and are exercisable for cash at a weighted average price of $9.59 per share. The intrinsic value of
these warrants was $0 as of September 30, 2025.

During September
2024, the Company issued 2,341,260 warrants to investors in connection with the sale of common stock. At September 30, 2025, 2,341,160 of
these warrants are outstanding and are exercisable for cash at a weighted average price of $6.40 per share. The intrinsic value of
these warrants was $0 as of September 30, 2025.

Stock-based Compensation by Class of Expense

The following summarizes the components of stock-based
compensation expense in the consolidated statements of operations for the nine months ended September 30, 2025 and 2024 respectively:

    (in thousands) 
    Three Months Ended September 30, 2025  
    Three Months Ended September 30, 2024  
    Nine Months Ended September 30, 2025  
    Nine Months Ended September 30, 2024 
  
    Research and development 
    $1,363  
    $677  
    $2,820  
    $2,375 
  
    General and administrative 
     1,621  
     1,042  
     3,774