Company: INTS
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001567264-25-000103
Chunk: 54

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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8.6 million. The Company expects to incur significant expenses to complete development of its product candidates. The Company may never be able to obtain regulatory approval for the marketing of any of its product candidates in the United States or internationally and there can be no assurance that the Company will generate revenues or ever achieve profitability. The Company does not expect to receive significant product revenue in the near term. The Company, therefore, expects to continue to incur substantial losses for the foreseeable future.Cash and cash equivalents totaled $7.1 million as of September 30, 2025. Subsequent to September 30, 2025, the Company raised an additional $2.0 million in net proceeds under the ATM Sales Agreement and an additional $4.0 million in gross proceeds from the October 2025 Registered Direct Offering (see Note 13). Until such time the Company can generate substantial product revenue, the Company plans to finance its operations through a combination of equity offerings and convertible debt financings. The Company does not have any committed external source of funds. To the extent that the Company can raise additional capital through the sale of equity or convertible debt securities, the ownership interest of the existing Company stockholders may be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect the rights of the common stockholders. If the Company is unable to raise additional funds through equity or debt financings when needed, the Company may be required to delay, limit, reduce or terminate its research and product development.Based on the cash and cash equivalents as of September 30, 2025, plus net proceeds received under the Company’s ATM Sales Agreement subsequent to September 30, 2025 and the October 2025 Registered Direct Offering, the Company believes that it has sufficient cash until the end of the first quarter of 2027 for its projected current operations. As a result, the Company believes there is substantial doubt about its ability to continue as a going concern.

Note 3.    Basis of Presentation and Summary of Significant Accounting Policies

Basis of presentationThe interim condensed financial statements included herein are unaudited. In the opinion of management, these statements include all adjustments, consisting only of normal, recurring adjustments, necessary for a fair presentation of the financial position of the Company at September 30, 2025, and its results of operations and its cash flows for the three and 

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nine months ended September 30, 2025 and 2024. The interim results of operations