Company: INTS
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001567264-25-000010
Chunk: 22

Company: INTENSITY THERAPEUTICS, INC.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 16
Chunk 22
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 date of this ASU or (2) retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact that the adoption of ASU 2024-03 will have on its financial statement disclosures.

Note 4.    Cash and Cash Equivalents

Cash and cash equivalents consisted of the following (in thousands):December 31,20242023Savings and checking accounts at major U.S. financial institutions$428 $367 U.S. Treasury securities money market fund2,162 8,189 Total$2,590 $8,556 

Note 5.    Marketable Debt Securities

Marketable debt securities as of December 31, 2023 consisted entirely of U.S. Treasury bills purchased with maturities over three months but less than twelve months. There were no marketable debt securities as of December 31, 2024.

F-11

Note 6.    Prepaid Expenses

Prepaid expenses consisted of the following (in thousands):December 31,20242023Prepaid insurance$421 $647 Prepaid research and development costs239 — Prepaid other113 41 Total$773 $688 

Note 7.    Accrued Expenses

Accrued expenses consisted of the following (in thousands):December 31,20242023Accrued research and development costs$373 $439 Accrued employee compensation-related expenses56 392 Accrued other79 60 Total$508 $891 

Note 8.    Convertible Notes

Prior to the IPO, the Company entered into a series of interest-bearing convertible notes, which bore interest at rates ranging 3% to 10%, and were automatically converted upon the IPO at a discount ranging 30% to 35% to the conversion price of $11.50 per share, in accordance with the respective note agreements.  Below is a summary of activity of convertibles notes for the year ended December 31, 2023 (in thousands): PrincipalAccrued InterestTotalAs of January 1, 20234,250 99 4,349 Issuance of Convertible Notes243 — 243 Interest expense— 145 145 Conversion to common stock upon IPO(4,493)(244)(4,737)Balance as of December 31, 2023$— $— $— Upon the IPO,