INmune Bio Inc 2025年季度报告

FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDEDSEPTEMBER 30,2025 OR 225 NE Mizner Blvd.,Suite 640Boca Raton,FL33432(Address of principal executive office)(Zip code) (561)710-0512(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period than the registrant was required to filesuch reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorterperiod that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicateby check mark whether the registrant is a shell company(as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ As of October 30, 2025, there were26,585,258shares of our common stock, par value $0.001 per share, outstanding. INMUNE BIO INC.FORM 10-QFOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 INDEX PART I – FINANCIAL INFORMATION1Item 1.Financial Statements1Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations17Item 3.Quantitative and Qualitative Disclosure About Market Risk34Item 4.Controls and Procedures34PART II – OTHER INFORMATION35Item 1.Legal Proceedings35Item 1A.Risk Factors35Item 2.Unregistered Sales of Equity Securities and Use of Proceeds35Item 3.Defaults Upon Senior Securities35Item 4.Mine Safety Disclosures35Item 5.Other Information35Item 6.Exhibits35Signatures36 PART I - FINANCIAL INFORMATION INMUNE BIO INC. CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except share and per share amounts)(Unaudited) ASSETS Cash and cash equivalents$27,734$20,922Research and development tax credit receivable1,7041,181Other tax receivable760228Prepaid expenses and other current assets472331TOTAL CURRENT ASSETS30,67022,662 Equipment, net878-Operating lease – right of use asset1,064307Other assets74679Acquired in-process research and development intangible assets-16,514 LIABILITIES AND STOCKHOLDERS’ EQUITYCURRENT LIABILITIES STOCKHOLDERS’ EQUITYPreferred stock, $0.001par value,10,000,000shares authorized,0shares issued and outstanding--Common stock, $0.001par value,200,000,000shares authorized,26,585,258and22,280,451sharesissued and outstanding, respectively2722Additional paid-in capital229,888195,754Accumulated other comprehensive loss(764)(575)Accumulated deficit(203,773)(163,104)TOTAL STOCKHOLDERS’ EQUITY25,37832,097 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. INMUNE BIO INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In thousands, except share and per share amounts)(Unaudited) INMUNE BIO INC. INMUNE BIO INC. INMUNE BIO INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited) INMUNE BIO INC. NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1– ORGANIZATION AND DESCRIPTION OF BUSINESS INmune Bio Inc. (the “Company” or “INmune Bio”) was organized in the State of Nevada on September 25, 2015 and is a clinicalstage biotechnology pharmaceutical company focused on developing and commercializing its product candidates to treat diseaseswhere inflammation and immunology cause a dysfunctional immune system contributing to disease. INmune Bio has three productplatforms.The DN-TNF product platform utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver ofinnate immune dysfunction and mechanistic target of many diseases and was used for its Alzheimer’s clinical trial (“XPro”). TheCORDStrom product platform is a pooled, human umbilical cord mesenchymal stem cell product currently being developed to treatrecessive dystrophic epidermolysis bullosa (“RDEB”). The Natural Killer Cell Priming Platform includes INKmune aimed at primingthe patient’s NK cells to eliminate minimal residual disease in patien