Inmune Bio, Inc. Leases Disclosure
NOTE 6 – LEASES
In April 2025, the Company’s wholly-owned subsidiary, INmune Bio International Ltd., entered into an agreement whereby the Company leases manufacturing space from a third party in the United Kingdom for 2 years. The operating lease requires payments of approximately $76,000 each quarter during the first year and $152,000 each quarter during the second year. The lease commencement date was August 2025.
In September 2021, the Company signed a lease with a third party for office space in Boca Raton, Florida. The lease agreement has a 64-month term and commenced during the fourth quarter of 2021. During March 2026, the Company exercised its option to renew the term of its office space in Boca Raton, Florida. The option renewal provides for an additional -year term commencing April 1, 2027. Base rent under the extension will be approximately $17,000 per month during the first year, increasing by approximately 3% annually over the term.
As of December 31, 2025, the maturities of our lease liabilities are as follows:
| (in thousands, except years) | ||||
| 2026 | $ | 729 | ||
| 2027 | 405 | |||
| Total lease payments | 1,134 | |||
| Less: imputed interest | (100 | ) | ||
| Present value of future lease payments | 1,034 | |||
| Less: operating lease, current liabilities | (623 | ) | ||
| Long-term operating lease liabilities | $ | 411 | ||
The weighted average lease term was 1.5 years and 2.3 years as of December 31, 2025 and 2024, respectively. As of December 31, 2025 and December 31, 2024, the weighted-average discount rate for operating leases was 12.0%. During the years ended December 31, 2025 and 2024, the Company recognized $381,000 and $161,000, respectively, of lease expense.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 30, 2026 | Showing above |
| 2024 | Mar 27, 2025 | |
| 2023 | Mar 28, 2024 | |
| 2022 | Mar 2, 2023 | |
| 2021 | Mar 3, 2022 | |
| 2020 | Mar 4, 2021 | |
| 2019 | Mar 11, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.