INmune Bio Inc. (INMB) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. Welcome and thank you for coming to the 2021 Annual Meeting of the Shareholders of INmune Bio, Inc. My name is Raymond J. Tesi. I am the President and Chief Executive Officer and a member of the Board of Directors of the company. I will act as chairperson of the meeting. We're excited to be hosting our virtual meeting, which allows us to be more inclusive and reach a greater number of our stockholders. We have stockholders attending via the web portal and an 800 number that we have provided. As is our custom, we will conduct the business portion of our meeting first and answer questions at the end of the meeting. Though we may not be able to answer every question, we will do our best to provide a response to [Audio Gap]. In keeping with the digital approach to this year's meeting, it is now shortly after 10 a.m. Eastern Standard Time on June 1, 2021, and this meeting is officially called to order. I would like to introduce David J. Moss, Chief Financial Officer and Corporate Secretary, who will act as the secretary of the meeting. David, would you please address some of the other formalities relating to the meeting?

Thank you, RJ. Certain formalities are required to convene this meeting, after which the matters stated in the notice of this meeting and in the proxy statement, which you received, shall be addressed. I would like to begin by calling your attention to the agenda for the meeting, which has been provided to you and it's on your screen. The business of the meeting will follow the order set forth in the agenda. Broadridge Financial Solutions has been appointed the independent inspector of elections for this meeting, and a representative of Broadridge Financial Solutions is with us today and has been duly sworn in. As secretary of the company, I will include the oath of the inspector of elections and the report of the inspector of elections, when completed, regarding the quorum and voting in the minutes of this meeting. After the formal meeting has been adjourned, we will provide time for general questions. [Operator Instructions] Please note that this meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any auto -- audio recording device. The Board of Directors fixed April 13, 2021, as the record date for determining stockholders entitled to vote at this meeting. An affidavit has been delivered attesting to the fact that, one, a notice of internet availability of the notice of meeting, the proxy statement and the 2020 annual report to stockholders; or two, the documents themselves were mailed on or about April 27, 2021, to all stockholders as of the record date and will be incorporated into the minutes of this meeting. The stockholder list show that as of the record date, there were approximately 14,932,638 shares of common stock outstanding entitled to vote at the annual meeting -- at this annual meeting. We're informed by the inspector of elections that there are represented, in-person or by proxy, shares of common stock representing 9,425,611 votes or approximately 63.12% of the voting power on the record date. Since this represents more than a majority of the voting power of all issued and outstanding stock entitled to vote on the record date, a quorum is present for purposes of transacting business. That completes the administrative formalities. I turn the program back to you, RJ.

Now I will present matters to be voted on. We will address any questions you may have regarding the business of the company later in the program. Proposal 1 is election of directors. The current Board has nominated me, Raymond J. Tesi, MD; J. Kelly Ganjei; Tim Schroeder; David Szymkowski; Scott Juda; Ed Baracchini; and Marcia Allen for election as directors to hold office until the Next Annual Meeting of Stockholders or until their successors are duly elected and qualified. Proposal 2 is to ratify the appointment of Marcum LLP as the company's independent registered public accounting firm for the year ending December 31, 2021. Proposal 3 is to approve INmune Bio, Inc.'s 2021 stock incentive plan. If any stockholder would like to make a comment regarding any of the proposals, please submit your comment through the web portal.

It is now 10:05 a.m. Eastern Time on June 1, 2021, and the polls are now open. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not wish -- want to change their vote do not need to take any action. I will pause for a few minutes for voting. [Voting]