Core Viewpoint - Inhibrx Biosciences, Inc. reported its financial results for Q2 2025, highlighting a significant decrease in both revenue and net income compared to the same period in 2024, following the completion of the 101 Transaction and the spin-off from its former parent company [1][4]. Financial Results - As of June 30, 2025, Inhibrx had cash and cash equivalents of $186.6 million, down from $216.5 million as of March 31, 2025 [4]. - Revenue for Q2 2025 was $1.3 million, a substantial increase from $0.1 million in Q2 2024 [4][7]. - Research and development expenses were $22.3 million in Q2 2025, significantly lower than $67.6 million in Q2 2024, primarily due to the elimination of costs associated with the INBRX-101 program following the 101 Transaction [4][8]. - General and administrative expenses decreased to $6.4 million in Q2 2025 from $93.4 million in Q2 2024, reflecting the absence of non-recurring expenses related to the 101 Transaction [4][8]. - The company reported a net loss of $28.7 million in Q2 2025, compared to a net income of $1.9 billion in Q2 2024, largely due to the prior year's gain from the 101 Transaction [4][8]. Upcoming Milestones - The ozekibart (INBRX-109) Phase 2 trial in unresectable or metastatic conventional chondrosarcoma has completed full enrollment, with results expected by late October 2025 [4]. - Initial Phase 2 data from the INBRX-106 trial in head and neck squamous cell carcinoma, in combination with KEYTRUDA®, is anticipated in Q4 2025 [4].

Core Viewpoint - Inhibrx Biosciences, Inc. announces significant leadership changes with the departure of co-founder and Chief Scientific Officer Dr. Brendan Eckelman, who will establish a new private biotechnology company, and the appointments of Dr. Carlos Bais as CSO and David Matly as President [1][2][3][4]. Leadership Changes - Dr. Brendan Eckelman is leaving Inhibrx to become the founder and CEO of a new biotechnology company, with an exclusive license agreement in place for certain technologies previously pursued by Inhibrx [2]. - Dr. Carlos Bais, previously Executive Vice President of Translational Sciences, will take over as CSO, bringing a strong scientific background and expertise in late-stage development [5][6]. - David Matly has been promoted to President while retaining his roles as Chief Commercial and Business Development Officer, overseeing various functions including clinical development and operations [4][5]. Financial and Strategic Implications - The agreement with Dr. Eckelman’s new company includes an upfront payment upon the completion of initial funding and future development milestones, indicating potential financial implications for Inhibrx [2]. - David Matly played a key role in the asset sale of INBRX-101 to Sanofi for up to $2.2 billion in 2024, highlighting his experience in commercial strategy and business development [4]. Company Overview - Inhibrx Biosciences is a clinical-stage biopharmaceutical company focused on developing novel biologic therapeutic candidates, utilizing diverse protein engineering methods [9]. - The current clinical pipeline includes ozekibart (INBRX-109) and INBRX-106, with key data readouts expected in 2025 [9].

Core Insights - Inhibrx Biosciences, Inc. reported financial results for Q4 and fiscal year 2024, highlighting a significant change in its operational structure following the spin-off from its former parent company and the sale of INBRX-101 to Sanofi S.A. [1] - The company currently has two clinical programs in ongoing trials, with data readouts expected within the next 12 months [1] Financial Results - As of December 31, 2024, Inhibrx had cash and cash equivalents of $152.6 million, which increased to $230.5 million by February 28, 2025, following a loan agreement that provided $100 million in gross proceeds [3][6] - General and administrative expenses rose to $16.7 million in Q4 2024 from $7.8 million in Q4 2023, primarily due to legal services and one-time expenses related to the spin-off [5][12] - Research and development expenses decreased to $33.4 million in Q4 2024 from $82.1 million in Q4 2023, attributed to reduced contract manufacturing costs following the divestiture of INBRX-101 [7] - For the fiscal year 2024, research and development expenses totaled $203.7 million, up from $191.6 million in 2023, driven by increased clinical trial expenses and stock option expenses related to the spin-off [7] - The company reported a net loss of $47.9 million in Q4 2024, a decrease from a loss of $93.6 million in Q4 2023, while achieving a net income of $1.7 billion for the fiscal year 2024 compared to a net loss of $241.4 million in 2023 [10][12] Clinical Developments - Interim efficacy and safety data from the Phase 1 trial of ozekibart (INBRX-109) showed promising results in treating advanced colorectal adenocarcinoma, with 46.2% of patients achieving durable disease control lasting at least 180 days [6] - A new expansion cohort for the ozekibart trial is expected to enroll up to 50 patients, with data anticipated in Q3 2025 [6] Company Overview - Inhibrx is a clinical-stage biopharmaceutical company focused on developing novel biologic therapeutic candidates, utilizing advanced protein engineering methods [10] - The company was incorporated in January 2024 as a wholly-owned subsidiary of Inhibrx, Inc., following a series of restructuring transactions [10]

Core Insights - Inhibrx Biosciences, Inc. announced preliminary efficacy and safety data from the Phase 1 trial of ozekibart (INBRX-109) in combination with FOLFIRI for advanced or metastatic, unresectable colorectal adenocarcinoma [1][2] Efficacy Data - Efficacy was assessed in 10 of the 13 patients, showing one complete response (CR), three partial responses (PR), and six cases of stable disease (SD) [2] - Durable disease control lasting ≥180 days was observed in 46.2% of patients, with a median progression-free survival (PFS) of 7.85 months [2] - All patients had received at least one prior line of systemic therapy, with a median of two prior therapies [2] Safety Data - Ozekibart-related treatment-emergent adverse events (TEAEs) were reported in 84.6% of patients, with most being grade 1 or 2 [3] - Grade ≥3 TEAEs were observed in 30.8% of patients, with common TEAEs including nausea, increased alanine aminotransferase, diarrhea, and fatigue [3] Future Plans - Inhibrx has initiated a new expansion cohort to validate findings in a more uniform patient population, expecting to enroll up to 50 patients [4] - Data from this expansion cohort are anticipated in Q3 2025 [4] Company Overview - Inhibrx is a clinical-stage biopharmaceutical company focused on developing therapeutics for oncology and rare diseases [1] - The company utilizes diverse methods of protein engineering to address complex target and disease biology [9]

SAN DIEGO, Jan. 13, 2025 /PRNewswire/ -- Inhibrx Biosciences, Inc. ("Inhibrx" or the "Company") (Nasdaq: INBX), a biopharmaceutical company with two programs in ongoing clinical trials, today announced it entered into a loan and security agreement (the "LSA") with Oxford Finance LLC ("Oxford", together with certain of its affiliates party thereto, the "Lenders"), pursuant to which the Lenders provided a five-year term loan facility for up to $150 million (the "Credit Facility")."This enables us strategic fl ...

SAN DIEGO, Nov. 14, 2024 /PRNewswire/ -- Inhibrx Biosciences, Inc. (Nasdaq: INBX) ("Inhibrx Biosciences" or the "Company") today reported financial results for the third quarter of 2024. Following the completion of the sale of INBRX-101 by Inhibrx, Inc. (the "Former Parent") to Sanofi S.A. and the Former Parent's concurrent spin-off of the Inhibrx Biosciences business in May 2024, the biopharmaceutical company now has two programs in ongoing clinical trials, with data readouts for each expected within the n ...

Core Insights - Inhibrx Biosciences (NASDAQ: INBX) is a spinoff from the original Inhibrx, which was funded through a merger with a Sanofi subsidiary in May 2024 [1] Company Overview - Inhibrx has two pipeline candidates that are currently under development [1] - The company is focused on educating investors about the science behind its business and the importance of due diligence in biotech investments [1]

SAN DIEGO, Nov. 4, 2024 /PRNewswire/ -- Inhibrx Biosciences, Inc. (Nasdaq: INBX) ("Inhibrx" or the "Company"), a biopharmaceutical company with two programs in ongoing clinical trials and a strong emerging pipeline, is pleased to announce a decisive legal victory in a trade secrets case brought by I-Mab Biopharma ("I-Mab") in the United States District Court for the District of Delaware. The jury found in favor of Inhibrx, rejecting all allegations of misappropriation before it, confirming the Company's adh ...

Core Insights - Inhibrx Biosciences, Inc. reported significant financial results for Q2 2024, highlighting a strong performance following its separation from the former parent company [1] Separation from the Former Parent - In January 2024, the former parent company announced the spin-off of INBRX-101, a therapy for alpha-1 antitrypsin deficiency, which was completed on May 30, 2024 [2][3] - The transaction involved transferring all assets and liabilities related to INBRX-101 to Aventis Inc., a subsidiary of Sanofi, while Inhibrx acquired assets and liabilities associated with its ongoing programs [3] - Former parent stockholders received $30.00 per share in cash, contingent value rights, and shares of Inhibrx Biosciences [4] Financial Results - As of June 30, 2024, Inhibrx had cash and cash equivalents of $226.9 million, down from $255.4 million on May 30, 2024, primarily due to distribution payments [7] - Research and development expenses increased to $67.6 million in Q2 2024 from $34.1 million in Q2 2023, driven by stock option expenses and increased CMC expenses [8] - General and administrative expenses surged to $93.4 million in Q2 2024 from $7.3 million in Q2 2023, largely due to legal and advisory fees related to the separation [10] - Other income for Q2 2024 was reported at $2.0 billion, a significant increase from an expense of $5.7 million in Q2 2023, attributed to gains from the separation transaction [11] - The net income for Q2 2024 was $1.9 billion, or earnings per share of $127.10, compared to a net loss of $47.1 million in Q2 2023 [12] Company Overview - Inhibrx Biosciences is a clinical-stage biopharmaceutical company focused on developing a pipeline of novel biologic therapeutic candidates in oncology, utilizing advanced protein engineering methods [13]

Core Viewpoint - Inhibrx Biosciences, Inc. is making significant strides in developing its oncology pipeline, particularly with drugs INBRX-109 and INBRX-106, following the sale of INBRX-101 to Sanofi for $2.2 billion, which has generated shareholder value and interest in the company's future prospects [1][2][16]. Company Developments - Inhibrx has advanced INBRX-101 into a phase 3 study for alpha-1 antitrypsin deficiency, attracting attention from Sanofi, which acquired the drug for an aggregate value of $2.2 billion [1][2][16]. - The company has retained rights to its oncology pipeline, focusing on two key compounds: INBRX-109 for Ewing Sarcoma and INBRX-106 for multiple solid tumor types [3][26]. Drug Pipeline - INBRX-109 is a tetravalent molecule targeting Death receptor 5 (DR5) and is being developed for Ewing Sarcoma, a rare tumor primarily affecting children and young adults [4][5]. - The Ewing Sarcoma therapeutics market is projected to reach $424.42 million by 2032, indicating a moderate market opportunity for INBRX-109 [6]. - INBRX-106 is a hexavalent molecule targeting OX40, with potential applications across various solid tumor types, including non-small cell lung cancer and melanoma [11][12]. Clinical Trials and Efficacy - A phase 1 study for INBRX-109 has been initiated, aiming to recruit 240 patients to evaluate its efficacy in combination with standard care therapies [7][8]. - The combination of INBRX-109 with standard chemotherapeutics IRI and TMZ has shown an objective response rate (ORR) of 53.8%, with classical Ewing Sarcoma patients achieving an ORR of 71.4% [9][10][26]. - INBRX-106 has demonstrated improved antitumor activity in preclinical models, leading to its advancement into phase 1 studies in combination with Keytruda [15][27]. Financial Position - Following the sale of INBRX-101, Inhibrx has $30 per share in cash and a contingent value right for an additional $5 upon achieving regulatory milestones [18][16]. - The company reported cash and cash equivalents of $277.9 million as of December 31, 2023, with a cash burn rate of approximately $89.9 million per quarter, indicating a need for future funding [20][21].