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]

Core Insights - Inhibrx Biosciences, Inc. has entered into a loan and security agreement with Oxford Finance LLC, securing a five-year term loan facility of up to $150 million to support its clinical programs [1][2] - The initial term loan of $100 million was funded on January 13, 2025, with an option for an additional $50 million subject to lender discretion [2] - The company is focused on advancing its clinical pipeline, particularly the INBRX-109 and INBRX-106 programs, which are expected to yield key data readouts in 2025 [2][3] Company Overview - Inhibrx Biosciences is a clinical-stage biopharmaceutical company developing a pipeline of novel biologic therapeutic candidates using advanced protein engineering methods [3] - The company was incorporated in January 2024 and has undergone restructuring, acquiring certain assets and liabilities from Inhibrx, Inc. [3] - The current pipeline includes ozekibart (INBRX-109) and INBRX-106, both utilizing multivalent formats for optimized therapeutic functions [3] Financial Arrangement - The repayment schedule for the loan allows for interest-only payments until March 2028, providing financial flexibility for the company [2] - As part of the loan agreement, Inhibrx issued warrants to purchase 140,741 shares of common stock at a strike price of $14.21 per share, equating to 2% of the initial term loan value [2]

Core Viewpoint - Inhibrx Biosciences, Inc. reported its financial results for Q3 2024, highlighting a net loss reduction and ongoing clinical trials following its spin-off from Inhibrx, Inc. [1][2] Financial Results - As of September 30, 2024, Inhibrx Biosciences had cash and cash equivalents of $196.3 million, down from $226.9 million as of June 30, 2024, primarily due to operational expenses [2]. - Research and development expenses increased to $38.9 million in Q3 2024 from $38.1 million in Q3 2023, driven by expanded clinical trial activities [2]. - General and administrative expenses remained stable at $7.9 million for both Q3 2024 and Q3 2023, with fluctuations due to changes in stock option expenses and professional service costs [2]. - Other income was reported at $2.9 million in Q3 2024, a significant improvement from an expense of $6.0 million in Q3 2023, attributed to the absence of third-party debt post-spin-off [2]. - The net loss for Q3 2024 was $43.9 million, or $2.84 per share, compared to a net loss of $51.8 million, or $4.39 per share, in Q3 2023 [2][5]. Company Overview - Inhibrx Biosciences is a clinical-stage biopharmaceutical company focused on developing a pipeline of novel biologic therapeutic candidates, utilizing advanced protein engineering methods [3]. - The company was incorporated in January 2024 as a wholly-owned subsidiary of Inhibrx, Inc., following a series of restructuring transactions and a distribution of shares to common stockholders [3]. - The current clinical pipeline includes ozekibart (INBRX-109) and INBRX-106, both designed to optimize therapeutic functions through multivalent formats [3].

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]

Core Viewpoint - Inhibrx Biosciences, Inc. achieved a significant legal victory in a trade secrets case against I-Mab Biopharma, with the jury rejecting all allegations of misappropriation, thereby affirming the company's ethical standards and innovative research practices [1][2][3]. Legal Case Summary - I-Mab initiated the lawsuit on March 1, 2022, claiming that Inhibrx and its Chief Scientific Officer improperly accessed proprietary information during a prior arbitration [2]. - The jury found no basis for I-Mab's claims, validating Inhibrx's independent development processes and ethical conduct [2][3]. Company Values and Commitment - Inhibrx was founded on principles of integrity and scientific excellence, focusing on advancing novel therapeutics for patients [3][4]. - The company emphasized its commitment to independent development and protecting intellectual property throughout the trial [3]. Future Focus - Following the verdict, Inhibrx aims to concentrate on delivering life-changing therapies to patients globally, expressing gratitude for the support received during the legal process [5]. - The company continues to develop a broad pipeline of novel biologic therapeutic candidates in oncology, utilizing advanced protein engineering methods [6].

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].

SAN DIEGO, May 24, 2024 /PRNewswire/ -- Inhibrx, Inc. (Nasdaq: INBX) ("Inhibrx," or the "Company") announced that, at a special meeting (the "Special Meeting"), the Company's stockholders approved the sale to Sanofi of all the assets and liabilities primarily related to INBRX-101, an optimized, recombinant alpha-1 antitrypsin ("AAT") augmentation therapy currently in a registrational trial for the treatment of patients with alpha-1 antitrypsin deficiency ("AATD"). Immediately prior to the closing of the mer ...

SAN DIEGO, May 10, 2024 /PRNewswire/ -- Inhibrx, Inc. (Nasdaq: INBX) ("Inhibrx," or the "Company") today announced that in connection with the previously announced distribution by the Company of 92% of shares of common stock of its subsidiary Inhibrx Biosciences, Inc. ("SpinCo") to holders of shares of the Company's common stock on a pro rata basis (the "Spin-Off"), the Nasdaq Global Market ("Nasdaq") informed the Company that Nasdaq intends to permit the commencement of the trading of the shares of SpinCo ...