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 ...

About Inhibrx, Inc. Inhibrx is a clinical-stage biopharmaceutical company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary protein engineering platforms. For more information, please visit www.inhibrx.com. Exhibit 99.1 Inhibrx Reports First Quarter 2024 Financial Results and Recent Corpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39452 INHIBRX, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or or ...

SAN DIEGO, May 8, 2024 /PRNewswire/ -- Inhibrx, Inc. (Nasdaq: INBX) ("Inhibrx," or the "Company") today announced that it has set a record date of May 17, 2024 (the "Record Date") for 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 Company also announced that the distribution in the Spin-Off is expected to occur at 11:59 p ...