New York, New York--(Newsfile Corp. - January 20, 2026) - Levi & Korsinsky notifies investors that it has commenced an investigation into Instil Bio, Inc. ("Instil Bio, Inc.") (NASDAQ: TIL) concerning potential violations of the federal securities laws.Instil issued a press release on January 6, 2026, announcing that Axion Bio, Inc. ("Axion"), an Instil subsidiary, "has decided to discontinue clinical development of AXN-2510 and that Axion and ImmuneOnco Biopharmaceuticals (Shanghai) Inc. . . . have entere ...

Core Viewpoint - The termination of the licensing and collaboration agreement between Yiming Anke (01541.HK) and Instil Bio (TIL.US) for the development of two cancer drugs, IMM2510 and IMM27M, is a significant setback for Yiming Anke, which had potential revenues exceeding $2 billion from this deal [2][3][5]. Group 1: Agreement Details - The collaboration agreement, established in August 2024, allowed Yiming Anke to retain rights in Greater China while granting Axion Bio exclusive global development and commercialization rights [2][3]. - Yiming Anke received a total of $35 million in payments from the collaboration, including a $5 million upfront payment and milestone payments [3][5]. - The agreement was initially seen as a major milestone for Yiming Anke's international strategy, particularly as PD-(L)1/VEGF dual antibodies were highly sought after in the international business development market [3][5]. Group 2: Reasons for Termination - The primary reason for the termination was the slow progress of clinical trials, with only three patients enrolled in the U.S. clinical trial as of January 2026, which was significantly below expectations [3][4]. - Yiming Anke's founder indicated that the choice of collaboration partner had limitations, contributing to the slow development pace [4][5]. Group 3: Future Strategy and Market Reaction - Following the termination, Yiming Anke plans to regain control over the global rights to the two drugs, which may accelerate their development pace [5][6]. - The market reacted negatively to the news, with Instil Bio's stock price dropping over 50% following the announcement [2]. - Yiming Anke aims to pursue new business development opportunities with multinational companies and is considering partnerships with mid-sized firms for further development [6].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Instil Bio, Inc. and its officers or directors [1] Group 1: Company Developments - On January 6, 2026, Instil announced that its subsidiary, Axion Bio, Inc., will discontinue the clinical development of AXN-2510 and terminate its collaboration agreement with ImmuneOnco Biopharmaceuticals [2] - Following this announcement, Instil's stock price dropped by $5.63 per share, representing a decline of 45.81%, closing at $6.66 per share on the same day [2] Group 2: Legal Context - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having a long history of fighting for victims of securities fraud and corporate misconduct [3]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company operates with a team of experienced and qualified news journalists across key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered by the team includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Utilization - Proactive is committed to adopting technology to enhance its workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Core Viewpoint - Instil Bio, Inc. experienced a significant decline in share price, dropping 45.97% after announcing the discontinuation of clinical development for AXN-2510 and terminating its collaboration agreement with ImmuneOnco Biopharmaceuticals [1][2]. Group 1 - The company’s wholly owned subsidiary, Axion Bio, decided to halt the development of AXN-2510, leading to the termination of the agreement with ImmuneOnco [2]. - Following the announcement, Instil Bio's stock opened at $11.39, down from a previous close of $12.29, and traded between $5.67 and $7.00 during the day [2]. - The trading volume surged to approximately 2.02 million shares, significantly higher than the average volume of around 72,453 shares [2]. Group 2 - The stock has a 52-week trading range of $5.67 to $42.79, indicating substantial volatility in its market performance [3].

Core Viewpoint - Instil Bio, Inc. is experiencing a decline in stock price following the decision by its subsidiary, Axion Bio Inc., to discontinue the clinical development of its lead asset, AXN-2510, a bispecific antibody targeting PD-L1 and VEGF for multiple solid tumors [1][5]. Group 1: Discontinuation of AXN-2510 - Axion Bio has decided to halt the clinical development of AXN-2510, which was in development for multiple solid tumors [1]. - The collaboration agreement between Axion and ImmuneOnco Biopharmaceuticals for AXN-2510 and AXN-27M has been terminated, with all rights reverting to ImmuneOnco [2]. Group 2: Financial Implications and Agreements - In August 2024, Instil Bio in-licensed the ex-China development and commercial rights to ImmuneOnco's IMM2510 and an anti-CTLA-4 antibody, IMM27M, with potential payments exceeding $2 billion and royalties on global ex-China sales [3]. - The agreement included an upfront payment and potential near-term payments of up to $50 million [3]. Group 3: Clinical Data and Stock Performance - Preliminary safety and efficacy data from a Phase 2 study of IMM2510/AXN-2510 in combination with chemotherapy for advanced non-small cell lung cancer (NSCLC) showed partial responses in 80% of squamous NSCLC patients and 46% of non-squamous NSCLC patients [4]. - Instil Bio's stock was reported to be down 52.48% at $5.84, marking a new 52-week low [5].

Market Overview - U.S. stocks showed mixed performance with the Nasdaq Composite gaining over 50 points, while the Dow decreased by 0.03% to 48,962.01 and the S&P 500 rose by 0.14% to 6,911.52 [1] - Energy shares increased by 2.9%, while utilities stocks fell by 2.2% [1] Company Earnings - AngioDynamics, Inc. reported better-than-expected second-quarter results with an adjusted EPS of $0.00, surpassing market estimates of a loss of $0.10 per share. Sales reached $79.433 million, exceeding expectations of $76.300 million [2] Commodity Prices - Oil prices rose by 0.5% to $58.58, gold increased by 0.6% to $4,477.40, silver gained 2.4% to $78.505, and copper rose by 1.4% to $6.0565 [5] European Market Performance - European shares were mostly higher, with the eurozone's STOXX 600 gaining 0.3%, Spain's IBEX 35 Index rising 0.5%, London's FTSE 100 increasing by 1%, Germany's DAX gaining 0.4%, and France's CAC 40 slipping by 0.3% [6] Asian Market Performance - Asian markets closed mostly higher, with Japan's Nikkei 225 up 1.32%, Hong Kong's Hang Seng Index up 1.38%, China's Shanghai Composite surging 1.50%, while India's BSE Sensex fell by 0.44% [7] Notable Stock Movements - Alumis Inc. shares surged 148% to $20.54 following positive Phase 3 trial results for envudeucitinib in psoriasis [8] - Envirotech Vehicles, Inc. shares rose 73% to $0.6699 after announcing a merger transaction [8] - Cyclerion Therapeutics Inc. shares increased by 54% to $2.13 due to an expanded collaboration with Medsteer [8] - Instil Bio Inc. shares dropped 53% to $5.78 after discontinuing clinical development of AXN-2510 [8] - MOBIX LABS, INC. shares fell 45% to $0.18 following a $6.0 million stock offering [8] - BitVentures Ltd – ADR shares decreased by 23% to $11.40 [8] Economic Indicator - The Logistics Manager's Index declined for the second consecutive month to 54.2 in December, down from 55.7 in the previous two months [9]

Core Viewpoint - Instil Bio, Inc. announced the discontinuation of clinical development for AXN-2510 and the termination of its collaboration agreement with ImmuneOnco Biopharmaceuticals [1][2] Group 1: Company Actions - Axion Bio, Inc., a subsidiary of Instil, has decided to stop the clinical development of AXN-2510 [1] - A termination agreement has been reached between Axion and ImmuneOnco, which includes the reversion of all previously licensed rights to ImmuneOnco [2] Group 2: Licensing and Rights - Under the termination agreement, global development and commercial rights outside Greater China have reverted to ImmuneOnco, with Axion retaining a limited license to wind down its clinical activities [2]

Financial Performance - For the three months ended September 30, 2025, the net loss was $13.6 million, a decrease of $9.4 million compared to a net loss of $23.0 million for the same period in 2024[127]. - The company reported a net loss of $63.2 million for the nine months ended September 30, 2025, compared to a net loss of $62.2 million in 2024, reflecting a decrease of $941,000[133]. - Cash used in operating activities for the nine months ended September 30, 2025 was $29.5 million, consisting of a net loss of $63.2 million and non-cash charges of $34.3 million[159]. Operating Expenses - Total operating expenses for the three months ended September 30, 2025, were $15.0 million, down from $23.6 million in 2024, reflecting a decrease of $8.6 million[127]. - General and administrative expenses decreased to $5.9 million for the three months ended September 30, 2025, from $10.7 million in 2024, a net decrease of $4.8 million[131]. - In-process research and development expenses were nil for the three months ended September 30, 2025, compared to $10.0 million for the same period in 2024, reflecting a net decrease of $10.0 million[128]. Research and Development - Research and development expenses increased to $9.1 million for the three months ended September 30, 2025, compared to $0.6 million in 2024, an increase of $8.6 million[127]. - Total research and development expenses for the nine months ended September 30, 2025, were $21.2 million, up from $10.7 million in 2024, representing a net increase of $10.5 million[135]. - Research and development expenses increased to $9.1 million for the three months ended September 30, 2025, from $0.6 million in 2024, a net increase of approximately $8.6 million primarily due to costs related to the ImmuneOnco collaboration[129]. Cash and Investments - As of September 30, 2025, the company had cash, cash equivalents, restricted cash, marketable securities, and long-term investments totaling $83.4 million[107]. - Cash provided by investing activities for the nine months ended September 30, 2025 was $17.7 million, primarily from marketable securities investments[161]. - Cash provided by financing activities for the nine months ended September 30, 2025 was $7.3 million, mainly from net proceeds of $6.6 million from the ATM Program[163]. Clinical Trials and Product Development - The lead product candidate, AXN-2510, is a bispecific antibody targeting PD-L1 and VEGFs, currently in clinical trials for solid tumor cancers[102]. - ImmuneOnco has enrolled 150 patients in a Phase 1 trial of AXN-2510 in China as of June 30, 2025[104]. - The company initiated a Phase 1 clinical trial of AXN-2510 in the U.S. after receiving IND clearance from the FDA in July 2025[106]. - The company plans to pursue additional clinical trials for AXN-2510 in combination with other therapies for advanced solid tumors[105]. Future Outlook - The company expects to continue incurring net losses for the foreseeable future due to ongoing research and development activities[107]. - Axion Bio expects to incur significant expenses in R&D and business development, with future operating expenditures dependent on various factors[150]. - The company plans to fund operations through equity offerings, debt financings, or other capital sources until substantial revenue is generated[157]. Financing and Capital Structure - The company raised net proceeds of $339.0 million in its IPO in the first quarter of 2021, selling 920,000 shares of common stock[140]. - The company has a term loan of $85.6 million with a fixed interest rate of 6.35% per annum, with interest-only payments during the loan term[142]. - The company sold 185,837 shares under its ATM Program for net proceeds of $6.6 million during the nine months ended September 30, 2025[145]. Collaboration and Milestones - Axion Bio made a $10.0 million upfront payment to ImmuneOnco as part of the IO Collaboration Agreement, fully expensed as IPR&D in 2024[151]. - ImmuneOnco is eligible for potential payments of up to $2.1 billion in milestones and royalties on global net sales of licensed products[154]. - Axion Bio achieved IND clearance for a Phase 1 trial of '2510 in June 2025, triggering a $10.0 million development payment[153]. Asset Management - The company plans to sell the Tarzana facility, which could potentially extend its cash runway if successful[149]. - Future minimum lease payments under committed lease agreements were $0.3 million as of September 30, 2025[155].

Financial Performance - As of September 30, 2025, Instil Bio had cash and cash equivalents of $5.8 million, down from $8.8 million as of December 31, 2024, representing a decrease of 34%[3] - The net loss per share for Q3 2025 was $2.01, compared to $3.54 for Q3 2024, indicating an improvement of 43%[6] - Non-GAAP net loss per share for Q3 2025 was $1.75, compared to $2.55 for Q3 2024, showing a decrease of 31%[7] - The company reported a net loss of $13.6 million for Q3 2025, compared to a net loss of $23.0 million for Q3 2024, a reduction of 41%[16] Expenses - Research and development expenses increased to $9.1 million for Q3 2025, compared to $0.6 million in Q3 2024, reflecting a growth of 1417%[4] - General and administrative expenses decreased to $5.9 million for Q3 2025, down from $10.7 million in Q3 2024, a reduction of 45%[5] - Total operating expenses for the nine months ended September 30, 2025, were $69.0 million, compared to $61.7 million for the same period in 2024, an increase of 12%[16] Assets and Cash Flow - Instil Bio's total assets as of September 30, 2025, were $211.8 million, down from $263.6 million as of December 31, 2024, a decline of 20%[14] - Instil Bio expects its current cash resources to fund its operating plan beyond 2026[3] Clinical Trials - The first patient was dosed in a Phase 1 clinical trial evaluating AXN-2510 as monotherapy in patients with advanced solid tumors[2]