Inhibrx Biosciences Announces Loan Agreement with Oxford Finance

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]