Instil Bio Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update

Core Insights - Instil Bio, Inc. reported its fourth quarter and full year 2024 financial results, highlighting a significant decrease in total cash and marketable securities from $175.0 million in 2023 to $115.1 million in 2024, while indicating that this cash position is expected to fund operations beyond 2026 [3][10] Clinical Development Updates - ImmuneOnco is expected to provide clinical data for AXN-2510/IMM2510 monotherapy in relapsed/refractory non-small cell lung cancer (NSCLC) in the first half of 2025, along with safety data from approximately 100 patients treated across multiple solid tumors [7][10] - Enrollment of first-line NSCLC patients in a trial of AXN-2510/IMM2510 in combination with chemotherapy in China is anticipated to begin in Q2 2025, with initial clinical data expected in the second half of 2025 [7][10] - A U.S. clinical study of AXN-2510/IMM2510 in combination with chemotherapy for first-line NSCLC patients is anticipated to commence before the end of 2025, pending necessary regulatory approvals [7][10] Financial Performance - In-process research and development expenses were reported as nil for the fourth quarter of 2024, while total research and development expenses decreased to $11.8 million from $39.6 million in 2023 [4] - General and administrative expenses slightly decreased to $44.2 million in 2024 from $47.6 million in 2023 [5] - Restructuring and impairment charges were reported at $7.5 million for the full year 2024, down from $72.0 million in 2023 [6] - The net loss per share for the fourth quarter of 2024 was $1.82, an improvement from $1.99 in the same quarter of 2023, while the full year net loss per share was $11.39 compared to $24.00 in 2023 [7][8]