Instil Bio Reports Second Quarter 2025 Financial Results and Provides Corporate Update

Core Viewpoint - Instil Bio, Inc. is advancing its clinical-stage biopharmaceutical pipeline, particularly focusing on AXN-2510/IMM2510, with significant financial updates and clinical trial developments expected in the near future [1][3]. Financial Overview - As of June 30, 2025, Instil reported total cash and investments of $103.6 million, a decrease from $115.1 million at the end of 2024, indicating a cash runway that extends beyond 2026 [3][13]. - In-process research and development expenses were $10.0 million for both the three and six months ended June 30, 2025, compared to zero in the same periods of 2024 [4]. - Research and development expenses increased to $6.7 million and $12.1 million for the three and six months ended June 30, 2025, respectively, up from $2.9 million and $10.2 million in 2024 [4]. - General and administrative expenses decreased to $6.2 million and $15.3 million for the three and six months ended June 30, 2025, respectively, compared to $10.7 million and $23.1 million in 2024 [5]. - The net loss per share for the three and six months ended June 30, 2025, was $3.24 and $7.55, respectively, compared to $2.29 and $6.03 in 2024 [6][15]. Clinical Developments - The U.S. FDA cleared the Investigational New Drug (IND) application for AXN-2510 in July 2025, with clinical trials anticipated to begin before the end of 2025 [1][8]. - ImmuneOnco, a collaborator, announced preliminary safety and efficacy data from a Phase 2 study of AXN-2510 in combination with chemotherapy for advanced non-small cell lung cancer (NSCLC) [8]. - Updated monotherapy data for AXN-2510 in squamous-NSCLC is set to be presented at the IASLC's 2025 World Conference on Lung Cancer [1][8]. Company Background - Instil Bio is focused on developing novel therapies, with AXN-2510 being a key asset, a PD-L1xVEGF bispecific antibody aimed at treating multiple solid tumors [10].