Why Are Inhibrx Biosciences Shares Soaring 76% After Hours? - Inhibrx Biosciences (NASDAQ:INBX)

Core Insights - Inhibrx Biosciences Inc. shares experienced a significant increase of 75.95% in after-hours trading, closing at $49.90 after a regular trading session where the stock fell by 10.03% to $28.36 [1][6] Study Results - The company announced positive topline results from the ChonDRAgon study, a Phase 2 trial evaluating ozekibart (INBRX-109) for patients with advanced or metastatic, unresectable chondrosarcoma [2][4] - The study, involving 206 patients, met its primary endpoint, demonstrating a statistically significant improvement in median progression-free survival (PFS) [3] - Ozekibart reduced the risk of disease progression or death by 52% compared to placebo, with a median PFS of 5.52 months versus 2.66 months for placebo [3] Additional Data - Ozekibart is noted as the first experimental therapy to show a progression-free survival benefit in a randomized trial for chondrosarcoma, a cancer lacking approved systemic treatments [4] - Expansion cohort results indicated a 23% overall response rate for ozekibart combined with FOLFIRI in late-line colorectal cancer patients, and a 64% overall response rate when combined with irinotecan and temozolomide in refractory Ewing sarcoma patients [5] Stock Performance - Inhibrx's stock has increased by 84.16% year-to-date, although it has fallen 25.8% from its year-to-date high of $38.22 [6] - The stock has a 52-week range of $10.80 to $39.27 and a market capitalization of $410.81 million [6]