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

Core Insights - Instil Bio, Inc. has initiated a Phase 1 clinical trial for AXN-2510/IMM2510, targeting adult patients with advanced solid tumors [1][8] - The company reported a decrease in cash reserves from $115.1 million at the end of 2024 to $83.4 million as of September 30, 2025, but expects to fund operations beyond 2026 [3] - Research and development expenses increased significantly, with $9.1 million for Q3 2025 compared to $0.6 million in Q3 2024 [4] - General and administrative expenses decreased to $5.9 million in Q3 2025 from $10.7 million in Q3 2024 [5] - The net loss per share improved slightly to $2.01 for Q3 2025 from $3.54 in Q3 2024 [6] Financial Performance - As of September 30, 2025, total assets were $211.8 million, down from $263.6 million at the end of 2024 [13] - Total liabilities were $91.3 million, a slight decrease from $94.1 million at the end of 2024 [13] - Total stockholders' equity decreased from $169.4 million at the end of 2024 to $120.4 million as of September 30, 2025 [13] - The company reported a net loss of $13.6 million for Q3 2025, compared to a net loss of $23.0 million in Q3 2024 [15] Research and Development Updates - Instil's collaborator, ImmuneOnco, presented updated data on '2510 for relapsed/refractory squamous non-small cell lung cancer at a major conference [8] - The first patient was dosed in a Phase 1 clinical trial of '2510 as monotherapy for relapsed or refractory solid tumors in October 2025 [8][10]