Inhibrx Reports Fourth Quarter and Fiscal Year 2025 Financial Results

Core Insights - Inhibrx Biosciences reported its financial results for the fourth quarter and fiscal year 2025, highlighting a significant transition following the sale of INBRX-101 to Sanofi and the spin-off of Inhibrx as an independent entity [1] Financial Results - As of December 31, 2025, Inhibrx had cash and cash equivalents of $124.2 million, a decrease from $152.6 million in 2024 [4] - The company received gross proceeds of $75.0 million from a loan agreement on March 18, 2026 [4] - Research and development expenses for fiscal year 2025 were $113.0 million, down from $203.7 million in 2024, primarily due to reduced clinical trial costs and contract manufacturing expenses [5][7] - General and administrative expenses decreased to $23.3 million in 2025 from $127.9 million in 2024, attributed to one-time expenses related to the 101 Transaction [5][7] - The net loss for fiscal year 2025 was $140.1 million, or $9.04 per share, compared to a net income of $1.7 billion in 2024 [13][17] - The net loss for the fourth quarter of 2025 was $32.8 million, or $2.11 per share, an improvement from a net loss of $47.9 million in the same quarter of 2024 [13][17] Upcoming Milestones - The company plans to meet with the FDA in the second half of 2026 to discuss accelerated approval for Ewing Sarcoma and fourth-line colorectal cancer [6] - Progression-free survival (PFS) data for the Phase 1/2 colorectal cancer expansion cohort is expected to be announced in the second quarter of 2026 [6] - A Biologics License Application (BLA) for ozekibart is anticipated to be submitted to the FDA early in the second quarter of 2026 [6] - Interim objective response rate (ORR) data from the randomized Phase 2/3 trial in head and neck squamous cell carcinoma (HNSCC) in combination with pembrolizumab is expected in the second quarter of 2026 [6] - Additional PFS data from the HNSCC trial is planned for announcement at the ESMO 2026 Congress in the fourth quarter of 2026 [6] Company Overview - Inhibrx is a clinical-stage biopharmaceutical company focused on developing novel biologic therapeutic candidates, utilizing advanced protein engineering methods [11] - The company was incorporated in January 2024 as a wholly-owned subsidiary of Inhibrx, Inc., following a series of restructuring transactions [11]