Instil Bio Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Corporate Update

Core Viewpoint - Instil Bio, Inc. is focusing on strategic development through potential acquisitions and in-licensing opportunities to enhance long-term shareholder value and advance innovative therapies for serious diseases [3][8]. Financial Position - As of December 31, 2025, Instil had a total cash position of $76.3 million, which is expected to fund its current operating plan beyond 2027. This is a decrease from $115.1 million as of December 31, 2024 [4][14]. - The cash position includes $6.6 million in cash and cash equivalents, $0.2 million in restricted cash, and $69.5 million in marketable securities [4]. Operating Results - In-process research and development expenses were nil for the fourth quarter of 2025 and $10.0 million for the full year, consistent with the previous year [5]. - Research and development expenses increased to $3.5 million for the fourth quarter and $24.7 million for the full year 2025, compared to $1.1 million and $11.8 million for the same periods in 2024 [5]. - General and administrative expenses decreased to $6.1 million for the fourth quarter and $27.2 million for the full year 2025, down from $10.4 million and $44.2 million in 2024 [6]. - Restructuring and impairment charges were $16.6 million for the full year 2025, compared to $7.5 million in 2024 [7]. Net Loss - The net loss per share for the fourth quarter was $1.21 and $10.70 for the full year 2025, compared to $1.82 and $11.39 for the same periods in 2024 [8][9]. - Non-GAAP net loss per share was $0.97 for the fourth quarter and $6.91 for the full year 2025, compared to $1.08 and $7.59 in 2024 [9][16]. Strategic Focus - The company has discontinued clinical development of AXN-2510 and is focusing on external innovation and disciplined capital deployment to identify high-quality opportunities across several therapeutic areas [8][12].