IN8bio Reports First Quarter 2026 Financial Results and Recent Business Highlights
Rhea-AI Summary
IN8bio (Nasdaq: INAB)/b) reported Q1 2026 results and program updates on May 7, 2026. Key clinical highlights include a reported for repeat-dose GBM patients versus 6.6 months for SOC (+97%) and mOS of 17.2+ months. Cash was $21.9M as of March 31, 2026.
The company advanced its INB-619 γδ T cell engager into IND-enabling studies with initial animal data expected in 2026 and will present updated mOS data at ASCO 2026.
Positive
- mPFS +97% (13.0 vs 6.6 months SOC)
- mOS 17.2+ months reported for repeat-dose GBM patients
- Cash $21.9M as of March 31, 2026
Negative
- Net loss of $5.1M in Q1 2026
- R&D spend declined to $2.6M in Q1 2026
News Market Reaction – INAB
In the May 8 session, INAB declined 1.25%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 12 | Q4 2025 earnings | Positive | -1.1% | Full-year 2025 results with GBM data and strengthened cash via private placement. |
| Nov 06 | Q3 2025 earnings | Positive | -6.6% | Q3 2025 update and new INB-619 preclinical data plus GBM trial expansion. |
| Aug 07 | Q2 2025 earnings | Positive | +7.4% | Q2 2025 results with strong GBM survival metrics and INB-619 lupus data. |
| May 07 | Q1 2025 earnings | Positive | +2.1% | Q1 2025 results featuring INB-100 AML durability and INB-600 data. |
| Mar 13 | FY 2024 earnings | Positive | -0.4% | Q4 and 2024 update with AML and GBM data plus detailed expense profile. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings updates often highlight clinical and financial progress, yet three of the last five such releases were followed by negative 24h moves, suggesting a tendency toward post-earnings selling.
Across the last five earnings-tagged releases from March 2025 through March 2026, IN8bio repeatedly paired gamma-delta T cell clinical progress with updates on cash and expenses. Prior results included GBM survival data, INB-619 preclinical strength, and balance sheet extensions into 2026–2027. Market reactions were mixed, with both sizable gains and declines. Today’s Q1 2026 report, combining GBM durability data and a higher cash balance, fits the pattern of clinically constructive but market-volatile earnings events.
Key Terms
γδ t cell medical
t cell engagers (tces) medical
cytokine release syndrome (crs) medical
il-6 medical
tnf-α medical
icans medical
ind-enabling studies regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Advancing next-generation γδ T cell engager platform with initial animal data expected in 2026
- Reported glioblastoma (GBM) data showing ~
97% improvement in progression-free survival vs. standard-of-care; updated median overall survival (mOS) data to be presented at ASCO 2026 - Hosting R&D Day on May 21, 2026 in New York City
NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) -- IN8bio, Inc. (Nasdaq: INAB), a clinical-stage biopharmaceutical company developing innovative gamma-delta (γδ) T cell therapies and γδ T cell engagers (TCEs) for cancer and autoimmune diseases, today reported financial results and business highlights for the first quarter ended March 31, 2026.
“In the first quarter of 2026, we continued to advance our next-generation TCE platform and clinical programs,” said William Ho, Chief Executive Officer and co-founder of IN8bio. “Our encouraging GBM data positions us to engage the FDA on potential regulatory pathways forward, and we expect to deliver meaningful preclinical, regulatory and clinical milestones across our pipeline this year. As industry interest in novel TCEs accelerates, our next-generation platform is designed to address the key challenges in TCE development. We believe IN8bio is well positioned to create meaningful value for patients and shareholders in 2026 and beyond. We look forward to sharing further updates across our programs at our upcoming R&D Day in New York City on May 21, 2026.”
Key Highlights
Advancing Next-Generation Gamma-Delta T Cell Engager Platform (INB-619)
- Continued to advance our internally developed INB-600 platform of novel γδ T cell engagers, designed to potently eliminate targets such as CD19, potentially reduce toxicities such as cytokine release syndrome (CRS) and widen the therapeutic window over traditional CD3-targeting engagers.
- Presented encouraging preclinical data for INB-619, a CD19-targeting γδ T cell engager for oncology and autoimmune diseases. The data showed complete B cell depletion, robust γδ T cell expansion, and minimal CRS-associated cytokine release (IL-6, TNF-α), reinforcing the platform’s differentiation and therapeutic potential.
- Progressing INB-619 into IND-enabling studies, with initial animal data expected in 2026.
Presented Clinical Data Demonstrating Durable Survival Improvements in Newly Diagnosed Glioblastoma
In January 2026, IN8bio reported updated data as of December 31, 2025, from its Phase 1 (INB-200) and Phase 2 (INB-400) clinical trials evaluating DeltEx drug resistant immunotherapy (DRI) γδ T cells in patients with newly diagnosed GBM. The data included a concurrent standard-of-care (SOC) control group enrolled at the same time and clinical sites as treated patients.
- Median progression-free survival (mPFS) for repeat dose patients was 13.0 months versus 6.6 months for SOC patients (+
97% improvement). - Median overall survival (mOS) in repeat dose patients is still climbing, currently at 17.2+ months as of December 31, 2025, surpassing the 13.2-months for the SOC control arm.
- Several patients remained progression-free beyond two years, including one grade 4, IDH-mutant glioma patient who remains progression-free with no additional therapy for more than 4.5 years.
- No dose-limiting toxicities (DLTs), cytokine release syndrome (CRS), neurotoxicity (ICANS), tumor inflammation-associated neurotoxicity (TIAN) or other unexpected severe adverse events were reported.
- Updated mOS results to be presented at the American Society of Clinical Oncology (ASCO) 2026 Annual Meeting (Abstract 2077, Poster 442) on June 1, from 1:30 - 4:30 p.m. CDT.
IN8bio Research & Development Day 2026
- IN8bio will host its R&D Day on May 21, 2026 (9:00 - 11:30 a.m. EDT), in New York City.
- The event will feature presentations on the Company’s γδ TCE platform targeting oncology and autoimmune diseases.
- The Company will also provide updates on its clinical program in GBM, including a clinical perspective from renowned neuro-oncologist Dr. David Reardon, Director, Center for Neuro-Oncology at the Dana-Farber Cancer Institute and Professor of Medicine at Harvard Medical School.
- Register Online: https://investors.in8bio.com/news-events/events-presentations.
Upcoming Conferences & Anticipated Milestones
International Society for Cell & Gene Therapy (ISCT) 2026 Annual Meeting (Dublin, Ireland)
- Title: Unraveling Complexity: The Impact, Interactions and Outcomes of a γδ T Cell Therapy in Glioblastoma
Poster Details: 1253
Date/Time: May 7, 2026, 18:00 to 19:30 GMT (1:00 - 2:30 p.m. EDT)
- Title: Lean Infrastructure for CGT Early-Stage Companies: Leveraging Integrated Digital Platforms to Achieve Sustainable Operation Efficiency and Scalable Compliance
Poster Details: 801
Date/Time: May 7, 2026, 18:00 to 19:30 GMT (1:00 - 2:30 p.m. EDT)
American Society of Gene & Cell Therapy (ASGCT) 2026 Annual Meeting (Boston, MA)
- Title: Challenging the Glioblastoma Status Quo: Could γδ T Cells Shift the Balance?
Abstract: 328
Date and Time: May 14, 2026, 11:00 - 11:15 a.m. EDT
Anticipated Milestones
- Guidance from the FDA on potential accelerated regulatory pathways for GBM program in 2H26.
- Publication of Phase 1 INB-200 clinical data in newly diagnosed GBM patients in a peer-reviewed journal.
- Additional GBM clinical updates, including updated mOS data at ASCO 2026.
- Initial TCE preclinical animal data and additional IND-enabling data for INB-619 in 2H26.
- Completion of INB-100 patient dosing and presentation of long-term follow-up results at a medical meeting in late 2026.
First Quarter 2026 Financial Highlights
- Cash position: As of March 31, 2026, the Company had cash of
$21.9 million , compared with$11.9 million , for the comparable prior year period. - Research and Development (R&D) expenses: R&D expenses were
$2.6 million for the three months ended March 31, 2026, compared with$3.0 million for the comparable prior year period. These amounts include non-cash items such as stock-based compensation (SBC) and depreciation. The decrease primarily reflects lower clinical trial activity in the INB-400 program. - General and administrative (G&A) expenses: G&A expenses were
$2.7 million for the three months ended March 31, 2026, compared with$2.7 million for the comparable prior year period. These amounts include non-cash items such as stock-based compensation (SBC) and depreciation. - Net loss: The Company reported a net loss of
$5.1 million , or$0.26 per basic and diluted common share, for the three months ended March 31, 2026, compared with a net loss of$5.6 million , or$2.16 per basic and diluted common share, for the comparable prior year period.
About IN8bio
IN8bio is a clinical-stage biopharmaceutical company developing γδ T cell and γδ T cell engager (TCE) product candidates to address unmet medical needs. γδ T cells are a specialized population of T cells that possess unique properties, including the ability to differentiate between healthy and diseased tissue. The Company’s pipeline is anchored by INB-600, a novel γδ T cell engager platform with potential applications across oncology and autoimmune indications. IN8bio is also advancing INB-100, an allogeneic γδ T cell candidate for adult patients with high-risk leukemias undergoing haploidentical stem cell transplantation, and INB-200/400, an autologous genetically modified γδ T cell candidate for newly diagnosed glioblastoma (GBM). For more information about IN8bio, visit www.IN8bio.com.
Forward Looking Statements
This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding: the therapeutic potential of IN8bio’s product candidates; the potential of repeat-dose γδ T cell therapy to meaningfully improve outcomes in newly diagnosed glioblastoma; the potential of IN8bio’s INB-600 platform to improve durability and safety compared with traditional CD3-targeting engagers; IN8bio’s ability to achieve anticipated milestones, including receipt of guidance from the FDA on regulatory pathways, expected presentations and data readouts from its preclinical studies and clinical trials, patient dosing timelines and advancement of clinical development plans; the milestone-driven closing of the private placement and the use of proceeds from the private placement; IN8bio’s cash runway; and other statements that are not historical fact. IN8bio may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including: risks to site initiation, clinical trial commencement, patient enrollment and follow-up, as well as IN8bio’s ability to meet anticipated deadlines and milestones; uncertainties inherent in the initiation and completion of preclinical studies and clinical trials and clinical development of IN8bio’s product candidates; the risk that IN8bio may be unable to raise additional capital and could be forced to delay, further reduce or to explore other strategic options for certain of its development programs, or even terminate its operations; IN8bio’s ability to continue to operate as a going concern; the risk that IN8bio may not realize the intended benefits of its DeltEx platform and TCE program; availability and timing of results from preclinical studies and clinical trials; whether the outcomes of preclinical studies will be predictive of clinical trial results; whether initial or interim results from a clinical trial will be predictive of the final results of the trial or the results of future trials; the risk that trials and studies may be delayed and may not have satisfactory outcomes; potential adverse effects arising from the testing or use of IN8bio’s product candidates; the uncertainty of regulatory approvals to conduct trials or to market products; IN8bio’s reliance on third parties, including licensors and clinical research organizations; and other important factors, any of which could cause IN8bio’s actual results to differ from those contained in the forward-looking statements, which are described in greater detail in the section entitled “Risk Factors” in IN8bio’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 12, 2026, as well as in other filings IN8bio may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and IN8bio expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.
| IN8BIO, INC. BALANCE SHEETS (In thousands, except share and per share data) | ||||||||
| March 31, | ||||||||
| 2026 | December 31, | |||||||
| (unaudited) | 2025 | |||||||
| Assets | (Note 2) | |||||||
| Current assets | ||||||||
| Cash | $ | 21,941 | $ | 27,092 | ||||
| Prepaid expenses and other current assets | 721 | 788 | ||||||
| Total Current Assets | 22,662 | 27,880 | ||||||
| Non-current assets | ||||||||
| Property and equipment, net | 1,622 | 1,858 | ||||||
| Restricted cash | 220 | 220 | ||||||
| Right-of-use assets - finance leases | 188 | 296 | ||||||
| Right-of-use assets - operating leases | 1,444 | 1,882 | ||||||
| Other non-current assets | 129 | 146 | ||||||
| Total Non-Current Assets | 3,603 | 4,402 | ||||||
| Total Assets | $ | 26,265 | $ | 32,282 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Liabilities | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 449 | $ | 309 | ||||
| Accrued expenses and other current liabilities | 681 | 1,633 | ||||||
| Short-term finance lease liability | 189 | 295 | ||||||
| Short-term operating lease liability | 839 | 924 | ||||||
| Total Current Liabilities | 2,158 | 3,161 | ||||||
| Long-term operating lease liability | 1,326 | 1,563 | ||||||
| Total Non-Current Liabilities | 1,326 | 1,563 | ||||||
| Total Liabilities | 3,484 | 4,724 | ||||||
| Stockholders' Equity | ||||||||
| Preferred stock, par value | — | — | ||||||
| Common stock, par value | 10 | 10 | ||||||
| Additional paid-in capital | 168,957 | 168,644 | ||||||
| Accumulated deficit | (146,186 | ) | (141,096 | ) | ||||
| Total Stockholders' Equity | 22,781 | 27,558 | ||||||
| Total Liabilities and Stockholders' Equity | $ | 26,265 | $ | 32,282 | ||||
| IN8BIO, INC. STATEMENTS OF OPERATIONS (In thousands, except share and per share data) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Operating expenses: | ||||||||
| Research and development | $ | 2,613 | $ | 2,972 | ||||
| General and administrative | 2,653 | 2,688 | ||||||
| Total operating expenses | 5,266 | 5,660 | ||||||
| Interest income | 176 | 110 | ||||||
| Loss from operations | (5,090 | ) | (5,550 | ) | ||||
| Net loss | $ | (5,090 | ) | $ | (5,550 | ) | ||
| Net loss per share – basic and diluted | $ | (0.26 | ) | $ | (2.16 | ) | ||
| Weighted-average number of shares used in computing net loss per common share, basic and diluted | 19,467,114 | 2,575,325 | ||||||
Investors & Company Contacts:
IN8bio, Inc.
Patrick McCall
646.933.5603
pfmccall@IN8bio.com
Media Contact
Kimberly Ha
KKH Advisors
917.291.5744
kimberly.ha@kkhadvisors.com
