Welcome to our dedicated page for Inhibrx Biosciences news (Ticker: INBX), a resource for investors and traders seeking the latest updates and insights on Inhibrx Biosciences stock.
Inhibrx Biosciences, Inc. (NASDAQ: INBX) is a clinical-stage biopharmaceutical company whose news flow centers on the development of its biologic therapeutic candidates ozekibart (INBRX-109) and INBRX-106. The company’s press releases and SEC reports describe ongoing clinical trials in solid tumors, including chondrosarcoma, colorectal cancer, Ewing sarcoma, head and neck squamous cell carcinoma, and non-small cell lung cancer.
On this page, readers can follow company-issued updates on key clinical milestones, such as topline and interim data from the registrational ChonDRAgon study of ozekibart in unresectable or metastatic conventional chondrosarcoma and expansion cohorts in colorectal cancer and Ewing sarcoma. Inhibrx Biosciences also reports on progress in its INBRX-106 Phase 2/3 trial in combination with pembrolizumab in head and neck squamous cell carcinoma and its Phase 1/2 trial in checkpoint inhibitor refractory or relapsed non-small cell lung cancer.
News items further cover financial results, capital arrangements, and corporate developments following the company’s spin-off from Inhibrx, Inc. and the sale of the INBRX-101 program to Sanofi S.A. Investors and observers can review earnings releases, descriptions of research and development spending, and commentary on the company’s clinical and regulatory plans.
Because Inhibrx Biosciences focuses on oncology and, in some communications, rare diseases, its announcements often highlight data from difficult-to-treat patient populations and regulatory designations, such as Fast Track and orphan drug status for ozekibart in chondrosarcoma. Bookmark this news feed to access the company’s own descriptions of trial outcomes, conference presentations, and other material events as they are disclosed.
Inhibrx Biosciences (Nasdaq: INBX) has secured a five-year term loan facility of up to $150 million through a loan and security agreement with Oxford Finance The company received an initial term loan of $100 million on January 13, 2025, with an additional $50 million available subject to lenders' discretion.
The agreement includes interest-only payments until March 2028. As part of the deal, Inhibrx issued warrants to purchase 140,741 shares of common stock at $14.21 per share, representing 2% of the initial term loan value. Additional warrants will be issued with any future funding.
The financing aims to provide strategic flexibility for Inhibrx's INBRX-109 and INBRX-106 programs, which are currently in clinical trials with data readouts expected later in 2025.
Inhibrx Biosciences (INBX) reported Q3 2024 financial results, showing a net loss of $43.9 million ($2.84 per share) compared to $51.8 million ($4.39 per share) in Q3 2023. The company held cash and equivalents of $196.3 million as of September 30, 2024, down from $226.9 million in June 2024. R&D expenses increased to $38.9 million from $38.1 million year-over-year, mainly due to expanded clinical trials. G&A expenses remained stable at $7.9 million. The company has two ongoing clinical programs with expected data readouts within 12 months.
Inhibrx (Nasdaq: INBX) has won a significant legal victory in a trade secrets case brought by I-Mab Biopharma in the United States District Court for the District of Delaware. The jury rejected all allegations of misappropriation that were filed on March 1, 2022, against Inhibrx and its Chief Scientific Officer, Brendan Eckelman, Ph.D. The lawsuit had claimed improper access and use of proprietary information during a prior arbitration proceeding where Dr. Eckelman served as an expert witness. The verdict validates Inhibrx's independent development processes and ethical conduct in advancing its therapeutic innovations.
Inhibrx Biosciences (Nasdaq: INBX) reported its Q2 2024 financial results and corporate highlights. Key points include:
1. Completion of separation from Former Parent on May 30, 2024
2. Cash and cash equivalents of $226.9 million as of June 30, 2024
3. R&D expenses increased to $67.6 million in Q2 2024
4. G&A expenses rose to $93.4 million in Q2 2024
5. Net income of $1.9 billion in Q2 2024, or $127.10 per share (basic)
The company now operates as a stand-alone entity focused on two clinical programs: ozekibart (INBRX-109) and INBRX-106.
Inhibrx announced that its stockholders have approved the sale of INBRX-101 to Sanofi. INBRX-101 is an augmentation therapy for alpha-1 antitrypsin deficiency (AATD). Before the sale, all non-101 assets and liabilities will be spun out into a new publicly traded company, New Inhibrx. Sanofi will acquire all outstanding shares of Inhibrx through a merger, offering $30 per share in cash and a contingent value right of $5 per share. Additionally, stockholders will receive one share of New Inhibrx for every four shares of Inhibrx common stock. Sanofi will also assume and retire Inhibrx's debt, and New Inhibrx will receive at least $200 million in cash. The transactions are expected to close soon, leading to Inhibrx's delisting from Nasdaq and cessation of SEC filings.
Inhibrx, Inc. announced an updated when-issued trading date for the anticipated spin-off of its subsidiary Inhibrx Biosciences, Inc. The spin-off will occur after the approval of the Company's acquisition by Sanofi at a special meeting on May 24, 2024. The trading of SpinCo common stock is expected to begin on a when-issued basis on May 28, 2024, under the symbol 'INXB.' The record date for the spin-off is May 17, 2024, with the distribution scheduled for May 29, 2024. The completion of the spin-off and merger is subject to closing conditions noted in the Company's Definitive Proxy Statement.
Inhibrx, Inc. has announced a record date set for May 17, 2024, for the distribution of 92% of shares of its subsidiary, Inhibrx Biosciences, Inc., to its common stockholders. The distribution is expected to occur on May 29, 2024, followed by the closing of the acquisition by Sanofi on May 30, 2024. Shareholders will receive one share of SpinCo common stock for every four shares of Inhibrx common stock held. Trading under the symbol 'INBX' will entitle shareholders to the distribution, with SpinCo common stock trading under 'INXB' until the completion of the distribution.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the current stock price of Inhibrx Biosciences (INBX)?
What is the market cap of Inhibrx Biosciences (INBX)?
