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, Inc. (Nasdaq: INBX) reported its Q1 2022 financial results and corporate updates on May 9, 2022. The company reported cash and equivalents of $143.5 million, an increase from $131.3 million at year-end 2021. R&D expenses rose to $24.9 million, compared to $16.4 million in Q1 2021. General and administrative expenses also increased to $5.1 million. The net loss for Q1 2022 was $31.3 million ($0.80 per share), up from $19.3 million ($0.51 per share) in Q1 2021. Recent highlights include FDA orphan-drug designation for INBRX-101 and a $130 million loan agreement amendment.
Inhibrx, Inc. (Nasdaq: INBX) announced the establishment of a Scientific Advisory Board (SAB) for its clinical program INBRX-101, aimed at treating alpha-1 antitrypsin deficiency (AATD). The board consists of leading experts in AATD, who will collaborate with Inhibrx's management to advance INBRX-101 towards regulatory approval. The drug has shown promise as a potentially best-in-class treatment, addressing a significant unmet need in AATD, which affects about 100,000 patients in the U.S. Current standard treatments require inconvenient weekly dosing, while INBRX-101 may allow for monthly administration.
Inhibrx (Nasdaq: INBX) announced that late-breaking data on INBRX-101 will be presented at the American Thoracic Society (ATS) 2022 Conference from May 13-18, 2022, in San Francisco, CA. The oral presentation, led by Mark Brantly, focuses on a novel recombinant AAT-Fc fusion protein for patients with Alpha-1 Antitrypsin Deficiency (AATD). It will occur on May 16, while a related poster presentation will take place on May 17. AATD affects about 100,000 individuals in the US, leading to serious lung issues. INBRX-101 has shown promising early results in an ongoing Phase 1 trial.
Inhibrx, Inc. (Nasdaq: INBX) announced the presentation of data from its clinical programs INBRX-121 and INBRX-130 at the 2022 AACR Annual Meeting, scheduled from April 8-13, 2022, in New Orleans, LA. INBRX-121 enhances NK cell tumor killing, while INBRX-130 is a bispecific antibody targeting 5T4 antigen on solid tumors. Both platforms aim to expand Inhibrx's oncology pipeline and improve treatment outcomes. Posters will be available on-demand from April 8 to July 13, 2022, on AACR's website and Inhibrx's site.
Inhibrx, Inc. (Nasdaq: INBX) announced that the FDA has granted orphan-drug designation for INBRX-101 to treat alpha-1 antitrypsin deficiency (AATD). This designation acknowledges the unmet medical need for new therapies in AATD, which affects approximately 100,000 patients in the U.S. INBRX-101 is designed for once-monthly dosing and aims to improve AAT levels significantly. Orphan designation offers benefits, including financial incentives and potential seven years of market exclusivity upon approval, enhancing Inhibrx's position in the biotech sector.
Inhibrx, Inc. (Nasdaq: INBX) reported its financial results for Q4 and FY 2021, highlighting a net loss of $21.2 million for Q4, or $0.55 per share, compared to $17.6 million in Q4 2020. The annual net loss increased to $81.8 million, or $2.15 per share, from $76.1 million in FY 2020. The company had cash and equivalents of $131.3 million as of December 31, 2021. Recent highlights include FDA orphan-drug designation for INBRX-109 and initial Phase 1 results for INBRX-106, now expected to announce further data in H2 2022.
Inhibrx, Inc. (Nasdaq: INBX) has amended its loan agreement with Oxford Finance, enhancing its financial flexibility amid a challenging equity market. The amendment allows for up to $130 million in new term loans, with $40 million available immediately and additional funding contingent upon key clinical trial developments. The revised terms extend loan maturity to January 2027 at an interest rate of 8.19%. This deal strengthens Inhibrx's balance sheet and supports ongoing clinical programs, including INBRX-105 and INBRX-101.
Inhibrx, Inc. (Nasdaq: INBX) announced initial results from Part 3 of a Phase 1 trial of INBRX-106, a hexavalent OX40 agonist combined with Keytruda®, for treating solid tumors. 21 patients participated, with a maximum tolerated dose identified at 0.1 mg/kg. Initial findings indicated two durable partial responses and tumor volume reductions in additional cases. The trial also highlighted the notable tolerability of the combination therapy. Inhibrx expressed optimism regarding the clinical translatability of preclinical data.
Inhibrx, Inc. (Nasdaq: INBX) announced the FDA has granted orphan-drug designation for INBRX-109, targeting metastatic chondrosarcoma, a rare bone cancer with no approved therapies. This designation offers financial incentives for clinical development and up to seven years of market exclusivity. Preliminary results from a Phase 1 trial show disease control in 89% of evaluable patients and a median progression-free survival of 7.4 months. The company is advancing its Phase 2 trial aiming for registration. Inhibrx's strategy focuses on innovative therapies for oncology and orphan diseases.
Inhibrx, Inc. (Nasdaq: INBX) reported a net loss of $20.6 million for Q3 2021, equating to $0.54 per share, a slight decrease from $20.5 million in the same quarter last year. Total revenue for Q3 was $2.5 million, down from $5.9 million year-over-year. Cash and cash equivalents increased to $141.1 million as of November 9, 2021, from $112.7 million at the end of Q3. The company announced interim Phase 1 trial results for INBRX-101, showing potential to normalize AAT levels in patients with AAT deficiency, and appointed key executives to bolster its operations.
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