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. reports clinical and corporate updates for a pipeline of biologic therapeutic candidates developed with protein engineering platforms. The company’s programs include ozekibart (INBRX-109), a tetravalent death receptor 5 agonist antibody studied in oncology indications including chondrosarcoma, colorectal cancer and Ewing sarcoma, and INBRX-106, a hexavalent OX40 agonist evaluated in immuno-oncology settings such as head and neck squamous cell carcinoma.
Company developments commonly cover clinical trial data, regulatory submissions and designations, scientific conference presentations, quarterly and annual financial results, and capital resources. Inhibrx Biosciences also carries a completed corporate history tied to its 2024 separation from Inhibrx, Inc. following the sale of the INBRX-101 program.
Inhibrx, Inc. (Nasdaq: INBX) reported its Q3 2020 financial results, showing a net loss of $20.5 million, or $0.77 per share, slightly worse than the $20.2 million loss in Q3 2019. Cash and cash equivalents increased significantly to $127.7 million from $11.5 million at the end of 2019, bolstered by their recent IPO, which raised $126 million. The company expects multiple clinical data read-outs and new program initiations over the next two years, aided by an amended loan agreement with Oxford Finance LLC that enhances their financial flexibility.
Inhibrx, Inc. (Nasdaq: INBX) announced promising interim results from a Phase 1 clinical trial of INBRX-109, a treatment for chondrosarcoma, an orphan bone cancer. Out of 12 evaluable patients, 92% showed disease control, with 67% experiencing a reduction in tumor burden. Two patients had significant tumor size reductions of 60% and 32%. Favorable safety profiles were noted, with no serious adverse events reported. The company plans future discussions with the FDA for a registration-enabling study in Q2 2021, alongside expanding trials for other cancers.
Inhibrx, a clinical-stage biotechnology company (Nasdaq: INBX), announced its participation in several upcoming investor and scientific conferences. Presentations will occur at the:
- The 29th Annual Credit Suisse Virtual Healthcare Conference on November 12 at 3:30 p.m. ET,
- Jefferies Virtual London Healthcare Conference on November 17 at 2:10 p.m. ET,
- CTOS 2020 Virtual Annual Meeting on November 20 at 9:00 a.m. ET,
- Evercore's Annual Conference on December 3 at 3:30 p.m. ET.
Each event will be available via live webcast on their investor website.
Oxford Finance has closed a $10 million senior secured term loan to Inhibrx (Nasdaq: INBX), a clinical-stage biotech company. This funding, finalized on July 15, 2020, is aimed at supporting Inhibrx's growth as it transitions into a commercial-stage biotechnology firm. Inhibrx is focused on developing innovative biologic therapies, with a pipeline of four Phase 1 clinical trials targeting cancer and respiratory diseases. Oxford previously partnered with Inhibrx, highlighting confidence in its clinical advancements.
Inhibrx, a clinical-stage biotechnology company, has successfully completed its initial public offering (IPO) of 8,050,000 shares, including an over-allotment of 1,050,000 shares, priced at $17.00 per share. This IPO generated approximately $136.9 million in gross proceeds. The stock began trading on the Nasdaq under the symbol INBX on August 19, 2020. Jefferies, Evercore ISI, and Credit Suisse were the joint book-running managers for the offering, with LifeSci Capital serving as co-manager. The prospectus for this offering is available from the managing firms.