Instil Bio Reports Second Quarter 2025 Financial Results and Provides Corporate Update
Rhea-AI Summary
Instil Bio (Nasdaq: TIL) reported its Q2 2025 financial results and corporate updates. The company achieved significant milestones including FDA clearance of the IND application for AXN-2510/IMM2510 in July, with U.S. clinical trial initiation expected by end of 2025. The company appointed Jamie Freedman, M.D., Ph.D., as Chief Medical Officer in June.
Financial position remains strong with $103.6 million in total cash and investments as of June 30, 2025, expected to fund operations beyond 2026. Q2 2025 saw increased R&D expenses of $6.7 million and in-process R&D expenses of $10.0 million. The company reported a non-GAAP net loss per share of $2.88 for Q2 2025.
Positive
- None.
Negative
- Net loss per share increased to $3.24 in Q2 2025 from $2.29 in Q2 2024
- Higher restructuring and impairment charges of $16.6M for H1 2025 vs $4.8M in H1 2024
- R&D expenses increased to $6.7M in Q2 2025 from $2.9M in Q2 2024
News Market Reaction
On the day this news was published, TIL gained 0.52%, reflecting a mild positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $969K to the company's valuation, bringing the market cap to $187M at that time.
Data tracked by StockTitan Argus on the day of publication.
With the clearance of the U.S. IND, initiation of the U.S. clinical trial of AXN-2510/IMM2510 (“‘2510”) anticipated before the end of 2025
Updated ‘2510 monotherapy data in squamous-NSCLC to be presented at IASLC’s 2025 World Conference on Lung Cancer (WCLC) by ImmuneOnco
DALLAS, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Instil Bio, Inc. (“Instil”) (Nasdaq: TIL), a clinical-stage biopharmaceutical company focused on developing a pipeline of novel therapies, today reported its second quarter 2025 financial results and provided a corporate update.
Recent Highlights:
- In June, announced the appointment of Jamie Freedman, M.D., Ph.D., as Chief Medical Officer
- In July, announced the Investigational New Drug (IND) application for ‘2510 was cleared by the U.S. FDA
- In July, ImmuneOnco, Instil’s collaborator, announced preliminary safety and efficacy data from the Phase 2 open-label, multicenter study of ‘2510 in combination with chemotherapy for front-line patients with advanced non-small cell lung cancer (NSCLC) conducted in China by ImmuneOnco
- In August, ImmuneOnco announced that an abstract has been accepted for poster presentation at IASLC’s 2025 World Conference on Lung Cancer (September 6th-9th, 2025), which will provide updated results from additional patients with relapsed/refractory squamous-NSCLC treated with ‘2510 as monotherapy
Second Quarter 2025 Financial and Operating Results:
As of June 30, 2025, Instil had cash, cash equivalents, restricted cash, marketable securities and long-term investments of
In-process research and development expenses were
Research and development expenses were
General and administrative expenses were
Restructuring and impairment charges were
Net loss per share, basic and diluted were
Note Regarding Use of Non-GAAP Financial Measures
In this press release, Instil has presented certain financial information that has not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures include non-GAAP net loss and non-GAAP net loss per share, which are defined as net loss and net loss per share, respectively, excluding non-cash stock-based compensation expense and restructuring and impairment charges. Instil believes that these non-GAAP financial measures, when considered together with the GAAP figures, can enhance an overall understanding of Instil’s financial performance. The non-GAAP financial measures are included with the intent of providing investors with a more complete understanding of Instil’s operating results. In addition, these non-GAAP financial measures are among the indicators Instil’s management uses for planning purposes and to measure Instil’s performance. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The non-GAAP financial measures used by Instil may be calculated differently from, and therefore may not be comparable to, non-GAAP financial measures used by other companies. Please refer to the below reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures.
About Instil Bio
Instil Bio is a clinical-stage biopharmaceutical company focused on developing a pipeline of novel therapies. Instil’s lead asset, AXN-2510, is a novel and differentiated PD-L1xVEGF bispecific antibody in development for the treatment of multiple solid tumors. For more information visit www.instilbio.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” “exploring,” “future,” “intends,” “may,” “plans,” “potential,” “projects,” “targets” and “will” or similar expressions are intended to identify forward-looking statements. Forward-looking statements include express or implied statements regarding our expectations with respect to the therapeutic potential of AXN-2510/IMM2510, clinical development of AXN-2510/IMM2510, including the initiation of clinical trials for AXN-2510/IMM2510 and the generation and presentation of clinical data for AXN-2510/IMM2510 and the timing thereof; research, development, regulatory and clinical plans for AXN-2510/IMM2510; Instil's expectations regarding its capital position, resources, and balance sheet, including its cash runway; and other statements that are not historical fact. Forward-looking statements are based on management's current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements, including risks and uncertainties associated with the costly and time-consuming drug product development process and the uncertainty of clinical success; the risks inherent in relying on collaborators and other third parties, including for manufacturing and generating clinical data, and the ability to rely on any such data from clinical trials in China in regulatory filings submitted to regulatory authorities outside of China; the risks and uncertainties related to successfully making regulatory submissions and initiating, enrolling, completing and reporting data from clinical trials, particularly collaborator-led clinical trials, as well as the risks that results obtained in any clinical trials to date may not be indicative of results obtained in ongoing or future trials and that product candidates may otherwise not be effective treatments in their planned indications; risks related to macroeconomic conditions, including as a result of international conflicts and U.S.-China trade and political tensions, as well as interest rates, inflation, tariffs and other factors, which could materially and adversely affect our business and operations and those of our collaborators; the risks and uncertainties associated with the time-consuming and uncertain regulatory approval process and the sufficiency of Instil's cash resources; and other risks and uncertainties affecting Instil's plans and development programs, including those discussed in the section titled “Risk Factors” in Instil's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 to be filed with the SEC, as well as Instil's other filings with the SEC. These forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements speak only as the date hereof, and Instil disclaims any obligation to update these statements except as may be required by law.
Contacts:
Investor Relations:
1-972-499-3350
investorrelations@instilbio.com
www.instilbio.com
| INSTIL BIO, INC. SELECTED FINANCIAL DATA (Unaudited; in thousands, except share and per share amounts) | ||||||
| Selected Condensed Consolidated Balance Sheet Data | ||||||
| June 30, 2025 | December 31, 2024 | |||||
| Cash, cash equivalents, restricted cash, marketable securities and long-term investments | $ | 103,632 | $ | 115,145 | ||
| Total assets | $ | 230,986 | $ | 263,567 | ||
| Total liabilities | $ | 99,316 | $ | 94,131 | ||
| Total stockholders’ equity | $ | 131,670 | $ | 169,436 | ||
| Condensed Consolidated Statements of Operations | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Operating expenses: | ||||||||||||||||
| In-process research and development | $ | 10,000 | $ | — | $ | 10,000 | $ | — | ||||||||
| Research and development | 6,743 | 2,921 | 12,114 | 10,177 | ||||||||||||
| General and administrative | 6,157 | 10,706 | 15,266 | 23,130 | ||||||||||||
| Restructuring and impairment charges | 540 | 508 | 16,622 | 4,783 | ||||||||||||
| Total operating expenses | 23,440 | 14,135 | 54,002 | 38,090 | ||||||||||||
| Loss from operations | (23,440 | ) | (14,135 | ) | (54,002 | ) | (38,090 | ) | ||||||||
| Interest income | 1,044 | 1,919 | 2,219 | 3,981 | ||||||||||||
| Interest expense | (1,582 | ) | (1,999 | ) | (2,680 | ) | (3,980 | ) | ||||||||
| Other rental income | 2,242 | — | 4,484 | — | ||||||||||||
| Other income (expense), net | 342 | (702 | ) | 385 | (1,130 | ) | ||||||||||
| Net loss | $ | (21,394 | ) | $ | (14,917 | ) | $ | (49,594 | ) | $ | (39,219 | ) | ||||
| Net loss per share, basic and diluted | $ | (3.24 | ) | $ | (2.29 | ) | $ | (7.55 | ) | $ | (6.03 | ) | ||||
| Weighted-average shares used in computing net loss per share, basic and diluted | 6,596,975 | 6,503,913 | 6,564,994 | 6,503,913 | ||||||||||||
| INSTIL BIO, INC. Reconciliation of GAAP to Non-GAAP Net Loss and Net Loss per Share (Unaudited; in thousands, except share and per share amounts) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net loss | $ | (21,394 | ) | $ | (14,917 | ) | $ | (49,594 | ) | $ | (39,219 | ) | ||||
| Adjustments: | ||||||||||||||||
| Non-cash stock-based compensation expense | 1,824 | 4,173 | 5,319 | 8,688 | ||||||||||||
| Restructuring and impairment charges | 540 | 508 | 16,622 | 4,783 | ||||||||||||
| Non-GAAP net loss | $ | (19,030 | ) | $ | (10,236 | ) | $ | (27,653 | ) | $ | (25,748 | ) | ||||
| Net loss per share, basic and diluted | $ | (3.24 | ) | $ | (2.29 | ) | $ | (7.55 | ) | $ | (6.03 | ) | ||||
| Adjustments: | ||||||||||||||||
| Non-cash stock-based compensation expense per share | 0.28 | 0.64 | 0.81 | 1.34 | ||||||||||||
| Restructuring and impairment charges per share | 0.08 | 0.08 | 2.53 | 0.74 | ||||||||||||
| Non-GAAP net loss per share, basic and diluted* | $ | (2.88 | ) | $ | (1.57 | ) | $ | (4.21 | ) | $ | (3.95 | ) | ||||
| Weighted-average shares outstanding, basic and diluted | 6,596,975 | 6,503,913 | 6,564,994 | 6,503,913 | ||||||||||||
| * Non-GAAP net loss per share, basic and diluted may not total due to rounding. | ||||||||||||||||
FAQ
What were Instil Bio's (TIL) key financial metrics for Q2 2025?
What major regulatory milestone did Instil Bio achieve in Q2 2025?
How much cash does Instil Bio have and how long will it last?
Who is Instil Bio's new Chief Medical Officer and when were they appointed?
What upcoming data presentation does Instil Bio have scheduled?
