Inhibrx Biosciences Inc SEC Filings

Inhibrx Biosciences (INBX) filed its Q3 2025 report, showing steady cash and ongoing investment in its pipeline. Cash and cash equivalents were $153.1 million as of September 30, 2025, with management stating this should fund operations for at least 12 months. The company reported a net loss of $35.3 million for the quarter and $107.2 million year to date. Year‑to‑date revenue was $1.3 million from a Scithera license.

Operating expenses decreased versus the prior year period, with research and development at $87.7 million year to date (vs. $170.4 million in 2024) and general and administrative at $17.7 million (vs. $111.2 million in 2024, which included merger-related items). Long‑term debt was $99.9 million, reflecting the $100.0 million term loan entered on January 13, 2025; interest expense was $9.0 million year to date.

The pipeline advanced: ozekibart (INBRX‑109) met its Phase 2 primary endpoint in chondrosarcoma, more than doubling median PFS to 5.52 months versus 2.66 months for placebo (hazard ratio 0.479; P<0.0001). Shares outstanding were 14,498,093 as of September 30, 2025.

Inhibrx Biosciences (INBX) reported positive topline results from its registrational ChonDRAgon study (n=206) of ozekibart (INBRX-109) in advanced or metastatic, unresectable chondrosarcoma. The trial met its primary endpoint, showing a 52% reduction in risk of progression or death versus placebo (HR 0.479; P<0.0001) and more than doubling median progression-free survival to 5.52 months vs 2.66 months. Disease control rate was 54% vs 27.5%, with consistent benefit across IDH subgroups.

Safety was generally manageable; common events included fatigue, constipation, and nausea. Hepatotoxicity risk was addressed via exclusion of severe hepatic impairment and early-cycle monitoring; treatment-related hepatic adverse events occurred in 11.8% vs 4.5% on placebo.

In expansion cohorts, ozekibart plus FOLFIRI in late-line colorectal cancer showed 23% ORR and 92% disease control (26 evaluable). In refractory Ewing sarcoma with IRI/TMZ, ORR was 64% and disease control 92% (25 evaluable). Inhibrx plans a BLA submission in Q2 2026 and will present detailed data on November 14, 2025 at CTOS.

Viking Global and affiliated entities reported multiple sales of Inhibrx Biosciences, Inc. (INBX) common stock executed on 10/07/2025 at a price of $32.25 per share. The largest single reported sale was 308,643 shares, plus additional sales of 25,042 and 16,315 shares, reducing reported holdings across the reporting group to 1,267,823, 102,864 and 67,018 shares respectively depending on the specific vehicle or account. The filing lists multiple related reporting persons and entities that may be deemed to beneficially own the shares through fund and GP relationships, and includes the standard disclaimer limiting beneficial ownership claims to pecuniary interest. The Form 4 is a joint filing signed by Scott M. Hendler on behalf of the reporting persons.

Inhibrx Biosciences, Inc. furnished a press release announcing its financial results for the three and six months ended June 30, 2025. The press release is furnished as Exhibit 99.1 to this Current Report and an interactive XBRL cover page is included as Exhibit 104.

The company states the information in Item 2.02, including Exhibit 99.1, is furnished and not deemed "filed" for purposes of Section 18 of the Exchange Act, so it is subject to different legal treatment than filed disclosures. The report confirms Inhibrx's Nasdaq listing under the ticker INBX and indicates the registrant is an emerging growth company.

Inhibrx Biosciences reported a materially different quarter versus the prior-year period driven by the post‑spin financial position and new financing. Revenue was $1.3 million for the quarter from a Scithera license, while operating expenses were $28.7 million leading to an operating loss of $27.4 million and a net loss of $28.654 million for the three months ended June 30, 2025. The prior-year period included a $2.02 billion gain related to the Merger with the Former Parent, which produced the large net income figure in 2024.

The balance sheet shows $186.6 million cash and equivalents and total assets of $212.1 million, with accumulated deficit of $178.1 million. The company established long-term debt under a 2025 Loan Agreement with Oxford resulting in long-term debt, net of discount, of $99.3 million. Management states existing cash is sufficient to fund operations for at least 12 months. Clinically, the company continues development of ozekibart (INBRX-109) and INBRX-106, and completed full enrollment in its registration‑enabling chondrosarcoma trial in July 2025.