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Inhibrx Biosciences, Inc. (INBX) is a clinical-stage biopharmaceutical company specializing in the development of innovative biologic therapeutic candidates. The company utilizes proprietary modular protein engineering platforms to create therapies with enhanced attributes and mechanisms, targeting challenging and validated disease areas. INBX's primary focus is on advancing its oncology pipeline, with a goal of addressing unmet medical needs and transitioning into a commercial-stage biopharmaceutical company.
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INBRX-109 - A tetravalent death receptor 5 (DR5) agonist under investigation for treating various cancers, including colorectal and gastric adenocarcinomas, malignant pleural mesothelioma, chondrosarcoma, synovial sarcoma, Ewing sarcoma, and pancreatic adenocarcinoma. It has received orphan drug designation for unresectable or metastatic conventional chondrosarcoma.
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INBRX-106 - A hexavalent OX40 agonist being studied in patients with non-small cell lung cancer (NSCLC) and head and neck squamous cell carcinoma (HNSCC).
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License Fee Revenue - Generates income through licensing agreements for its proprietary technologies and therapeutic candidates.
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Grant Revenue - Previously recognized revenue from grants, such as a completed grant with the Department of Defense, though no grant revenue was recorded in the most recent period.
Recent press releases and 8-K filings for INBX.
- David J. Matly is promoted to President effective April 1, 2025, with an increased base salary of $601,670, 50,000 stock options vesting over four years, and notable contributions to the $2.2B asset sale of INBRX-101 to Sanofi .
- Dr. Brendan Eckelman, co-founder and former CSO, departs to launch a new biotech company, with his resignation triggering accelerated vesting of 50,000 stock options and an extended exercise period through October 1, 2026 .
- Dr. Carlos Bais is appointed as Chief Scientific Officer .
- Inhibrx Biosciences reported its Q4 and fiscal year 2024 financial results following the divestiture of the INBRX-101 program and a subsequent spin-off, while advancing two clinical programs with anticipated data readouts within the next 12 months.
- The company bolstered liquidity by reporting $152.6 million in cash as of December 31, 2024, and receiving $100 million from a loan agreement with Oxford Finance—raising cash to $230.5 million by February 2025.
- Q4 performance improved with a reduced net loss of $47.9 million (from $93.6 million in Q4 2023) and a turnaround to a fiscal year net income of $1.7 billion, reflecting the impact of the spin-off transaction.
- The company reported a Q4 net loss of $47.9 million while achieving full-year net income of $1.7 billion, reflecting the impact of its recent spin-off and related transactions.
- On January 13, 2025, Inhibrx secured $100.0 million in gross proceeds under a loan agreement with Oxford Finance LLC, with an option for an additional $50.0 million, highlighting its enhanced liquidity and funding strategy.
- The company updated its clinical pipeline with two ongoing trials, including data readouts for ozekibart expected within the next 12 months, underscoring a continued focus on advancing its therapeutic candidates.