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 that focuses on developing a broad pipeline of novel biologic therapeutic candidates targeting oncology and rare diseases. With its proprietary modular protein engineering platforms, Inhibrx aims to create therapeutic candidates that address complex disease biology effectively. The company’s leading candidates include INBRX-109 and INBRX-106, which utilize multivalent formats to optimize agonist functions for specific targets.
One of the notable projects is INBRX-101, a recombinant human AAT-Fc fusion protein designed to treat patients with Alpha-1 Antitrypsin Deficiency (AATD). The ElevAATe trial, a randomized, controlled, double-blind, head-to-head superiority study, is currently evaluating INBRX-101 against plasma-derived AAT therapies. The trial aims to achieve sustained therapeutic levels with a less frequent dosing interval, addressing the limitations of current weekly infusions required by existing treatments. Initial results are anticipated by late 2024.
In another strategic move, Inhibrx has secured global rights for INBRX-101, as Chiesi Farmaceutici S.p.A declined the option for ex-North American rights, promising broader strategic opportunities in launching treatments for conditions like Graft versus Host Disease (GvHD) in markets such as Europe and Japan.
Additionally, the company has shown promising results in their Phase 1 trial of INBRX-109 combined with chemotherapies for advanced Ewing sarcoma, indicating a disease control rate of 76.9% among evaluated patients, with the majority achieving partial responses or stable disease.
Financially, Inhibrx is on the verge of a significant transaction with Sanofi, which involves the sale of INBRX-101 assets while spinning off its remaining pipeline into a new publicly traded entity, Inhibrx Biosciences, Inc. This move will position Inhibrx to continue advancing its other clinical programs and leverage its strong pipeline for future developments.
For more detailed information, visit their official website at www.inhibrx.com.
Inhibrx Biosciences (INBX) reported Q3 2024 financial results, showing a net loss of $43.9 million ($2.84 per share) compared to $51.8 million ($4.39 per share) in Q3 2023. The company held cash and equivalents of $196.3 million as of September 30, 2024, down from $226.9 million in June 2024. R&D expenses increased to $38.9 million from $38.1 million year-over-year, mainly due to expanded clinical trials. G&A expenses remained stable at $7.9 million. The company has two ongoing clinical programs with expected data readouts within 12 months.
Inhibrx (Nasdaq: INBX) has won a significant legal victory in a trade secrets case brought by I-Mab Biopharma in the United States District Court for the District of Delaware. The jury rejected all allegations of misappropriation that were filed on March 1, 2022, against Inhibrx and its Chief Scientific Officer, Brendan Eckelman, Ph.D. The lawsuit had claimed improper access and use of proprietary information during a prior arbitration proceeding where Dr. Eckelman served as an expert witness. The verdict validates Inhibrx's independent development processes and ethical conduct in advancing its therapeutic innovations.
Inhibrx Biosciences (Nasdaq: INBX) reported its Q2 2024 financial results and corporate highlights. Key points include:
1. Completion of separation from Former Parent on May 30, 2024
2. Cash and cash equivalents of $226.9 million as of June 30, 2024
3. R&D expenses increased to $67.6 million in Q2 2024
4. G&A expenses rose to $93.4 million in Q2 2024
5. Net income of $1.9 billion in Q2 2024, or $127.10 per share (basic)
The company now operates as a stand-alone entity focused on two clinical programs: ozekibart (INBRX-109) and INBRX-106.
Inhibrx announced that its stockholders have approved the sale of INBRX-101 to Sanofi. INBRX-101 is an augmentation therapy for alpha-1 antitrypsin deficiency (AATD). Before the sale, all non-101 assets and liabilities will be spun out into a new publicly traded company, New Inhibrx. Sanofi will acquire all outstanding shares of Inhibrx through a merger, offering $30 per share in cash and a contingent value right of $5 per share. Additionally, stockholders will receive one share of New Inhibrx for every four shares of Inhibrx common stock. Sanofi will also assume and retire Inhibrx's debt, and New Inhibrx will receive at least $200 million in cash. The transactions are expected to close soon, leading to Inhibrx's delisting from Nasdaq and cessation of SEC filings.
Inhibrx, Inc. announced an updated when-issued trading date for the anticipated spin-off of its subsidiary Inhibrx Biosciences, Inc. The spin-off will occur after the approval of the Company's acquisition by Sanofi at a special meeting on May 24, 2024. The trading of SpinCo common stock is expected to begin on a when-issued basis on May 28, 2024, under the symbol 'INXB.' The record date for the spin-off is May 17, 2024, with the distribution scheduled for May 29, 2024. The completion of the spin-off and merger is subject to closing conditions noted in the Company's Definitive Proxy Statement.
Inhibrx, Inc. has announced a record date set for May 17, 2024, for the distribution of 92% of shares of its subsidiary, Inhibrx Biosciences, Inc., to its common stockholders. The distribution is expected to occur on May 29, 2024, followed by the closing of the acquisition by Sanofi on May 30, 2024. Shareholders will receive one share of SpinCo common stock for every four shares of Inhibrx common stock held. Trading under the symbol 'INBX' will entitle shareholders to the distribution, with SpinCo common stock trading under 'INXB' until the completion of the distribution.
FAQ
What is the current stock price of Inhibrx Biosciences (INBX)?
What is the market cap of Inhibrx Biosciences (INBX)?
What is Inhibrx Biosciences, Inc.?
What are the main therapeutic candidates of Inhibrx?
What is INBRX-101?
What is the ElevAATe trial?
What were the results of the Phase 1 trial for INBRX-109?
What is the significance of Chiesi declining the option for INBRX-101?
What is the financial condition of Inhibrx?
What is the significance of the acquisition by Sanofi?
Will Inhibrx continue as a publicly traded company?
Where can I find more information about Inhibrx?
