Inhibrx Biosciences Inc Stock Price, News & Analysis

Inhibrx, Inc. (Nasdaq: INBX) announced that the FDA has granted orphan-drug designation for INBRX-101 to treat alpha-1 antitrypsin deficiency (AATD). This designation acknowledges the unmet medical need for new therapies in AATD, which affects approximately 100,000 patients in the U.S. INBRX-101 is designed for once-monthly dosing and aims to improve AAT levels significantly. Orphan designation offers benefits, including financial incentives and potential seven years of market exclusivity upon approval, enhancing Inhibrx's position in the biotech sector.

Inhibrx, Inc. (Nasdaq: INBX) reported its financial results for Q4 and FY 2021, highlighting a net loss of $21.2 million for Q4, or $0.55 per share, compared to $17.6 million in Q4 2020. The annual net loss increased to $81.8 million, or $2.15 per share, from $76.1 million in FY 2020. The company had cash and equivalents of $131.3 million as of December 31, 2021. Recent highlights include FDA orphan-drug designation for INBRX-109 and initial Phase 1 results for INBRX-106, now expected to announce further data in H2 2022.

Inhibrx, Inc. (Nasdaq: INBX) has amended its loan agreement with Oxford Finance, enhancing its financial flexibility amid a challenging equity market. The amendment allows for up to $130 million in new term loans, with $40 million available immediately and additional funding contingent upon key clinical trial developments. The revised terms extend loan maturity to January 2027 at an interest rate of 8.19%. This deal strengthens Inhibrx's balance sheet and supports ongoing clinical programs, including INBRX-105 and INBRX-101.

Inhibrx, Inc. (Nasdaq: INBX) announced initial results from Part 3 of a Phase 1 trial of INBRX-106, a hexavalent OX40 agonist combined with Keytruda^®, for treating solid tumors. 21 patients participated, with a maximum tolerated dose identified at 0.1 mg/kg. Initial findings indicated two durable partial responses and tumor volume reductions in additional cases. The trial also highlighted the notable tolerability of the combination therapy. Inhibrx expressed optimism regarding the clinical translatability of preclinical data.

Inhibrx, Inc. (Nasdaq: INBX) announced the FDA has granted orphan-drug designation for INBRX-109, targeting metastatic chondrosarcoma, a rare bone cancer with no approved therapies. This designation offers financial incentives for clinical development and up to seven years of market exclusivity. Preliminary results from a Phase 1 trial show disease control in 89% of evaluable patients and a median progression-free survival of 7.4 months. The company is advancing its Phase 2 trial aiming for registration. Inhibrx's strategy focuses on innovative therapies for oncology and orphan diseases.

Inhibrx, Inc. (Nasdaq: INBX) reported a net loss of $20.6 million for Q3 2021, equating to $0.54 per share, a slight decrease from $20.5 million in the same quarter last year. Total revenue for Q3 was $2.5 million, down from $5.9 million year-over-year. Cash and cash equivalents increased to $141.1 million as of November 9, 2021, from $112.7 million at the end of Q3. The company announced interim Phase 1 trial results for INBRX-101, showing potential to normalize AAT levels in patients with AAT deficiency, and appointed key executives to bolster its operations.

Inhibrx, Inc. (Nasdaq: INBX) announced its participation in the Society for Immunotherapy of Cancer's annual meeting from November 10-14, 2021, presenting three posters on its clinical candidates. The presentations include data on INBRX-105 and INBRX-106, focusing on pharmacodynamic biomarkers and anti-tumor activity. Additionally, the emerging candidate INBRX-121 will be introduced, targeting NK cells to enhance cytotoxicity. These highlights reflect Inhibrx's ongoing commitment to advancing oncology therapeutics.

Inhibrx, Inc. (Nasdaq: INBX) announced its participation in the CTOS 2021 Virtual Annual Meeting from November 10-13, 2021. The company will present findings on its drug candidate, INBRX-109, focused on conventional chondrosarcoma and Ewing sarcoma. Presentations include an oral update on safety and efficacy on November 11, and a poster detailing cohort expansion plans. Inhibrx will also participate in multiple upcoming investor conferences in November and December. These presentations are expected to bolster investor confidence and showcase advancements in their oncology pipeline.

On October 28, 2021, Inhibrx (Nasdaq: INBX) announced the appointment of three key executives: David Matly as Chief Commercial Officer, David Kao as Vice President of Regulatory Affairs, and Jack Tsai as Vice President of Business Development. These strategic hires aim to enhance the company's clinical pipeline focused on areas with high unmet medical need, such as Alpha-1 Antitrypsin Deficiency and Chondrosarcoma. Additionally, Kristiina Vuori joined the Board of Directors, taking over from Brendan Eckelman, who stepped down but continues to lead research strategy.