Inhibrx (NASDAQ:INBX) reported Q2 2025 financial results following its spin-off from Former Parent and the $2.0B INBRX-101 sale to Sanofi in May 2024. The company ended Q2 with $186.6 million in cash, down from $216.5M in Q1. Revenue was $1.3 million, up from $0.1M in Q2 2024.
R&D expenses decreased to $22.3 million from $67.6M, while G&A expenses dropped to $6.4 million from $93.4M. The company reported a net loss of $28.7 million ($1.85 per share) compared to net income of $1.9B in Q2 2024. Two key clinical trials are progressing with data readouts expected in late 2025: the ozekibart Phase 2 trial for chondrosarcoma and INBRX-106 Phase 2/3 trial for head and neck cancer.
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