INBX · Inhibrx Biosciences, Inc.

Inhibrx Biosciences reported its first quarter 2026 financial results, showing a reduced net loss of $33.4 million compared to $43.3 million in the same period last year. The improvement was driven by a 32% decrease in R&D expenses to $25.2 million, primarily due to lower clinical trial costs for ozekibart as the chondrosarcoma trial neared completion, and reduced contract manufacturing expenses. G&A expenses also decreased slightly to $5.7 million. Other expense increased to $2.5 million from $0.4 million, reflecting higher interest expense after drawing an additional $75 million under the Oxford Finance loan agreement, bringing total debt to $175 million. Cash and equivalents stood at $161.7 million as of March 31, 2026, up from $124.2 million at year-end 2025. Operationally, the company highlighted the submission of a BLA for ozekibart in conventional chondrosarcoma in April 2026 and plans to announce PFS data from the INBRX-106 Phase 2 HNSCC trial in Q4 2026. Management also intends to meet with the FDA in the second half of 2026 to discuss a first-line registrational trial in CRC and potential accelerated pathways for ozekibart in fourth-line CRC and refractory Ewing sarcoma. The company's cash runway and reduced operating loss provide a solid foundation for advancing its pipeline, though the increased debt burden and higher interest expense warrant monitoring.