Inhibrx Biosciences Inc Q2 2024 Earnings Report
Key Takeaways
Inhibrx Biosciences reported a net income of $1.9 billion for the second quarter of 2024, driven by gains from the separation and distribution transaction. Cash and cash equivalents totaled $226.9 million as of June 30, 2024. Research and development expenses increased to $67.6 million, while general and administrative expenses rose to $93.4 million.
Completed separation from Former Parent, focusing on INBRX-106 and ozekibart (INBRX-109) programs.
Reported net income of $1.9 billion, or $127.10 per share, due to gains from the separation and distribution.
Cash and cash equivalents totaled $226.9 million as of June 30, 2024.
Increased R&D expenses to $67.6 million and G&A expenses to $93.4 million due to stock option expenses and transaction-related costs.