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Sep 30
Inhibrx Biosciences Inc Q3 2025 Earnings Report
Inhibrx Biosciences reported a net loss of $35.3 million in Q3 2025, with no revenue recognized during the quarter.
Key Takeaways
Inhibrx Biosciences posted a reduced net loss for Q3 2025 as it continued clinical development efforts without generating revenue.
Net loss for Q3 2025 was $35.3 million, down from $43.9 million in Q3 2024.
R&D expenses decreased significantly due to lower manufacturing activities and headcount reductions.
The company had $153.1 million in cash and cash equivalents at quarter end.
No revenue was reported for the quarter following the sale of its INBRX-101 program.
Inhibrx Biosciences Inc
Inhibrx Biosciences Inc
Forward Guidance
The company anticipates submitting a biologics license application for ozekibart (INBRX-109) in Q2 2026 and continues to progress its clinical programs.
Positive Outlook
- Ozekibart met primary endpoint in chondrosarcoma study.
- Statistically significant improvement in progression-free survival demonstrated.
- Key secondary endpoints show enhanced disease control.
- FDA biologics license application planned for Q2 2026.
- Encouraging interim data from colorectal cancer and Ewing sarcoma cohorts.
Challenges Ahead
- No revenue recognized in Q3 2025.
- Continued operating losses and negative free cash flow.
- Interest expense of $3.2 million impacted financials.
- Cash reserves declined from the previous quarter.
- Ongoing reliance on external funding for clinical progress.