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INAB

IN8bio, Inc.

INAB

IN8bio, Inc. • NASDAQ
$1.98 ▼ -1.49% (-0.03)
Market Cap $9.18 M
52w High $12.54
52w Low $1.53
Dividend Yield 0%
P/E -0.38
Volume 16.96K
Outstanding Shares 4.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $3.854M ▼ $-3.854M ▲ 0% $-0.85 ▲ $-3.327M ▲
Q2-2025 $0 $5.094M ▼ $-5.094M ▲ 0% $-1.24 ▼ $-4.417M ▲
Q1-2025 $0 $5.55M ▼ $-5.55M ▲ 0% $-0.067 ▲ $-4.991M ▲
Q4-2024 $0 $6.16M ▼ $-6.16M ▲ 0% $-0.085 ▲ $-5.522M ▼
Q3-2024 $0 $7.086M $-7.086M 0% $-0.15 $-5.351M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.689M ▼ $16.768M ▼ $3.579M ▼ $13.189M ▼
Q2-2025 $13.226M ▲ $19.371M ▼ $4.132M ▼ $15.239M ▲
Q1-2025 $11.888M ▲ $19.869M ▼ $5.992M ▼ $13.877M ▼
Q4-2024 $11.12M ▲ $20.944M ▲ $6.466M ▼ $14.478M ▲
Q3-2024 $4.001M $15.966M $7.378M $8.588M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.854M ▲ $-3.524M ▲ $0 $989K ▼ $-2.537M ▼ $-3.524M ▲
Q2-2025 $-5.094M ▲ $-3.927M ▼ $0 $5.267M ▲ $1.34M ▲ $-3.927M ▼
Q1-2025 $-5.55M ▲ $-3.122M ▲ $0 ▲ $3.893M ▼ $771K ▼ $-3.122M ▲
Q4-2024 $-6.16M ▲ $-4.028M ▲ $-33K ▼ $11.187M ▲ $7.119M ▲ $-4.061M ▲
Q3-2024 $-7.086M $-6.111M $0 $-105K $-6.216M $-6.111M

Five-Year Company Overview

Income Statement

Income Statement The company is still in the pure research phase, with no product revenue yet. Its income statement is driven almost entirely by R&D and overhead costs, which lead to steady, ongoing losses each year. These losses have been fairly consistent over time, reflecting a controlled but persistent spend on clinical development rather than rapid expansion. Per‑share losses were larger in the earlier years and have recently narrowed somewhat, but the business remains far from break‑even and is financially dependent on external funding rather than internal cash generation.

Balance Sheet

Balance Sheet The balance sheet is small and relatively simple. Assets are modest and primarily made up of cash, which has declined over time as the company funds its operations. Equity has shrunk alongside this cash use, while a small amount of debt has appeared more recently, signaling a slight increase in financial leverage. Overall, the company has a thin capital base and limited resources, which is typical for an early-stage biotech but leaves little cushion if costs rise or funding becomes harder to access.

Cash Flow

Cash Flow Cash flow is consistently negative because the company spends on research and operations without bringing in revenue. Operating cash outflows closely track the reported losses, and free cash flow is also negative, with little to no spending on long‑term physical assets. This indicates that nearly all cash use is going into people, trials, and scientific work rather than infrastructure. The burn rate looks controlled rather than explosive, but the pattern makes clear that fresh capital will be needed periodically to sustain and advance the pipeline.

Competitive Edge

Competitive Edge Scientifically, the company is positioned in a specialized corner of oncology focused on gamma‑delta T cell therapies, where it has been one of the early movers, especially in genetically modified approaches. Its proprietary platform and clinical progress in hard‑to‑treat cancers give it a differentiated story compared with more crowded areas of cell therapy. However, it competes against both dedicated gamma‑delta players and much larger oncology firms with deeper pockets. Its edge rests on unique technology and early clinical results, but this advantage is still unproven at commercial scale and could narrow as the field matures.

Innovation and R&D

Innovation and R&D Innovation is the clear strength here. The DeltEx platform combines several advanced ideas—drug‑resistant immune cells, a novel twist on CAR technology, and potential off‑the‑shelf cell sources—aimed at making cancer therapies more precise, durable, and compatible with standard treatments. Multiple drug candidates have already reached the clinic, with the company now concentrating its limited resources on the most promising leukemia program while pausing some glioblastoma work. This focus helps align R&D with financial reality, but it also concentrates scientific risk into fewer programs, making trial outcomes especially important for the company’s future.

Summary

IN8bio is a pre‑revenue, clinical‑stage biotech whose story is driven far more by its science than its current financials. The financial profile shows a lean but steadily loss‑making operation funded by cash on hand and occasional external capital, with a very small asset base and some recent use of debt. A recent reverse stock split underscores the pressure to maintain market listing and access to capital. On the opportunity side, the company holds a differentiated position in gamma‑delta T cell therapy with encouraging early data in tough cancers and a sharpened focus on its lead leukemia program. On the risk side, it faces the usual binary clinical and regulatory uncertainties of early‑stage biotech, amplified by a limited financial cushion and heavy reliance on successful trial progress and future financing or partnerships.

NEWS

November 6, 2025 · 4:00 PM UTC

IN8bio Reports Third Quarter 2025 Financial Results and Recent Business Highlights

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October 29, 2025 · 8:00 AM UTC

IN8bio Expands INB-100 Phase 1 Clinical Trial with Addition of The Ohio State University as New Site

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October 27, 2025 · 8:00 AM UTC

IN8bio Presents T cell Engager Data Demonstrating Deep B Cell Depletion for Autoimmune Indications

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