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INBX

Inhibrx Biosciences, Inc.

INBX

Inhibrx Biosciences, Inc. • NASDAQ
$84.12 ▲ 0.55% (+0.46)
Market Cap $1.22 B
52w High $87.83
52w Low $10.80
Dividend Yield 0.85%
P/E -7.03
Volume 92.69K
Outstanding Shares 14.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $33.23M ▲ $-35.256M ▼ 0% ▲ $-2.28 ▼ $-31.493M ▼
Q2-2025 $1.3M ▲ $28.027M ▼ $-28.654M ▲ -2.204K% ▼ $-1.85 ▲ $-24.85M ▲
Q1-2025 $0 ▼ $42.226M ▼ $-43.311M ▲ 0% ▲ $-2.8 ▲ $-39.947M ▲
Q4-2024 $100K ▲ $49.339M ▲ $-47.865M ▼ -47.865K% ▼ $-3.31 ▼ $-47.176M ▼
Q3-2024 $0 $46.037M $-43.864M 0% $-2.84 $-43.104M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $153.088M ▼ $177.471M ▼ $140.641M ▼ $36.83M ▼
Q2-2025 $186.567M ▼ $212.118M ▼ $143.559M ▼ $68.559M ▼
Q1-2025 $216.52M ▲ $242.639M ▲ $148.196M ▲ $94.443M ▼
Q4-2024 $152.596M ▼ $180.767M ▼ $47.183M ▲ $133.584M ▼
Q3-2024 $196.332M $222.562M $44.095M $178.467M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-35.256M ▼ $-33.824M ▼ $-7K ▼ $352K ▲ $-33.479M ▼ $-33.834M ▼
Q2-2025 $-28.654M ▲ $-29.953M ▲ $0 ▲ $0 ▼ $-29.953M ▼ $-29.953M ▲
Q1-2025 $-43.311M ▲ $-35.895M ▲ $-21K ▼ $99.84M ▲ $63.924M ▲ $-35.916M ▲
Q4-2024 $-47.865M ▼ $-43.72M ▼ $-16K ▲ $0 $-43.736M ▼ $-43.736M ▼
Q3-2024 $-43.864M $-30.281M $-247K $0 $-30.528M $-30.528M

Revenue by Products

Product Q2-2024Q4-2024Q2-2025Q3-2025
License NonAffiliate
License NonAffiliate
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Inhibrx is still an early-stage biotech with essentially no product revenue so far. The recurring picture over the past years is a business that spends heavily on research and development and posts operating losses. The sudden swing to a large profit in the most recent year appears to be driven mainly by a one‑off gain from the Sanofi transaction, not from the underlying drug business. In other words, the core operations are still loss‑making, and the headline profit masks an underlying pattern of ongoing operating expenses outpacing revenue.

Balance Sheet

Balance Sheet The balance sheet is small but much cleaner than in prior years. Cash now makes up most of the assets, and debt has been reduced to a low level, helped by the strategic sale of a program. Equity has strengthened from a thin base, which improves financial resilience. The company looks better positioned to fund its near‑term plans than before, though it remains a pre‑revenue biotech that will still be sensitive to future financing needs if development timelines stretch or costs rise.

Cash Flow

Cash Flow Cash flow shows a steady pattern of cash being used rather than generated. Operating cash outflows have been fairly consistent, reflecting ongoing R&D and overhead with no offsetting product sales. Capital spending is minimal, so almost all cash usage is tied directly to running and growing the pipeline. The recent strategic deal likely brought in cash outside of normal operations, easing near‑term pressure, but the underlying business still consumes cash each year and will continue to do so until meaningful commercial revenue or additional partnerships emerge.

Competitive Edge

Competitive Edge Inhibrx competes in a crowded oncology and rare‑disease space, but it has carved out some distinctive niches. Its single‑domain antibody platform is a differentiator, and its lead program in chondrosarcoma targets a cancer with no approved systemic therapies, giving it a potential first‑mover edge. The OX40 program also offers a fresh angle in immuno‑oncology compared with more conventional antibody designs. A strengthened cash position, focused indications, and a solid patent estate support the competitive story, but the company still faces intense rivalry from much larger players and the usual high failure risk of oncology development.

Innovation and R&D

Innovation and R&D The company is highly innovation‑driven. Its core technology allows for very flexible antibody engineering, which can be adapted across multiple cancer types and potentially other diseases. Lead assets illustrate this: one is designed to directly trigger cancer cell death, while another aims to supercharge the immune system’s attack on tumors. Management is signaling a pipeline behind these programs, which could broaden the opportunity set over time. However, much of the value currently hinges on a small number of key trials; setbacks in these would significantly weaken the R&D story, so execution and clinical data are critical.

Summary

Inhibrx is an early‑stage biotech with promising science and still‑immature financials. The income statement shows a typical pattern for this kind of company: ongoing operating losses, temporarily overshadowed by a one‑time gain from a strategic asset sale. The balance sheet and cash position have been materially strengthened by that deal, reducing debt and giving management more room to advance the pipeline. Cash flows remain negative, reflecting sustained investment in R&D rather than any commercial engine. Competitively, Inhibrx stands out through its single‑domain antibody platform, focus on underserved cancers, and a potentially first‑in‑class therapy in chondrosarcoma, but it operates in a high‑risk, highly competitive field. Overall, the story is about strong scientific potential and improved financial footing, balanced against the usual clinical, regulatory, and funding uncertainties that come with a pre‑revenue biotech.

NEWS

November 14, 2025 · 6:00 AM UTC

Inhibrx Reports Third Quarter 2025 Financial Results

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November 4, 2025 · 4:01 PM UTC

Inhibrx Announces Participation in Upcoming Scientific Conferences

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October 23, 2025 · 4:05 PM UTC

Inhibrx Biosciences Reports Positive Topline Results from its Registrational Trial of Ozekibart (INBRX-109) in Chondrosarcoma and Provides Updates on Colorectal Cancer and Ewing Sarcoma Expansion Cohorts

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October 22, 2025 · 4:01 PM UTC

Inhibrx To Host Webcast Presentation of Topline Results from its Registrational Trial of Ozekibart (INBRX-109) in Chondrosarcoma and to Provide Updates on Colorectal Cancer and Ewing Sarcoma Expansion Cohorts

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