Quarterly ResultMay 14, 2026, 04:09 PM
Inhibrx Files Ozekibart BLA; Q1 Net Loss $33.4M; Cash $161.7M
AI Summary
Inhibrx Biosciences reported its first-quarter 2026 financial results, highlighting a significant regulatory milestone with the submission of a Biologics License Application (BLA) to the FDA for ozekibart in conventional chondrosarcoma. The company also provided updates on its clinical programs, including interim data for INBRX-106 and ozekibart, and plans for future FDA meetings regarding registrational trials. Financially, Inhibrx reported a reduced net loss of $33.4 million and an increase in cash and cash equivalents to $161.7 million, partly due to a $75.0 million loan amendment.
Key Highlights
- Submitted Biologics License Application (BLA) to FDA for ozekibart in conventional chondrosarcoma in April 2026.
- Announced updated interim data from Phase 1/2 study of ozekibart in colorectal cancer in April 2026.
- Reported updated interim data from randomized Phase 2 HexAgon study of INBRX-106 in HNSCC in May 2026.
- Cash and cash equivalents were $161.7 million as of March 31, 2026, up from $124.2 million on Dec 31, 2025.
- Received $75.0 million in gross proceeds from a loan amendment in March 2026, increasing outstanding loan to $175.0 million.
- Research and development expenses decreased to $25.2 million in Q1 2026 from $36.9 million in Q1 2025.
- Net loss was $33.4 million ($2.15 per share) in Q1 2026, compared to $43.3 million ($2.80 per share) in Q1 2025.