Quarterly ResultMay 14, 2026, 04:09 PM
Inhibrx Secures $75M Term B Loan; Q1 Net Loss Narrows to $33.4M
AI Summary
Inhibrx Biosciences, Inc. reported a net loss of $33.4 million for the first quarter of 2026, a reduction from $43.3 million in the prior year. The company significantly increased its liquidity by securing an additional $75.0 million in Term B Loans through an amendment to its 2025 Loan Agreement. As a result, cash and cash equivalents rose to $161.7 million, and total long-term debt increased to $175.0 million, while stockholders' equity shifted to a deficit.
Key Highlights
- Secured $75.0 million in Term B Loans via March 2026 Amendment to 2025 Loan Agreement.
- Net loss for Q1 2026 narrowed to $33.4 million, down from $43.3 million in Q1 2025.
- Cash and cash equivalents increased to $161.7 million as of March 31, 2026.
- Long-term debt, net, rose to $175.0 million as of March 31, 2026.
- Research and development expenses decreased to $25.2 million in Q1 2026.
- Net loss per share improved to $(2.15) in Q1 2026 from $(2.80) in Q1 2025.
- Total stockholders' equity shifted to a deficit of $(21.0) million as of March 31, 2026.