IN8bio (INAB) investor relations material

Executive summary

• Focused on gamma-delta T cell therapies for cancer and autoimmune diseases, with INB-100 and INB-200 as lead clinical programs and a robust preclinical pipeline including INB-600 T cell engagers and iPSC-derived candidates.

• Achieved durable four-year progression-free survival in glioblastoma and presented positive clinical data at major conferences, with INB-100 showing 100% one-year PFS and OS in AML patients in Phase 1.

• INB-200 showed median progression-free survival of 16.1 months, over double the standard of care, with 40% of patients progression-free for over 18 months and no significant toxicities.

• Reported promising preclinical results for INB-619 in lupus, demonstrating targeted B cell depletion without significant inflammatory cytokines.

• Recognized for innovative cell therapy manufacturing, winning the Host Region USA East Abstract Award at ISCT 2025.

Financial highlights

• Net loss of $5.1 million for Q2 2025, improved from $8.6 million in Q2 2024; six-month net loss of $10.6 million, down from $17.2 million year-over-year.

• Research and development expenses decreased to $2.5 million in Q2 2025 from $5.2 million in Q2 2024, mainly due to lower personnel and clinical costs and a strategic pause in INB-400.

• General and administrative expenses fell to $2.7 million in Q2 2025 from $3.5 million in Q2 2024, reflecting cost savings and reduced headcount.

• Cash and equivalents were $13.2 million as of June 30, 2025, up from $10.2 million year-over-year, expected to fund operations into June 2026.

• Raised $7.4 million through ATM equity sales and $2.3 million from warrant exercises in the first half of 2025.

Outlook and guidance

• Current cash is not expected to fund operations for 12 months from the report date; substantial doubt exists about the ability to continue as a going concern.

• Management is pursuing additional capital through equity, debt, and strategic partnerships, but no assurance of success.

• Cash preservation measures may impact the timing of milestones and regulatory filings.

• Additional clinical and preclinical data updates are anticipated in late 2025 and 2026, contingent on funding.

• Anticipates updates on INB-100 enrollment in leukemia, clinical updates from INB-200 and INB-400, and additional preclinical data from INB-619 in Q4 2025.