Inhibrx Biosciences (INBX) Q2 2026 earnings summary

Executive summary

• Clinical-stage biopharma advancing ozekibart (INBRX-109) and INBRX-106, with key milestones and pivotal data readouts expected in the next 12 months.

• Ozekibart showed positive Phase 1/2 and registrational trial results in colorectal cancer, Ewing sarcoma, and chondrosarcoma; BLA filed and accepted by FDA for chondrosarcoma, with a PDUFA date set for April 2027.

• Additional Phase 1 cohorts for ozekibart in colorectal cancer were initiated, with interim results expected in Q1 2027.

• INBRX-106 demonstrated promising interim Phase 2 results in combination with pembrolizumab for HNSCC, with progression-free survival data expected in Q3 2026 and plans for Phase 3 initiation.

Financial highlights

• No revenue recognized in Q2 2026; $1.3M license revenue in Q2 2025 from Scithera agreement.

• Q2 2026 net loss of $36.7M ($2.34 per share), up from $28.7M ($1.85 per share) in Q2 2025; six-month net loss of $70.1M.

• Research and development expenses rose to $23.9M in Q2 2026 from $22.3M in Q2 2025; G&A expenses increased to $8.3M in Q2 2026 from $6.4M in Q2 2025.

• Cash and cash equivalents were $133.3M as of June 30, 2026, increasing to $219.5M by August 6, 2026, after a $100M loan draw.

Outlook and guidance

• Existing cash expected to fund operations for at least 12 months from reporting date.

• Preparing for potential commercialization of ozekibart, with significant pre-commercialization expenses anticipated.

• Additional funding may be sought through equity, debt, or strategic transactions.

• Meeting with FDA planned in Q4 2026 to discuss first-line CRC trial and accelerated approval pathway.