Inhibrx Biosciences (INBX) Registration filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on novel biologic therapeutics using proprietary modular protein engineering platforms.

• Pipeline includes ozekibart (INBRX-109) and INBRX-106, targeting oncology indications with multivalent antibody formats.

• Formed via spin-off from a former parent company, with assets and infrastructure transferred prior to a merger transaction.

• Mission is to develop effective biologic treatments for life-threatening conditions and evolve into a commercial-stage company.

Financial performance and metrics

• Net loss for the three months ended March 31, 2024 was $49.3 million; net loss for 2023 was $155.0 million.

• Research and development expenses for Q1 2024 were $40.4 million, up 18% year-over-year; 2023 R&D expenses were $130.1 million, up 28% from 2022.

• General and administrative expenses for Q1 2024 were $8.8 million, up 65% year-over-year; 2023 G&A expenses were $24.2 million, up 61% from 2022.

• As of May 30, 2024, held $255.4 million in cash and cash equivalents, expected to fund operations for at least 12 months.

Use of proceeds and capital allocation

• No proceeds from the resale of shares by selling stockholders; may receive up to $100 from warrant exercises, to be used for working capital and general corporate purposes.

• Capital allocation focused on advancing clinical programs, supporting preclinical pipeline, and preparing for commercialization.