Inhibrx Reports Second Quarter 2025 Financial Results and Future Milestones

Inhibrx Biosciences Reports Second Quarter 2025 Financial Results

Inhibrx Biosciences, Inc., a company listed on Nasdaq under the ticker symbol INBX, has released its financial results for the second quarter of 2025. Following several significant corporate changes, including the completion of the sale of its program INBRX-101 to Sanofi and its spin-off as an independent entity, Inhibrx is now focused on its two remaining programs in clinical trials: ozekibart (INBRX-109) and INBRX-106.

Key Developments

The recent quarter has been pivotal for Inhibrx, as it has transitioned into a fully independent biopharmaceutical firm. The full enrollment of the ozekibart (INBRX-109) Phase 2 trial concluded in July 2025, focusing on patients with unresectable or metastatic conventional chondrosarcoma. The expectation is to achieve 151 progression-free survival events necessary to unblind the study, with results anticipated by late October 2025. Also due during the same period is interim data from expansion cohorts of Ewing sarcoma and colorectal cancer.

Results from another notable clinical trial—the INBRX-106 randomized Phase 2/3 trial for head and neck squamous cell carcinoma, conducted in conjunction with the CHECKPOINT inhibitor KEYTRUDA®—are expected in the fourth quarter of 2025. This will be paired with data from the Phase 1/2 trial for checkpoint inhibitor refractory non-small cell lung cancer.

Financial Overview

As of June 30, 2025, Inhibrx's cash and cash equivalents stood at $186.6 million, down from $216.5 million at the end of Q1 2025. The revenue for Q2 2025 saw a significant increase to $1.3 million, up from $0.1 million during the same period in 2024, reflecting a solid growth trajectory.

Research and development expenses for Q2 2025 were reported at $22.3 million, a notable reduction from $67.6 million year-on-year, primarily due to the absence of prior in-depth clinical and manufacturing activities that ceased following the sale of INBRX-101. Likewise, the general and administrative expenses saw a sharp decline, totaling $6.4 million compared to $93.4 million in Q2 2024, profits were impacted by various transaction-related costs that occurred last year, which did not reoccur in 2025.

The net loss reported for this quarter was $28.7 million, equating to a loss per share of $1.85. This contrasts sharply with a prior year's net income of $1.9 billion, a result attributed predominantly to the gain realized from the INBRX-101 transaction last year.

Future Outlook

Inhibrx remains optimistic about the future as it prepares for significant clinical trial outcomes in the coming months. The focused biopharma aims to leverage its innovative therapeutics pipeline, with both ozekibart and INBRX-106 showing promise in the ongoing clinical studies.

As a company grounded in clinical innovation, Inhibrx continues to stress its commitment to developing cutting-edge biologics tailored to meet complex disease challenges. Investors and stakeholders look forward to updates on the trials and potential future financial indications stemming from the promising pipeline.

In summary, while the Q2 results reflect a challenging transition phase for Inhibrx, they simultaneously establish a foundation for sustainable growth in the biopharmaceutical sector. The next months will be critical as the company seeks to maximize its clinical outcomes, thereby paving the way for future success.

For further details on their financial results and clinical updates, visit Inhibrx's official website.