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Inhibrx Biosciences Reports Third Quarter 2026 Financial Results

On November 13, 2026, Inhibrx Biosciences, Inc. (Nasdaq: INBX) disclosed its financial performance for the third quarter of 2026. This clinical-stage biopharmaceutical company currently has two programs actively progressing through clinical trials.

Clinical Milestones

Inhibrx is focused on advancing its clinical programs, particularly those involving:

1. Ozekibart (INBRX-109) in Ewing Sarcoma: The company plans to share updated results from Phase 1/2 studies at the upcoming annual meeting of the Connective Tissue Oncology Society (CTOS) in Seoul, South Korea, from November 19-20, 2026. This study evaluates the combination of ozekibart with irinotecan and temozolomide for patients with refractory Ewing sarcoma.

2. Ozekibart (INBRX-109) in Chondrosarcoma: The company is progressing with its commercial readiness activities, synchronized with the regulatory review timeline for ozekibart in the treatment of chondrosarcoma.

3. Ordastobart (INBRX-106) in Head and Neck Squamous Cell Carcinoma (HNSCC): Enrollment is currently underway for the Phase 2 segment of the randomized HexAgon study. This research integrates pembrolizumab and aims to add around 50 more HPV-positive oropharyngeal squamous cell carcinoma patients, bolstering the potential for an accelerated regulatory pathway. Inhibrx believes this strategic positioning maximizes ordastobart's efficacy by targeting settings with the highest immune responses.

4. Ordastobart (INBRX-106) in Non-Small Cell Lung Cancer (NSCLC): Initial results are expected to emerge from its Phase 1/2 study concerning ordastobart in a perioperative context for NSCLC by mid-2027. The insights gathered will be crucial for future development plans as this marker indicates potential applications beyond head and neck cancers.

Financial Overview

As of September 30, 2026, Inhibrx reported cash and cash equivalents totaling $199.5 million. The company's revenue for this quarter was $2.0 million, a result of a licensing agreement with Pfizer, compared to no revenue recorded during the same quarter in 2025. This licensing deal involved granting Pfizer a non-exclusive license for certain of Inhibrx's patent rights, receiving the payment in September 2026.

Research and development expenditures totaled $26.0 million, a decrease from $28.5 million in Q3 2025. This decline is largely due to a reduction in clinical trial costs associated with the completion of enrollment for the ozekibart study and a decrease in workforce-related expenses, although there was an increase in contract manufacturing costs related to the Biologics License Application (BLA) for ozekibart.

Conversely, general and administrative costs rose to $7.8 million, up from $5.3 million a year prior. This increase mainly pertains to pre-commercialization expenditures associated with market readiness and communications materials for the impending commercialization of ozekibart.

Total other expenses for the quarter amounted to $7.0 million, significantly higher than $1.4 million from the same quarter last year, primarily driven by increased interest on the company's $275.0 million loan balance versus $100.0 million in Q3 2025.

The net loss for the quarter stood at $38.7 million, or $2.46 per share, compared to a loss of $35.3 million or $2.28 per share in Q3 2025.

About Inhibrx Biosciences

Inhibrx operates as a biopharmaceutical company dedicated to developing novel therapeutic candidates through advanced protein engineering methods aimed at addressing specific disease challenges. Currently, its pipeline includes innovative candidates such as ozekibart and ordastobart, each engineered to function effectively through optimized multivalent formats.

Inhibrx maintains a commitment to progressing its research with an eye toward helping patients in need with new, effective treatments in oncology and other complex indications. For further details, visit www.inhibrx.com.

Forward-Looking Statements

The company's disclosures include forward-looking statements, reflecting Inhibrx's estimates and expectations. While these statements provide insights into the expected progression of clinical trials and their results, actual outcomes may vary due to inherent business risks and uncertainties. Investors are cautioned against placing excessive reliance on these statements as definitive future outcomes.

In conclusion, Inhibrx's Q3 2026 results and ongoing clinical advancements signify its standing as a key player in the biopharmaceutical sector, actively addressing some of the most pressing challenges in cancer treatment.