Inhibrx Biosciences Reports Financial Results for Q3 2025
Inhibrx Biosciences, Inc. (NASDAQ: INBX), known for its innovative biopharmaceutical solutions, has released its financial results for the third quarter of 2025. Following a strategic shift that involved the sale of its program INBRX-101 to Sanofi S.A. and the separation of its operations in May 2024, Inhibrx has concentrated its efforts on its promising clinical trials.
Recent Corporate Developments
On October 23, 2025, Inhibrx unveiled encouraging topline results from the registrational trial of its flagship therapeutic candidate, ozekibart (also known as INBRX-109), specifically targeting chondrosarcoma. This milestone represents a significant leap forward in the company's ongoing efforts within the oncology arena.
The trial results indicate that ozekibart has successfully met its primary endpoint for effectiveness, showcasing a statistically significant enhancement in median progression-free survival outcomes when compared to placebo. Furthermore, secondary endpoints substantiate these conclusions with measurable improvements in disease management and enhanced quality of life for patients.
Upcoming Regulatory Submissions
With the positive trial outcomes, Inhibrx is preparing to submit an application for a biologics license to the U.S. Food and Drug Administration in the second quarter of 2026. This proactive approach highlights the company's commitment to advancing its therapeutic candidates through the regulatory landscape.
Additionally, interim findings from expansion cohorts involving patients with colorectal cancer and Ewing sarcoma reveal promising response and disease control rates among challenging-to-treat populations, solidifying Inhibrx's reputation as a trailblazer in oncology drug development.
Financial Overview
As of September 30, 2025, Inhibrx reported cash and cash equivalents totaling $153.1 million, down from $186.6 million at the end of the previous quarter.
Research and development (R&D) expenses for Q3 2025 were recorded at $28.5 million, a noticeable decrease from $38.9 million during the same period in 2024. This reduction is primarily attributed to decreased process development and manufacturing activities by contract partners over the past year. A decline in personnel-related expenses due to reductions in headcount also contributed to the overall lower R&D costs.
Administrative Costs
The general and administrative (G&A) expenses were $5.3 million for the third quarter of 2025, down from $7.9 million a year ago. This reduction is largely linked to lower legal expenses following the resolution of prior legal challenges and a decrease in staff-related costs.
Inhibrx recorded other expenses of $1.4 million for the recent quarter, contrasting with other income of $2.9 million during Q3 2024. The other expenses in 2025 primarily arose from interest on a $100 million debt balance, whereas the company did not incur interest expenses in the same quarter of 2024 due to extinguishing all debt related to the prior divestiture.
Net Loss and Earnings
The company reported a net loss of $35.3 million or $2.28 per diluted share. This figure is an improvement compared to the net loss of $43.9 million or $2.84 per diluted share recorded in the third quarter of the previous year. The reduction in losses illustrates an important trend in financial performance as Inhibrx moves forward.
Exploring Inhibrx's Future
Inhibrx operates as a clinical-stage biopharmaceutical company with a robust pipeline of novel therapeutic candidates. The focus on precise protein engineering methods allows the company to tailor treatments for complex diseases effectively. Following its establishment as a wholly-owned subsidiary in January 2024, Inhibrx aims to advance its development of ozekibart (INBRX-109) and INBRX-106, utilizing multivalent formats to optimize therapeutic efficacy.
Frequently Asked Questions
What recent trial results did Inhibrx announce?
Inhibrx announced positive topline results from the ozekibart (INBRX-109) trial in chondrosarcoma, meeting primary endpoints.
When will Inhibrx submit its FDA application?
The company plans to submit its biologics license application to the FDA in the second quarter of 2026.
What were Inhibrx's cash reserves as of September 30, 2025?
Cash and cash equivalents totaled $153.1 million as of that date.
What were the R&D expenses for Q3 2025?
Research and development expenses were reported at $28.5 million for the quarter.
How did Inhibrx's net loss change from last year?
The net loss improved from $43.9 million in Q3 2024 to $35.3 million in Q3 2025.
