Inhibrx Biosciences, Inc. (Nasdaq: INBX) reported its financial results for the three and nine months ended September 30, 2026, in a filing dated November 13, 2026. The company reported cash and cash equivalents of $199.5 million as of September 30, 2026, an increase from $124.2 million at the end of 2025.
For the third quarter of 2026, Inhibrx recognized $2.0 million in revenue under a license agreement with Pfizer, Inc., which involved the grant of a non-exclusive license for certain patent rights. The company reported a net loss of $38.7 million, or $2.46 per share, for the quarter. Research and development expenses decreased to $26.0 million from $28.5 million in the prior year, primarily due to timing in clinical trial costs and reduced personnel expenses, offset by increased contract manufacturing expenses related to filing a Biologics License Application (BLA) for ozekibart (INBRX-109) in conventional chondrosarcoma. General and administrative expenses increased to $7.8 million from $5.3 million, driven by pre-commercialization activities for ozekibart.
The company outlined several upcoming clinical milestones. Ozekibart (INBRX-109) is set to be presented at the annual Connective Tissue Oncology Society (CTOS) meeting in Seoul, South Korea, from November 19th to 20th, 2026. Ordastobart (INBRX-106) is currently enrolling the Phase 2 portion of the randomized HexAgon study in head and neck squamous cell carcinoma (HNSCC) in combination with pembrolizumab, with an initial readout expected around mid-2027. Additionally, Inhibrx expects initial results from its Phase 1/2 study of ordastobart in the perioperative setting of non-small cell lung cancer (NSCLC) in mid-2027.
