Inhibrx Q1 net loss narrows as R&D costs fall

Inhibrx Biosciences

14/05/2026 21:09

Overview

US biopharmaceutical company's Q1 net loss narrowed yr/yr as R&D expenses declined

Company's Q1 R&D expenses fell, mainly due to lower clinical trial and manufacturing costs

Cash balance rose after receipt of $75 mln in loan proceeds in March 2026

Outlook

Company plans to announce PFS data from INBRX-106 Phase 2 trial in Q4 2026

Company expects to meet with FDA in H2 2026 to discuss registrational trial for ozekibart in CRC

Company to discuss potential accelerated regulatory pathways for ozekibart in fourth-line CRC and refractory Ewing sarcoma with FDA in H2 2026

Result Drivers

R&D COSTS - Lower clinical trial and contract manufacturing costs, as well as reduced headcount, drove a decrease in R&D expenses

INTEREST EXPENSE - Higher interest expense following an additional $75 mln loan drawdown increased other expenses

Company press release: ID:nPn3FKRyHa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
Miss
-$2.15
-$1.79 (2 Analysts)
Q1 Net Income
Miss
-$33.44 mln
-$28.58 mln (2 Analysts)
Q1 Operating Income
Miss
-$30.93 mln
-$27.84 mln (2 Analysts)
Q1 Operating Expenses
$30.93 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Inhibrx Biosciences Inc is $265.00, about 124.7% above its May 13 closing price of $117.95

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)