Inhibrx Biosciences Inc

NASDAQ:INBXUnited States

Nov 14, 2024

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• Inhibrx Biosciences Reports Third Quarter 2024 Financial Results, from 4:24PM ET on Thursday Nov 14, 2024 by PR Newswire

  4:24PM ET on Thursday Nov 14, 2024 by PR Newswire
  Companies Mentioned: INBX

  Inhibrx Biosciences, Inc. (Nasdaq: INBX) ("Inhibrx Biosciences" or the "Company") today reported financial results forthe third quarter of 2024. Following the completion of the sale of INBRX-101 by Inhibrx, Inc. (the "Former Parent") to Sanofi S.A. and the Former Parent's concurrent spin-off of the Inhibrx Biosciences business in May 2024, the biopharmaceutical company now has two programs in ongoing clinical trials, with data readouts for each expected within the next 12 months. Because the spin-off was accounted for as a reverse spin-off, for periods prior to the spin-off, the Company's financial statements are the historical financial statements of the Former Parent.

• *DJ Inhibrx Biosciences 3Q Loss/Shr $2.84 >INBX, from 4:24PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:24PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: INBX
  (expense) 2,933 (5,960) 2,016,959 (16,818) Provision for income taxes -- 2 2 7 Net income (loss) $ (43,864) $ (51,789) $ 1,735,437 $ (147,757) ========================= ======================= ======================= ======================= Earnings (loss) per share Basic $ (2.84) $ (4.39) $ 119.04 $ (13.19) Diluted $ (2.84) $ (4.39) $ 117.09 $ (13.19) Shares used in computing earnings (loss) per share Basic 15,468 11,788 14,578 11,201 Diluted 15,468 11,788 14,821 11,201 Inhibrx Biosciences, Inc Condensed Consolidated Balance Sheets (In thousands) (Unaudited) SEPTEMBER 30, DECEMBER 31, 2024 2023 Cash and cash equivalents $ 196,332 $ 277,924 Other current assets 11,114 17,434 Non-current assets 15,116 12,535 ----------------------------------- ------------------------------ Total assets $ 222,562 $ 307,893 =================================== ============================== Debt, current and non-current $ -- $ 206,968 Other current liabilities 44,095 56,312 Other non-current liabilities -- 1,110 ----------------------------------- ------------------------------ Total liabilities 44,095 264,390 Stockholders' equity 178,467 43,503 ----------------------------------- ------------------------------ Total liabilities and stockholders' equity $ 222,562 $ 307,893 =================================== ==============================
  

• Inhibrx Biosciences Reports Third Quarter 2024 Financial Results, from 4:24PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:24PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: INBX
  (expense) 2,933 (5,960) 2,016,959 (16,818) Provision for income taxes -- 2 2 7 Net income (loss) $ (43,864) $ (51,789) $ 1,735,437 $ (147,757) ========================= ======================= ======================= ======================= Earnings (loss) per share Basic $ (2.84) $ (4.39) $ 119.04 $ (13.19) Diluted $ (2.84) $ (4.39) $ 117.09 $ (13.19) Shares used in computing earnings (loss) per share Basic 15,468 11,788 14,578 11,201 Diluted 15,468 11,788 14,821 11,201 Inhibrx Biosciences, Inc Condensed Consolidated Balance Sheets (In thousands) (Unaudited) SEPTEMBER 30, DECEMBER 31, 2024 2023 Cash and cash equivalents $ 196,332 $ 277,924 Other current assets 11,114 17,434 Non-current assets 15,116 12,535 ----------------------------------- ------------------------------ Total assets $ 222,562 $ 307,893 =================================== ============================== Debt, current and non-current $ -- $ 206,968 Other current liabilities 44,095 56,312 Other non-current liabilities -- 1,110 ----------------------------------- ------------------------------ Total liabilities 44,095 264,390 Stockholders' equity 178,467 43,503 ----------------------------------- ------------------------------ Total liabilities and stockholders' equity $ 222,562 $ 307,893 =================================== ==============================