IN8BIO, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $5.6 million, a decrease from the $8.6 million loss recorded in the same period of 2024. The company’s total operating expenses for the quarter were $5.7 million, down from $8.6 million year-over-year, primarily due to reduced research and development costs, which fell to $3.0 million from $4.9 million. General and administrative expenses also decreased to $2.7 million from $3.7 million, reflecting cost-saving measures including a significant reduction in personnel-related expenses.
As of March 31, 2025, IN8BIO's total assets amounted to $19.9 million, a decline from $20.9 million at the end of 2024. The company’s cash reserves increased slightly to $11.9 million from $11.1 million, while total liabilities decreased to $6.0 million from $6.5 million. The reduction in liabilities was attributed to lower current liabilities, which fell to $3.0 million from $3.1 million, indicating improved financial management amid ongoing operational challenges.
Strategically, IN8BIO has focused on its lead product candidate, INB-100, which is currently in a Phase 1 clinical trial for acute myeloid leukemia (AML). The company has also prioritized its pipeline by suspending the development of INB-400 and reducing its workforce by approximately 49% to optimize resource allocation. This decision was made in light of the need to preserve capital and enhance financial flexibility in a challenging biotechnology market. The company is actively seeking partnerships to support the development of its product candidates.
Operationally, IN8BIO has made significant strides in its clinical trials, with INB-100 showing promising results in terms of patient outcomes. The company reported that 100% of AML patients treated with INB-100 remained in complete remission, with a median follow-up of 20.1 months. The company is also exploring additional funding avenues, including potential collaborations and the exercise of outstanding warrants, which could yield up to $10 million in additional capital.
Looking ahead, IN8BIO faces substantial challenges, including the need for further capital to sustain operations beyond the next 12 months. The company has outlined plans to raise additional funds through equity and debt offerings, as well as strategic collaborations. However, there is considerable uncertainty regarding the timing and availability of such financing, which could impact the company's ability to continue its research and development activities.
About IN8BIO, INC.
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