IN8Bio, Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $3.9 million, a significant improvement from the $7.1 million loss recorded in the same period last year. For the nine months ending September 30, 2025, the company reported a net loss of $14.5 million, down from $24.3 million in the prior year. The reduction in losses is attributed to a decrease in total operating expenses, which fell to $4.0 million for the quarter, compared to $7.1 million in Q3 2024, driven primarily by lower research and development costs.
The company’s total assets decreased to $16.8 million as of September 30, 2025, down from $20.9 million at the end of 2024. This decline was primarily due to a reduction in non-current assets, which fell to $5.0 million from $8.4 million. Current liabilities also decreased significantly, from $3.1 million to $1.7 million, reflecting improved cash management and operational efficiencies. IN8Bio's cash position stood at $10.7 million, which the company indicates may not be sufficient to fund its operations for the next 12 months without additional capital.
Strategically, IN8Bio is focused on advancing its clinical programs, particularly its gamma-delta T cell therapies. The company is currently conducting a Phase 1 clinical trial for its lead product candidate, INB-100, aimed at treating acute myeloid leukemia (AML). The trial has shown promising results, with 100% of AML patients remaining in complete remission as of the latest data cutoff. Additionally, IN8Bio has introduced new product candidates, including INB-600, a T cell engager platform, which is expected to enhance its therapeutic offerings in both oncology and autoimmune diseases.
Operationally, IN8Bio has made significant strides in its clinical development pipeline, with ongoing trials for INB-200 and INB-400, although enrollment for INB-400 has been suspended to conserve cash. The company has also expanded its clinical trial sites to increase patient access and accelerate enrollment. As of September 30, 2025, IN8Bio's employee headcount has been adjusted to align with its strategic focus, contributing to reduced personnel-related costs.
Looking ahead, IN8Bio acknowledges substantial doubt about its ability to continue as a going concern without raising additional capital. The company is exploring various funding options, including equity and debt offerings, as well as potential collaborations to support its clinical development efforts. The management has indicated that while they are actively seeking to secure additional funding, the timing and terms of such financing remain uncertain, which could impact the execution of their strategic plans.
About IN8BIO, INC.
IN8bio, Inc. is a clinical-stage biopharmaceutical company developing gamma-delta T cell therapies for cancer and autoimmune diseases. Its proprietary DeltEx platform enables ex vivo expansion, genetic engineering, and scalable manufacturing of allogeneic, autologous, and iPSC-derived T cells. The company focuses on innovative immunotherapies, including T cell engagers, targeting solid and hematologic cancers to improve patient outcomes and achieve durable remissions.
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