IN8Bio Reports Improved Financial Results with Reduced Losses in Q2 2025

IN8Bio, Inc. has reported its financial results for the second quarter of 2025, revealing a net loss of $5.1 million, a significant improvement from the $8.6 million loss recorded in the same period last year. For the six months ending June 30, 2025, the company reported a net loss of $10.6 million, down from $17.2 million in the prior year. The reduction in losses is attributed to a decrease in operating expenses, which totaled $5.2 million for the quarter, compared to $8.7 million in the previous year. This decline was primarily driven by lower research and development costs, which fell to $2.5 million from $5.2 million, reflecting a strategic focus on cost management.

The company’s total assets as of June 30, 2025, amounted to $19.4 million, a decrease from $20.9 million at the end of 2024. Current assets increased to $13.7 million, primarily due to a rise in cash reserves, which reached $13.2 million, up from $11.1 million at the end of the previous fiscal year. IN8Bio's total liabilities also decreased significantly to $4.1 million from $6.5 million, indicating improved financial health. The company’s stockholders' equity rose to $15.2 million, compared to $14.5 million at the end of 2024, reflecting the issuance of common stock and a reduction in accumulated deficit.

Strategically, IN8Bio has made notable advancements in its clinical programs, particularly with its lead product candidate, INB-100, which is currently in a Phase 1 clinical trial for acute myeloid leukemia (AML). The company has reported 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 aims to enhance the efficacy of gamma-delta T cells in treating various cancers and autoimmune diseases.

Operationally, IN8Bio has focused on cash preservation measures to extend its financial runway, as it has not yet generated product sales. The company anticipates that its existing cash will not be sufficient to cover projected operating expenses for the next 12 months, raising concerns about its ability to continue as a going concern. To address this, management is exploring options for raising additional capital through equity and debt offerings, as well as potential strategic collaborations. The company has also indicated that it may receive up to $1.7 million from the exercise of outstanding Series A warrants and $8.1 million from Series C warrants, which could provide additional liquidity.

Looking ahead, IN8Bio remains committed to advancing its clinical trials and expanding its product pipeline, while navigating the challenges of funding and market conditions. The company’s focus on innovative therapies for unmet medical needs positions it for potential growth, although the path to commercialization remains contingent on successful clinical outcomes and securing necessary financing.