Inhibrx Biosciences Reports $36.7 Million Net Loss in Q2 2026

Inhibrx Biosciences, Inc. reported its financial results for the second quarter of 2026, revealing a net loss of $36.7 million, or $2.34 per share, compared to a net loss of $28.7 million, or $1.85 per share, in the same period last year. The company did not generate any revenue during the quarter, a significant decline from the $1.3 million in license fee revenue recorded in the second quarter of 2025. For the first half of 2026, Inhibrx's net loss was $70.1 million, slightly improved from a loss of $72.0 million in the first half of 2025.

Operating expenses for the second quarter increased by 12% to $32.1 million, driven primarily by a 7% rise in research and development costs, which totaled $23.9 million. This increase was attributed to higher contract manufacturing and clinical trial expenses related to ongoing studies for its therapeutic candidates, ozekibart (INBRX-109) and INBRX-106. General and administrative expenses also rose by 28% to $8.3 million, reflecting increased pre-commercialization activities and personnel-related costs.

In terms of financial position, Inhibrx reported total assets of $154.2 million as of June 30, 2026, up from $146.5 million at the end of 2025. The company’s cash and cash equivalents increased to $133.3 million, compared to $124.2 million at the end of the previous year. However, total liabilities surged to $207.2 million, primarily due to an increase in long-term debt, which rose to $176.3 million following amendments to its loan agreement with Oxford Finance LLC.

Strategically, Inhibrx has been advancing its clinical pipeline, with ozekibart currently under review by the FDA for potential approval in treating conventional chondrosarcoma. The company has initiated additional Phase 1 cohorts for ozekibart and is preparing for a Phase 3 trial for INBRX-106. Inhibrx anticipates that its existing cash will be sufficient to fund operations for at least the next 12 months, but it may seek additional financing through equity offerings or collaborations to support its ongoing development efforts.

Looking ahead, Inhibrx remains focused on advancing its therapeutic candidates through clinical trials and obtaining regulatory approvals. The company acknowledges the inherent risks and uncertainties in drug development, including potential delays and the need for additional funding, which could impact its operational plans and financial condition.