Earnings Releases·Nov 13, 2026, 4:08 PM ET

Inhibrx Biosciences — Third Quarter 2026 Earnings Summary

Revenue reached $2.0 million in Q3 2026, up from $0 in the prior year period, driven by a non-exclusive license agreement with Pfizer Inc., while net loss widened to $38.7 million ($2.46 per share) from $35.3 million ($2.28 per share) in Q3 2025.
R&D expenses decreased to $26.0 million from $28.5 million year-over-year due to reduced clinical trial costs for ozekibart, whereas G&A expenses rose to $7.8 million from $5.3 million to fund pre-commercialization activities for market access and launch.
The company's balance sheet shows a significant increase in leverage, with long-term debt rising to $276.7 million from $100.6 million at year-end 2025, resulting in a stockholders' equity deficit of $85.9 million compared to $8.0 million positive equity previously.
Clinical progress includes advancing commercial readiness for ozekibart in conventional chondrosarcoma, with Phase 1/2 Ewing sarcoma data scheduled for presentation in November 2026, while Ordastobart Phase 2 expansion enrollment continues in HNSCC with readouts expected mid-2027.
Cash and cash equivalents increased to $199.5 million as of September 30, 2026, from $124.2 million at year-end 2025, despite higher interest expenses totaling $7.0 million driven by the increased loan balance.