Inhibrx Biosciences Reports Second Quarter Loss Amid Clinical Expansion

Research and development costs climbed to $23.9 million for the quarter, up from $22.3 million a year earlier, driven by rising clinical trial expenses and manufacturing preparations for ozekibart. General and administrative spending also grew to $8.3 million, reflecting pre-commercialization efforts as the company eyes the potential approval of ozekibart in conventional chondrosarcoma. The FDA has set a target date of April 14, 2027, for a decision on that application.

To support these operations, Inhibrx finalized a loan amendment with Oxford Finance LLC in July, providing an immediate $100 million cash infusion. This move raised the company's cash position to $219.5 million as of August 6, 2026. Looking ahead, the firm expects to provide key data on its INBRX-106 program in the third quarter of 2026 and plans to discuss accelerated regulatory pathways for its colorectal cancer programs with the FDA later this year.