In8bio, Inc. ( (INAB) ) has released its Q3 earnings. Here is a breakdown of the information In8bio, Inc. presented to its investors.
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IN8bio, Inc. is a clinical-stage biopharmaceutical company specializing in gamma-delta T cell-based immunotherapies for cancer treatment, with a focus on leukemia and glioblastoma.
In8bio recently announced its financial results for the third quarter of 2024, highlighting significant advancements in its INB-100 program for Acute Myeloid Leukemia (AML). The company reported that all AML patients treated with INB-100 remain in complete remission, with plans to expand the trial and add observational cohorts. Additionally, they secured $11.6 million in a private placement, extending their financial runway into 2026.
Key financial metrics reveal a decrease in research and development expenses from $3.8 million to $3.3 million due to workforce reductions and pipeline prioritization. General and administrative expenses also decreased, contributing to a net loss of $7.1 million, slightly less than the previous year’s $7.2 million. The company ended the quarter with $4 million in cash, supplemented by the recent private placement.
Strategically, IN8bio has focused on optimizing resources by suspending the INB-400 Phase 2 trial while continuing to monitor previously treated patients. They plan to present updated trial results at upcoming medical conferences, enhancing their profile in the biopharmaceutical sector.
Looking ahead, IN8bio is poised to advance its INB-100 program following FDA guidance and continues to explore partnerships for assets within its pipeline. The company’s strategic realignment and recent financial infusion position it to capitalize on the potential of its gamma-delta T cell therapies.
