In8bio, Inc. ( (INAB) ) has released its Q2 earnings. Here is a breakdown of the information In8bio, Inc. presented to its investors.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
In8bio, Inc. is a clinical-stage biopharmaceutical company focused on developing gamma-delta T cell therapies for unmet medical needs, particularly in the field of oncology. The company is actively engaged in advancing its lead product candidate, INB-100, in clinical trials for acute myeloid leukemia, along with a portfolio of other programs targeting various cancers and diseases.
In its latest earnings report, In8bio, Inc. highlighted a decrease in operating expenses and net loss compared to the previous year, reflecting the company’s ongoing efforts to optimize its financial operations. The report also noted the company’s strategic focus on cash preservation to maintain financial flexibility amidst challenging market conditions for biotechnology stocks.
Key financial metrics revealed a reduction in research and development expenses from $5.16 million to $2.49 million for the quarter, and a decrease in general and administrative expenses from $3.53 million to $2.71 million. Despite these reductions, the company reported a net loss of $5.09 million for the quarter, an improvement from the $8.63 million loss in the same period last year. The company’s cash position increased to $13.23 million, up from $11.12 million at the end of 2024, primarily due to proceeds from stock issuances.
Looking ahead, In8bio, Inc. remains committed to advancing its clinical programs and exploring strategic collaborations to support its development efforts. The management acknowledges the financial challenges but remains focused on securing additional capital to sustain operations and achieve its long-term objectives.