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Inhibrx Biosciences Secures $150M Loan for Growth

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An update from Inhibrx Biosciences Inc ( (INBX) ) is now available.

Inhibrx Biosciences, Inc. announced a loan and security agreement with Oxford Finance LLC, securing a term loan facility of up to $150 million, with an initial funding of $100 million. The agreement, which includes issuing warrants to the lenders, provides Inhibrx with strategic financial flexibility to advance its clinical programs, INBRX-109 and INBRX-106, both expected to have key data readouts in 2025. This financial support is anticipated to bolster Inhibrx’s position in the biopharmaceutical industry, aiding in the further development of its innovative therapeutic pipeline.

More about Inhibrx Biosciences Inc

Inhibrx Biosciences, Inc. is a clinical-stage biopharmaceutical company focusing on developing a broad pipeline of novel biologic therapeutic candidates. The company utilizes diverse protein engineering methods to address complex target and disease biology, leveraging proprietary protein engineering platforms. With ongoing programs such as INBRX-109 and INBRX-106, Inhibrx aims to optimize therapeutic candidates for specific biological targets.

YTD Price Performance: -6.82%

Average Trading Volume: 69,185

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $205.7M

For detailed information about INBX stock, go to TipRanks’ Stock Analysis page.

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