IN8bio (INAB) AI Stock Analysis

• Market Cap: $10.24M
• Dividend Yield: N/A
• Average Volume (3M): 74.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.80
• Revenue Growth: N/A
• EPS Growth: 70.57%
• Country: US
• Employees: 18
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.85
• Shares Outstanding: 4,634,396
• 10 Day Avg. Volume: 64,995
• 30 Day Avg. Volume: 74,576
• PEG Ratio: 0.32
• Price to Book (P/B): 28.55
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -17.04
• Enterprise Value/Market Cap: -0.15
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: 0.08
• 1Y Price Target: $5.00
• Price Target Upside: 126.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $2.00 ▼(-9.50% Downside)

The score is held back primarily by weak financial fundamentals typical of a pre-revenue biotech (ongoing losses/cash burn and equity erosion). Offsetting factors include constructive near-term technical momentum and supportive corporate catalysts (positive trial/preclinical updates and a structured financing that improves liquidity runway).

Positive Factors

Innovative Technology Platform

IN8bio's proprietary technology platform for gamma-delta T cell therapies positions it at the forefront of cancer immunotherapy, offering potential breakthroughs in treating solid tumors and hematologic malignancies.

Strategic Partnerships

IN8bio's collaborations with biotech and pharma companies provide critical funding and development support, enhancing its ability to advance therapies and potentially accelerate commercialization.

R&D Focus

High R&D investment underscores IN8bio's commitment to innovation and long-term growth, aiming to develop effective cancer treatments that could transform patient outcomes.

Negative Factors

Operational Losses

Persistent operational losses highlight financial strain and the challenge of achieving profitability, which may impact long-term sustainability if not addressed.

Declining Equity

The significant decline in equity reflects heavy reliance on equity financing, potentially limiting future funding options and increasing financial risk.

Negative Cash Flows

Negative cash flows indicate liquidity challenges, with continued reliance on external financing posing risks if funding sources diminish, affecting operational continuity.

IN8bio Business Overview & Revenue Model

Company Description

IN8bio, Inc., a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of gamma-delta T cell therapies for the treatment of cancers. Its lead product candidate includes INB-200, a genetically modified autologous gamma-delta T cell product candidate that is in Phase I clinical trial for the treatment of glioblastoma and solid tumors; and INB-100, an allogeneic product candidate, which is in Phase I clinical trial to treat patients with acute leukemia undergoing hematopoietic stem cell transplantation. It also develops INB-400 and INB-300 that is in preclinical Phase for treatment of various solid tumor cancers. The company was formerly known as Incysus Therapeutics, Inc. and changed its name to IN8bio, Inc. in August 2020. IN8bio, Inc. was incorporated in 2016 and is headquartered in New York, New York.

How the Company Makes Money

IN8bio generates revenue primarily through collaborations and strategic partnerships with other biotechnology and pharmaceutical companies. These partnerships involve licensing agreements, milestone payments, and royalties linked to the development and commercialization of its proprietary gamma-delta T cell therapies. Additionally, the company may receive funding from grants and research support from governmental agencies or non-profit organizations interested in advancing cancer immunotherapy research. As IN8bio progresses towards commercialization, revenue streams may also include direct sales of approved therapies, pending successful clinical trials and regulatory approvals.

IN8bio Financial Statement Overview

Summary

IN8bio's financial performance reflects a typical biotechnology company in the developmental stage, with a strong reliance on external funding due to non-existent revenues and substantial operational losses. While the company has managed to secure financing to support operations, the declining equity and significant negative cash flows present financial stability challenges in the long term.

Income Statement

IN8bio has consistently reported zero revenue over the years, which is typical for early-stage biotechnology firms that rely on funding rather than sales. The company has reported increasing net losses annually, with a net income of -$30.4 million in the most recent year, reflecting significant operational expenses and R&D costs.

Balance Sheet

The company's balance sheet shows a declining stockholders' equity from $38.2 million in 2021 to $14.5 million in 2024, indicating substantial use of equity to fund operations. The debt-to-equity ratio has increased, reflecting increased reliance on debt despite a relatively low total debt level. The equity ratio has also decreased, indicating a higher proportion of liabilities in the capital structure.

Cash Flow

IN8bio's cash flow statements reveal large negative free cash flows, primarily due to substantial operating cash outflows. The company has been relying heavily on financing activities to fund its operations, as seen in significant financing cash inflows. This pattern highlights potential liquidity risks if external financing becomes unavailable.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	-2.50M	-1.10M	0.00	0.00
EBITDA	-18.26M	-26.94M	-27.51M	-27.42M	-13.87M	-8.47M
Net Income	-20.66M	-30.44M	-30.01M	-28.52M	-14.65M	-8.56M
Balance Sheet
Total Assets	16.77M	20.94M	33.71M	33.04M	42.22M	20.91M
Cash, Cash Equivalents and Short-Term Investments	10.69M	11.12M	21.28M	18.18M	37.02M	17.99M
Total Debt	2.96M	5.03M	4.89M	5.87M	2.41M	174.00K
Total Liabilities	3.58M	6.47M	8.77M	10.31M	4.04M	2.59M
Stockholders Equity	13.19M	14.48M	24.94M	22.73M	38.18M	18.32M
Cash Flow
Free Cash Flow	-14.63M	-24.25M	-23.94M	-27.83M	-13.82M	-7.13M
Operating Cash Flow	-14.60M	-24.15M	-23.34M	-24.12M	-13.51M	-7.13M
Investing Cash Flow	-33.00K	-187.00K	-600.00K	-3.71M	-309.00K	0.00
Financing Cash Flow	21.34M	14.18M	27.04M	8.99M	32.95M	24.52M

IN8bio Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.21
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INAB, the sentiment is Positive. The current price of 2.21 is above the 20-day moving average (MA) of 2.09, above the 50-day MA of 1.87, and below the 200-day MA of 2.69, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 58.87 is Neutral, neither overbought nor oversold. The STOCH value of 26.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INAB.

IN8bio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INAB	52 Neutral	$10.24M	-0.35	-189.72%	―	―	70.57%
QNRX	52 Neutral	$6.63M	-0.02	-655.85%	―	―	-228.89%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VYNE	49 Neutral	$18.86M	-0.72	-70.67%	―	6.29%	7.42%
APRE	43 Neutral	$6.29M	-0.42	-74.72%	―	-62.75%	23.87%
XBIO	42 Neutral	$5.06M	-1.11	-57.43%	―	13.30%	22.70%

IN8bio Corporate Events

IN8bio Announces Structured $40 Million Private Placement Financing

On December 18, 2025, IN8bio, Inc. entered into a securities purchase agreement for a private placement of common stock and pre-funded warrants in two potential tranches, aiming to raise approximately $40.2 million in gross proceeds before fees if both closings occur. The initial closing, expected on or about December 22, 2025, will provide about $20.1 million through the sale of 5,127,029 shares at $1.38 per share and pre-funded warrants for 9,452,677 shares at $1.3799 each, while a second $20.1 million tranche is contingent on achieving specified development and share-price milestones tied to its INB-619 product candidate or an investor waiver, with investors also receiving registration rights for resale and participation rights in future equity financings, underscoring a structured approach to funding that links additional capital to clinical progress and market performance.

The most recent analyst rating on (INAB) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on IN8bio stock, see the INAB Stock Forecast page.

IN8bio Presents Promising Clinical Trial Results

IN8bio, Inc. presented data from its Phase 1 and Phase 2 clinical trials of INB-200 and INB-400 at the 2025 Society for Neuro-Oncology Annual Meeting. The trials involved 17 patients treated with the company’s DeltExTM Drug Resistant Immunotherapy, showing promising results with a median progression-free survival of 13.0 months compared to 6.6 months for standard-of-care patients. The median overall survival for treated patients has not been reached and continues to improve, currently at 16.4+ months, whereas standard-of-care patients reached a median overall survival of 11.0 months.

The most recent analyst rating on (INAB) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on IN8bio stock, see the INAB Stock Forecast page.

IN8bio Unveils Promising Preclinical Data for INB-619

On October 27, 2025, IN8bio presented new preclinical data for its γδ T cell engager program, INB-619, at the American College of Rheumatology Convergence Meeting in Chicago. The data demonstrated that INB-619 achieved complete B cell depletion with efficacy comparable to FDA-approved compounds, while minimizing adverse cytokine release. This highlights the potential of INB-619 to transform autoimmune disease treatment by safely and precisely eliminating pathogenic B cells and driving immune reset, showcasing IN8bio’s capabilities in γδ T cell biology.

The most recent analyst rating on (INAB) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on IN8bio stock, see the INAB Stock Forecast page.