Instil Bio (TIL) AI Stock Analysis

• Market Cap: $48.08M
• Dividend Yield: N/A
• Average Volume (3M): 192.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 5.14
• Revenue Growth: N/A
• EPS Growth: 1.40%
• Country: US
• Employees: 14
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -2.01
• Shares Outstanding: 6,781,976
• 10 Day Avg. Volume: 66,908
• 30 Day Avg. Volume: 192,985
• PEG Ratio: 0.03
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.89
• Enterprise Value/Market Cap: 2.66
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -169.92
• Enterprise Value/Ebitda: -1.91
• 1Y Price Target: $7.00
• Price Target Upside: -2.23% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): -11.22
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $7.00 ▼(-2.23% Downside)

The score is weighed down primarily by weak financial performance (pre-revenue, sizable losses, and ongoing cash burn with shrinking equity) and bearish technicals (price far below major moving averages and negative MACD). Valuation provides limited support due to a negative P/E and no dividend, while the recent licensing termination adds incremental strategic risk.

Positive Factors

Specialized TIL/cell therapy focus

A focused, technical platform in TIL and cell-based immunotherapies represents a durable competitive position in difficult-to-treat solid tumors. Deep expertise and proprietary approaches can create high entry barriers, attract partnerships, and drive long-term value if clinical proofs succeed.

Improving cash burn trend

Lowering cash burn versus prior years is a meaningful structural improvement: it extends runway, reduces near-term financing pressure, and increases optionality to advance key trials or seek strategic partnerships without immediate dilutive capital raises.

Manageable leverage vs assets

A balance sheet with material assets and debt that is manageable relative to asset base provides financial flexibility to fund development-stage activities. This supports continued R&D and potential licensing or M&A options before cash exhaustion becomes critical.

Negative Factors

Pre-revenue, negative cash flow

Being pre-revenue with sustained negative operating and free cash flow is a persistent structural risk: the business must rely on external funding or partnerships to continue trials, exposing shareholders to dilution and making long-term success contingent on clinical outcomes.

Eroding shareholders' equity

Material declines in equity over multiple years signal capital erosion from ongoing losses. This weakens the company's financial buffer, reduces flexibility to withstand trial delays, and increases the likelihood of dilutive financings or costly debt if progress stalls.

Loss of ex-China rights to two assets

Termination of the ImmuneOnco license removes ex-China rights to AXN-2510 and AXN-27M, a structural hit to pipeline breadth and potential future revenue streams. It narrows strategic options, reduces partnership-led development upside, and concentrates clinical and commercial risk.

Instil Bio Business Overview & Revenue Model

Company Description

Instil Bio, Inc., a clinical-stage biopharmaceutical company, develops therapies for the treatment of patients with cancer. The company develops cell therapy of autologous tumor infiltrating lymphocyte (TIL). Its TIL product candidates in pipeline include ITIL-168 for indications, such as melanoma, cutaneous squamous cell carcinoma, non-small cell lung cancer, head and neck squamous cell carcinoma, and cervical cancer; and ITIL-306 to recognize folate receptor alpha (FOLR1) with indications, including gynecological, non-small cell lung cancer, renal caner, and others. The company was incorporated in 2018 and is headquartered in Dallas, Texas.

How the Company Makes Money

Instil Bio generates revenue primarily through the development and commercialization of its TIL-based therapies. The company may enter into strategic partnerships and collaborations with other biotech firms, research institutions, or pharmaceutical companies to co-develop and commercialize therapies, which can include upfront payments, milestone payments, and royalties based on sales. Additionally, as its products move through clinical trials and, if successful, receive regulatory approval, revenue can be generated from the sale of these therapies to healthcare providers and institutions treating cancer patients. Other potential revenue streams could include licensing its technology to other companies in the biotechnology and pharmaceutical sectors.

Instil Bio Financial Statement Overview

Summary

Development-stage profile with essentially zero revenue, large ongoing losses, and negative operating/free cash flow (~-$40.1M TTM). Balance sheet support exists, but equity has declined to ~ $120.4M while debt is ~ $84.9M, indicating continued funding/runway risk despite some improvement versus prior-year burn.

Income Statement

Instil Bio is still pre-revenue (revenue is essentially zero across annual periods and TTM (Trailing-Twelve-Months)), and losses remain substantial. While the TTM (Trailing-Twelve-Months) net loss (~$75.1M) is improved versus 2023–2022, profitability is still deeply negative and the margin profile is not yet meaningful given minimal revenue, indicating the business remains dependent on pipeline progress rather than operating earnings.

Balance Sheet

The balance sheet shows a shrinking capital base over time, with stockholders’ equity declining materially from 2021 to TTM (Trailing-Twelve-Months) (~$120.4M), consistent with ongoing losses and cash burn. Debt is present (~$84.9M TTM (Trailing-Twelve-Months)); leverage appears manageable relative to assets (~$211.8M), but negative returns on equity and the continued equity erosion raise financial flexibility risk if the company needs to fund operations for an extended period.

Cash Flow

Cash generation remains negative, with TTM (Trailing-Twelve-Months) operating cash flow and free cash flow both around -$40.1M, and free cash flow deteriorating versus the prior period (negative growth). The company’s cash burn has improved significantly compared with earlier years (e.g., 2022–2023), but it is still consuming cash each year, which increases reliance on existing cash reserves and/or future capital raises.

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	138.00K
Gross Profit	-753.00K	0.00	0.00	-5.99M	0.00	138.00K
EBITDA	-66.93M	-62.53M	-147.12M	-217.38M	-152.51M	-33.39M
Net Income	-75.08M	-74.14M	-156.09M	-223.18M	-156.79M	-37.74M
Balance Sheet
Total Assets	211.77M	263.57M	325.63M	482.13M	609.98M	319.01M
Cash, Cash Equivalents and Short-Term Investments	79.67M	113.31M	150.36M	260.92M	454.10M	241.71M
Total Debt	84.92M	86.89M	86.05M	79.90M	0.00	0.00
Total Liabilities	91.35M	94.13M	99.80M	118.52M	54.78M	26.64M
Stockholders Equity	120.42M	169.44M	225.83M	363.61M	555.20M	292.37M
Cash Flow
Free Cash Flow	-40.10M	-65.70M	-102.69M	-264.75M	-179.97M	-80.43M
Operating Cash Flow	-40.10M	-55.70M	-82.03M	-180.16M	-122.14M	-29.62M
Investing Cash Flow	30.66M	53.97M	41.13M	114.54M	-474.40M	-51.12M
Financing Cash Flow	8.89M	1.75M	8.08M	71.89M	393.16M	313.05M

Instil Bio Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.16
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TIL, the sentiment is Negative. The current price of 7.16 is below the 20-day moving average (MA) of 7.93, below the 50-day MA of 10.16, and below the 200-day MA of 19.41, indicating a bearish trend. The MACD of -1.07 indicates Negative momentum. The RSI at 32.37 is Neutral, neither overbought nor oversold. The STOCH value of 55.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TIL.

Instil Bio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ZNTL	53 Neutral	$184.96M	-1.20	-49.18%	―	-33.76%	17.54%
ALXO	53 Neutral	$74.28M	-0.77	-118.95%	―	―	31.98%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SRZN	50 Neutral	$185.87M	-1.01	―	―	-63.96%	-28.50%
TCRX	49 Neutral	$60.15M	-0.93	-76.44%	―	-10.03%	11.06%
NKTX	47 Neutral	$175.44M	-1.75	-26.69%	―	―	25.84%
TIL	44 Neutral	$48.08M	―	-50.60%	―	―	1.40%

Instil Bio Corporate Events

Instil Bio Ends Key Oncology Licensing Agreement with ImmuneOnco

On January 5, 2026, Instil Bio’s subsidiary Axion Bio and ImmuneOnco Biopharmaceuticals mutually terminated their August 1, 2024 license and collaboration agreement, which had granted Axion ex-China development and commercial rights to the drug candidates AXN-2510 and AXN-27M. The termination marks a strategic shift for Instil Bio and Axion, as they will no longer pursue these assets outside China, potentially altering the company’s pipeline composition and its future positioning in the competitive oncology and immunotherapy markets, while also affecting expectations for any previously anticipated revenue or partnership synergies tied to these programs.

The most recent analyst rating on (TIL) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Instil Bio stock, see the TIL Stock Forecast page.