Instil Bio (TIL) AI Stock Analysis

• Market Cap: $45.17M
• Dividend Yield: N/A
• Average Volume (3M): 137.50K
• Price to Earnings (P/E): ―
• Beta (1Y): 5.26
• 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: 309,051
• 30 Day Avg. Volume: 137,505
• PEG Ratio: 0.03
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.23
• Enterprise Value/Market Cap: 2.78
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -166.88
• Enterprise Value/Ebitda: -1.88
• 1Y Price Target: $7.00
• Price Target Upside: -2.51% 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 ▼(-2.51% 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

Instil Bio is facing significant financial challenges, characterized by no revenue generation, ongoing losses, and negative cash flows. While the balance sheet shows liquidity strength, the reliance on equity financing poses dilution risks. The company's financial health is precarious, requiring substantial strategic shifts to achieve sustainable operations.

Income Statement

Instil Bio has reported no revenue for several consecutive years, indicating significant challenges in monetizing its technology or products. The absence of revenue coupled with consistent and substantial net losses highlight severe profitability issues. Although there is a reduction in net loss from the prior year, the company still faces major financial hurdles.

Balance Sheet

The company maintains a reasonable cash position with cash and short-term investments of $113 million, providing some liquidity. However, the debt-to-equity ratio is low due to minimal debt, which is a positive. The equity ratio indicates a strong reliance on equity financing, suggesting potential dilution risks for investors. Overall, the balance sheet shows liquidity strength but significant equity erosion over time.

Cash Flow

Operating cash flow remains deeply negative, reflecting ongoing operational losses. There is a notable decrease in negative free cash flow from the previous year, indicating some improvement in cash management. However, consistent negative cash flow from operations poses a significant risk to financial sustainability without additional financing.

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: 7.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• 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 7.18 is below the 20-day moving average (MA) of 10.76, below the 50-day MA of 12.71, and below the 200-day MA of 20.08, indicating a bearish trend. The MACD of -1.01 indicates Positive momentum. The RSI at 30.43 is Neutral, neither overbought nor oversold. The STOCH value of 37.31 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
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ZNTL	50 Neutral	$128.61M	-1.16	-49.18%	―	-33.76%	17.54%
SRZN	50 Neutral	$168.60M	-0.91	―	―	-63.96%	-28.50%
NKTX	48 Neutral	$137.09M	-1.48	-26.69%	―	―	25.84%
ALXO	48 Neutral	$58.56M	-0.58	-118.95%	―	―	31.98%
TCRX	48 Neutral	$64.69M	-1.05	-76.44%	―	-10.03%	11.06%
TIL	44 Neutral	$45.17M	―	-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.