Inhibrx Q3 net loss widens on higher G&A expenses
Overview
US biopharma firm's Q3 net loss was a slight beat versus analyst estimates
Q3 loss per share beat analyst expectations
License fee revenue rose to $2 mln on Pfizer agreement
Outlook
Company expects initial Phase 2 readout for ordastobart (INBRX-106) in HNSCC around mid-2027
Company expects initial results for ordastobart (INBRX-106) in perioperative NSCLC in mid-2027
Commercial readiness activities for ozekibart (INBRX-109) in chondrosarcoma advancing in line with regulatory review timeline
Result Drivers
PFIZER LICENSE REVENUE - Co recognized $2 mln in license fee revenue from a non-exclusive license agreement with Pfizer
LOWER R&D COSTS - Research and development expenses fell due to decreased clinical trial costs and reduced headcount, partly offset by higher contract manufacturing expenses
HIGHER G&A EXPENSES - General and administrative expenses increased due to pre-commercialization activities for ozekibart
INCREASED INTEREST EXPENSE - Other expenses rose mainly due to higher interest expense on increased loan balance
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Loss Per Share | Beat | $2.46 | $2.52 (3 Analysts) |
Q3 Net Loss | Slight Beat* | $38.73 mln | $38.85 mln (3 Analysts) |
Q3 Operating Income | Beat | -$31.74 mln | -$35.46 mln (3 Analysts) |
Q3 License Fee Revenue | $2 mln | ||
Q3 Operating Expenses | $33.74 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Inhibrx Biosciences Inc is $245.00, about 179.2% above its November 12 closing price of $87.75
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)