Inhibrx Biosciences, Inc. is a clinical-stage biopharmaceutical company, which includes a pipeline of novel biologic therapeutic candidates, developed using proprietary modular protein ...
Inhibrx Biosciences, Inc. is a clinical-stage biotechnology company focused on discovering and developing biologic medicines for patients with serious or life-threatening conditions. The company is headquartered at 11025 North Torrey Pines Road in La Jolla, California, a major biotechnology center in the San Diego region. Its operating history dates to ...Inhibrx Biosciences, Inc. is a clinical-stage biotechnology company focused on discovering and developing biologic medicines for patients with serious or life-threatening conditions. The company is headquartered at 11025 North Torrey Pines Road in La Jolla, California, a major biotechnology center in the San Diego region. Its operating history dates to 2010, when Inhibrx was co-founded by Mark P. Lappe and Brendan P. Eckelman. The current Inhibrx Biosciences legal entity was incorporated on January 8, 2024, following the restructuring of the legacy Inhibrx organization.
The company’s core competitive asset is its proprietary modular protein-engineering platform. This platform is intended to support the design of biologic molecules with optimized size, binding characteristics, valency, half-life, and functional activity. Inhibrx has emphasized multivalent formats, in which the number and arrangement of binding sites can be adjusted for a particular biological target. The objective is to improve the ability of therapeutic candidates to activate or modulate immune responses while maintaining an acceptable safety and dosing profile.
The clinical pipeline identified in the supplied company information includes INBRX-109 and INBRX-106. INBRX-109 is a multivalent therapeutic candidate directed at the death receptor 5 pathway and has been investigated in oncology indications, including solid tumors. INBRX-106 is another multivalent immune-oncology candidate designed to stimulate T-cell activity through the OX40 pathway. These programs remain development-stage assets and are therefore subject to clinical, regulatory, manufacturing, financing, and commercial risks. The company’s previously important INBRX-101 program, intended for alpha-1 antitrypsin deficiency, was sold to Sanofi in May 2024 as part of Sanofi’s acquisition of the legacy Inhibrx business.
Inhibrx operates primarily as a research and development organization rather than as a commercial pharmaceutical company. As a result, it has limited product revenue, substantial research and development expenses, and negative operating cash flow. The supplied trailing financial data show research and development spending that is very high relative to revenue, negative profitability, and negative free cash flow. The company reported approximately 110 total employees, including 109 full-time employees and one part-time employee, placing it in the 101-200 employee category. Its workforce includes scientists, clinical-development professionals, regulatory specialists, manufacturing and quality personnel, and corporate staff.
Mark P. Lappe serves as chief executive officer and chairman of the board. He co-founded Inhibrx and has led the company since its inception. The company’s principal strategic goal is to advance its remaining clinical candidates through clinical development and, if successful, obtain regulatory approval and commercialize differentiated biologic therapies. Key priorities include generating convincing clinical efficacy and safety data, managing cash efficiently, securing development funding or partnerships, protecting intellectual property, and establishing scalable manufacturing. Because the company has not yet built a broad commercial product base, its long-term value depends heavily on clinical-trial outcomes, regulatory decisions, partnering opportunities, and its ability to finance operations through development milestones.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$1.3M
+550.0%
—
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-140.1M
-108.3%
-9.6%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-91.0%
+91.3%
—
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-10386.5%
+93.7%
—
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-10773.5%
-101.3%
—
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-129.8M
+34.1%
+21.4%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-9986.5%
+89.9%
—
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
1338.8%
+22122.3%
+64.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
3.93x
-0.2%
-21.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.