The widening net loss and zero revenue reinforce the pre-revenue, high-burn profile. The PDUFA catalyst is 8 months out; near-term price action will likely be driven by cash runway updates and any interim data from the INBRX-106 HNSCC trial (PFS data expected Q3 2026). Traders should watch for the HNSCC data release as the next binary event.
Price Chart
Executive Summary
Inhibrx reported Q2 2026 EPS of -$2.34, a 26.5% miss vs the -$1.85 year-ago period, and zero revenue (vs $1.3M in Q2 2025). Net loss widened to $36.7M from $28.7M. The company highlighted a $100M Oxford loan draw and an April 2027 PDUFA date for ozekibart in chondrosarcoma, but the lack of revenue and growing cash burn are the dominant signals for a pre-commercial biotech.
Key Financial Metrics
Key Facts
- Q2 2026 net loss of $36.7M vs $28.7M in Q2 2025, a 28% YoY increase.
- EPS of -$2.34 vs -$1.85 in Q2 2025, a 26.5% YoY decline.
- Revenue was $0 in Q2 2026 vs $1.3M in Q2 2025.
- Cash and equivalents were $133.3M at June 30, 2026; post-quarter, a $100M Oxford loan draw brought pro-forma cash to $219.5M as of Aug 6, 2026.
- FDA accepted ozekibart BLA for chondrosarcoma with PDUFA date of April 14, 2027.
- R&D expense rose to $23.9M from $22.3M; G&A rose to $8.3M from $6.4M, driven by pre-commercialization costs.
Financial Impact
Net loss increased $8.0M YoY; cash burn rate (operating + other) was ~$36.7M for the quarter, partially offset by $100M debt draw.
Risk Factors
- No revenue and increasing net loss; cash runway depends on future Oxford draws or additional financing.
- PDUFA date is April 2027; any delay or negative FDA feedback on ozekibart would be a major setback.
- Interim data from INBRX-106 HNSCC trial may disappoint, removing a key pipeline catalyst.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302851356 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 11d ago | Insider Buy | $90.50 | awaiting T+60 | — | $88.61 (−2.09%) |
Sep 28, 2026 28d ago | Insider Cluster | $104.83 | awaiting T+60 | — | $88.61 (−15.47%) |
Sep 17, 2026 5w ago | Insider Cluster | $109.35 | awaiting T+60 | — | $88.61 (−18.97%) |
Sep 15, 2026 5w ago | Insider Cluster | $101.77 | awaiting T+60 | — | $88.61 (−12.93%) |
Sep 15, 2026 5w ago | 144 | $101.77 | awaiting T+60 | — | $88.61 (−12.93%) |
Sep 14, 2026 6w ago | 144 | $105.61 | awaiting T+60 | — | $88.61 (−16.10%) |
Sep 11, 2026 6w ago | 144 | $109.27 | awaiting T+60 | — | $88.61 (−18.91%) |
Sep 10, 2026 6w ago | Insider Cluster | $109.27 | awaiting T+60 | — | $88.61 (−18.91%) |
Sep 8, 2026 6w ago | Insider Cluster | $112.86 | awaiting T+60 | — | $88.61 (−21.49%) |
Sep 8, 2026 6w ago | Insider Buy | $112.86 | awaiting T+60 | — | $88.61 (−21.49%) |
US Market Status
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