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In8bio | 8-K: IN8bio Reports Fourth Quarter and Full-Year 2023 Financial Results and Recent Business Highlights

SEC announcement ·  Mar 14 16:10
Summary by Moomoo AI
On March 14, 2024, IN8bio, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the fourth quarter and the fiscal year ended December 31, 2023. The announcement was made through a press release and was furnished as Exhibit 99.1 to the Current Report on Form 8-K. The company reported significant clinical progress, including positive results from Phase 1 studies of INB-100 in leukemia and INB-200 in newly diagnosed Glioblastoma (GBM). IN8bio also announced the appointment of Dr. Corinne Epperly to its Board of Directors and the closing of a private placement in December 2023, which provided initial gross proceeds of $14.4 million, extending the company's cash runway into the first quarter of 2025. Research and Development expenses for the year ended December 31, 2023, were $16.8 million, an increase from the...Show More
On March 14, 2024, IN8bio, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the fourth quarter and the fiscal year ended December 31, 2023. The announcement was made through a press release and was furnished as Exhibit 99.1 to the Current Report on Form 8-K. The company reported significant clinical progress, including positive results from Phase 1 studies of INB-100 in leukemia and INB-200 in newly diagnosed Glioblastoma (GBM). IN8bio also announced the appointment of Dr. Corinne Epperly to its Board of Directors and the closing of a private placement in December 2023, which provided initial gross proceeds of $14.4 million, extending the company's cash runway into the first quarter of 2025. Research and Development expenses for the year ended December 31, 2023, were $16.8 million, an increase from the previous year, primarily due to increased personnel costs and clinical trial activities. General and Administrative expenses decreased compared to the prior year, resulting in a net loss of $30.0 million, or $1.00 per basic and diluted common share. The company's cash position as of December 31, 2023, was $21.3 million. IN8bio's pipeline includes several anticipated milestones for 2024, such as the enrollment of additional patients in clinical trials, long-term follow-up results, and potential submission of investigational new drug applications.

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