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In8bio | 10-K: Annual report

SEC announcement ·  Mar 14 16:20
Summary by Moomoo AI
In8bio, a clinical-stage biopharmaceutical company, has reported its financial condition and business developments in its latest annual report. The company, which focuses on the development of gamma-delta T cell therapies for cancer, has not generated revenue from product sales and has incurred net losses since inception. As of December 31, 2023, In8bio had cash reserves of $21.3 million, which are projected to fund operations into January 2025. The company's research and development expenses increased by $2.8 million year-over-year, primarily due to increased headcount and related costs. General and administrative expenses decreased by $1.0 million due to cost savings in insurance premiums and professional services. In8bio has implemented cash preservation measures to extend its financial runway and is exploring additional funding options, including equity and...Show More
In8bio, a clinical-stage biopharmaceutical company, has reported its financial condition and business developments in its latest annual report. The company, which focuses on the development of gamma-delta T cell therapies for cancer, has not generated revenue from product sales and has incurred net losses since inception. As of December 31, 2023, In8bio had cash reserves of $21.3 million, which are projected to fund operations into January 2025. The company's research and development expenses increased by $2.8 million year-over-year, primarily due to increased headcount and related costs. General and administrative expenses decreased by $1.0 million due to cost savings in insurance premiums and professional services. In8bio has implemented cash preservation measures to extend its financial runway and is exploring additional funding options, including equity and/or debt offerings, and strategic collaborations. The company has raised capital through a private placement and an at-the-market (ATM) program, with net proceeds of approximately $13.5 million from the private placement and $14.4 million from the ATM program. In8bio's future plans include continuing clinical development of its product candidates, advancing preclinical programs, and seeking potential collaborative partners. The company's lead product candidate, INB-400, is in a Phase 2 clinical trial for the treatment of glioblastoma, and it has received Orphan Drug Designation from the FDA. In8bio also plans to submit an IND for a Phase 1b/2 clinical trial of INB-400 in 2025. The company's pipeline includes preclinical programs such as INB-300, which targets solid and liquid tumors, and it is expanding its DeltEx platform capabilities to include iPSC derived gamma-delta T cells.

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