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In8bio | 8-K: IN8bio Reports First Quarter 2024 Financial Results and Recent Corporate Highlights

SEC announcement ·  May 9 16:10
Summary by Moomoo AI
On May 9, 2024, IN8bio, Inc., a clinical-stage biopharmaceutical company, reported its financial results for the first quarter ending March 31, 2024. The company, which specializes in developing gamma-delta T cell therapies for cancer, announced significant progress in its research programs, including the presentation of new preclinical data for its non-signaling Chimeric Antigen Receptor (nsCAR) platform. This platform has shown promise in targeting cancer cells while preserving healthy tissue, particularly in treating solid and liquid tumors that have been difficult to target in the past. IN8bio also reported on the dosing of the first patient in the Phase 2 clinical trial of INB-400 for newly diagnosed glioblastoma multiforme (GBM). Financially, the company experienced an increase in R&D expenses to $4.9 million, up from $4.4 million...Show More
On May 9, 2024, IN8bio, Inc., a clinical-stage biopharmaceutical company, reported its financial results for the first quarter ending March 31, 2024. The company, which specializes in developing gamma-delta T cell therapies for cancer, announced significant progress in its research programs, including the presentation of new preclinical data for its non-signaling Chimeric Antigen Receptor (nsCAR) platform. This platform has shown promise in targeting cancer cells while preserving healthy tissue, particularly in treating solid and liquid tumors that have been difficult to target in the past. IN8bio also reported on the dosing of the first patient in the Phase 2 clinical trial of INB-400 for newly diagnosed glioblastoma multiforme (GBM). Financially, the company experienced an increase in R&D expenses to $4.9 million, up from $4.4 million in the prior year, and a slight increase in general and administrative expenses to $3.7 million. The net loss for the quarter was $8.6 million, or $0.20 per share, compared to a net loss of $7.5 million, or $0.30 per share, in the same period last year. The company's cash position was reported at $13.0 million as of March 31, 2024. IN8bio also highlighted upcoming milestones, including presentations at medical meetings and the potential submission of an IND application for a Phase 2 trial.

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