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Inhibrx Biosciences, Inc., a clinical-stage biopharmaceutical company, engages in the development of biologic therapeutics for people with life-threatening conditions. Its therapeutic candidates include INBRX-109, which is in phase 1, a tetravalent therapeutic candidate targeting death-receptor 5 to treat unresectable or metastatic conventional chondrosarcoma; and INBRX-106, a hexavalent sdAb-based therapeutic candidate targeting OX4 for the treatment of metastatic solid tumor, non-small cell lung cancer, melanoma, head non-small cell lung cancer cell carcinoma, gastric or gastroesophageal junction adenocarcinoma, renal cell carcinoma, and urothelial cell carcinoma. Inhibrx Biosciences, Inc. was incorporated in 2024 and is based in La Jolla, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1M | $-125M | $-140M | $-130M | -1752.2% | 550.0% | -108.3% |
| 2024 | $0M | $1.7B | $1.7B | $-197M | 1263.3% | -88.9% | -799.2% |
| 2023 | $2M | $-207M | $-241M | $-198M | -554.8% | 38.4% | 109.3% |
| 2022 | $1M | $-114M | $-115M | $-91M | 1579.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1.30 | 1.80 | 0.20 | 1.30 |
| Operating Revenue | 1.30 | 1.80 | 0.20 | 1.30 |
| Operating Expense | 116.62 | 221.02 | 331.65 | 136.32 |
| Research And Development | 101.60 | 191.64 | 203.74 | 113.03 |
| Selling General And Administration | 15.04 | 29.38 | 127.50 | 23.12 |
| Total Expenses | 116.62 | 221.02 | 331.65 | 136.32 |
| Operating Income | -115.32 | -219.22 | -331.45 | -135.02 |
| Total Operating Income As Reported | -115.32 | -219.22 | -331.45 | -135.02 |
| EBITDA | -114.10 | -206.69 | 1,703.35 | -125.37 |
| Normalized EBITDA | -114.10 | -206.69 | -318.15 | -125.37 |
| EBIT | -115.32 | -207.88 | 1,701.06 | -127.86 |
| Interest Income | - | 11.92 | 10.94 | 7.55 |
| Interest Expense | - | 31.84 | 13.49 | 12.20 |
| Net Interest Income | - | -19.92 | -2.55 | -4.65 |
| Other Non Operating Income Expenses | 0 | -0.58 | 0.08 | -0.38 |
| Other Income Expense | 0 | -0.58 | 2,021.57 | -0.38 |
| Interest Income Non Operating | - | 11.92 | 10.94 | 7.55 |
| Interest Expense Non Operating | - | 31.84 | 13.49 | 12.20 |
| Net Non Operating Interest Income Expense | - | -19.92 | -2.55 | -4.65 |
| Pretax Income | -115.32 | -239.72 | 1,687.57 | -140.05 |
| Tax Provision | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | -115.32 | -241.36 | 1,687.57 | -140.06 |
| Net Income From Continuing And Discontinued Operation | -115.32 | -241.36 | 1,687.57 | -140.06 |
| Net Income From Continuing Operation Net Minority Interest | -115.32 | -241.36 | 1,687.57 | -140.06 |
| Net Income | -115.32 | -241.36 | 1,687.57 | -140.06 |
| Net Income Common Stockholders | -115.32 | -241.36 | 1,687.57 | -140.06 |
| Net Income Including Noncontrolling Interests | -115.32 | -241.36 | 1,687.57 | -140.06 |
| Normalized Income | -115.32 | -241.36 | -333.92 | -140.06 |
| Diluted NI Availto Com Stockholders | -115.32 | -241.36 | 1,687.57 | -140.06 |
| Basic Average Shares | 14.24 | 14.24 | 14.80 | 15.49 |
| Diluted Average Shares | 14.24 | 14.24 | 14.98 | 15.49 |
| Reconciled Depreciation | 1.23 | 1.19 | 2.28 | 2.48 |
| Total Unusual Items | - | 0 | 2,021.50 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | 2,021.50 | 0 |
| Earnings From Equity Interest Net Of Tax | 0 | -1.63 | 0 | - |
| Special Income Charges | - | 0 | 2,021.50 | 0 |
| Restructuring And Mergern Acquisition | - | 0 | -2,021.50 | 0 |
| Depreciation Amortization Depletion Income Statement | - | - | 0.40 | 0.18 |
| Depreciation And Amortization In Income Statement | - | - | 0.40 | 0.18 |
| General And Administrative Expense | 15.04 | 29.38 | 127.50 | 23.12 |
| Other Gand A | 15.04 | 29.38 | 127.50 | 23.12 |
| Other Operating Expenses | -0.01 | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Inhibrx Biosciences, Inc.this co. | INBX | $1.3B | -9.56 | 167.49 | -1752.2% | -10.54 |
| Butterfly Network, Inc. | BFLY | $1.4B | - | 6.93 | -39.3% | - |
| UroGen Pharma Ltd. | URGN | $1.3B | -8.76 | -12.75 | 145.5% | -10.04 |
| Bicara Therapeutics Inc. | BCAX | $1.3B | -9.72 | 3.34 | -34.4% | -8.01 |
| Ardelyx, Inc. | ARDX | $1.3B |
| -21.66 |
| 7.99 |
| -36.9% |
| -50.52 |
| Tandem Diabetes Care, Inc. | TNDM | $1.3B | -6.51 | 8.59 | -131.9% | -9.55 |
| AdaptHealth Corp. | AHCO | $1.3B | -18.70 | 0.87 | -4.7% | 6.60 |
| BioLife Solutions, Inc. | BLFS | $1.3B | -288.04 | 3.56 | -1.2% | -109.81 |
| Teladoc Health, Inc. | TDOC | $1.3B | -6.59 | 0.95 | -14.5% | 9.83 |
| Peer Median | - | -9.72 | 3.45 | -24.4% | -9.55 | |