Inhibrx Biosciences Inc.
INBXHealthcare|Biotechnology|US
$84.52
+4.24 (+5.28%)
DCF Value
$0.74
Cash / Share
$8.51
Financials
Financial Snapshot
Market Cap
$1.24B
Enterprise Value
$1.12B
Revenue (TTM)
$0.00
Net Income (TTM)
-$138.2M
Cash & Investments
$133.3M
Net Cash
$128.0M
Free Cash Flow (TTM)
-$131.9M
Operating CF (TTM)
-$131.9M
Debt/Equity
-0.10
Cash Runway & Burn Rate
Cash on Hand
$133.3M
Quarterly Burn
$33.0M
Monthly Burn
$11.0M
Est. Runway
~4.0 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $20.0M | $13.5M | $2.1M | $11.5M | $128.7M | $131.3M | $273.9M | $277.9M | $152.6M | $124.2M | $133.3M | |
| Operating Cash Flow | -$18.1M | -$18.8M | -$23.1M | -$32.1M | -$48.0M | -$80.3M | -$115.3M | -$193.3M | -$194.4M | -$129.8M | -$131.9M | |
| Free Cash Flow | -$18.3M | -$20.1M | -$24.5M | -$33.9M | -$49.3M | -$81.2M | -$116.0M | -$197.9M | -$197.0M | -$129.8M | -$131.9M | |
| Capital Expenditure | -$215.0K | -$1.3M | -$1.4M | -$1.8M | -$1.4M | -$864.0K | -$686.0K | -$4.6M | -$2.6M | -$31.0K | $17.0K | |
| Financing Cash Flow | $28.8M | $13.5M | $13.2M | $43.3M | $166.5M | $83.8M | $258.6M | $202.0M | $71.7M | $101.4M | $78.7M |
R&D Spending
R&D (TTM)
$102.5M
R&D Intensity
—
R&D Growth vs Prior
-9.3%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.7M | $8.4M | $8.6M | $9.1M | $12.8M | $7.1M | $2.2M | $1.8M | $200.0K | $1.3M | $0.00 | |
| R&D Expense | $17.0M | $25.5M | $33.5M | $47.9M | $73.5M | $71.4M | $110.2M | $190.6M | $203.7M | $113.0M | $102.5M | |
| R&D % of Revenue | 254.9% | 304.0% | 389.2% | 526.9% | 573.8% | 1002.7% | 5026.7% | 10591.6% | 101871.5% | 8694.5% | — | |
| SG&A | $1.6M | $2.6M | $4.7M | $9.0M | $6.8M | $9.7M | $21.1M | $29.4M | $127.9M | $23.3M | $24.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.7M | $8.4M | $8.6M | $9.1M | $12.8M | $7.1M | $2.2M | $1.8M | $200.0K | $1.3M | $0.00 | |
| Cost of Revenue | $17.0M | $25.5M | $33.5M | $47.9M | $0.00 | $2.7M | $110.2M | $1.2M | $2.3M | $2.5M | $1.7M | |
| Gross Profit | -$10.3M | -$17.1M | -$24.9M | -$38.8M | $0.00 | $4.4M | -$108.0M | $609.0K | -$2.1M | -$1.2M | -$1.7M | |
| R&D | $17.0M | $25.5M | $33.5M | $47.9M | $73.5M | $71.4M | $110.2M | $190.6M | $203.7M | $113.0M | $102.5M | |
| SG&A | $1.6M | $2.6M | $4.7M | $9.0M | $6.8M | $9.7M | $21.1M | $29.4M | $127.9M | $23.3M | $24.8M | |
| Operating Income | -$12.1M | -$19.7M | -$29.5M | -$41.0M | -$67.4M | -$76.7M | -$129.1M | -$219.2M | -$331.4M | -$135.0M | -$127.8M | |
| Interest Expense | $0.00 | $2.1M | $1.5M | $5.7M | $10.8M | $5.2M | $16.1M | $31.8M | $13.5M | $12.2M | $15.6M | |
| Pretax Income | -$12.9M | -$21.8M | -$30.9M | -$50.5M | -$75.6M | -$81.8M | -$145.2M | -$239.7M | $1.69B | -$140.1M | -$138.2M | |
| Net Income | -$8.3M | -$19.4M | -$31.2M | -$51.4M | -$76.1M | -$81.8M | -$145.2M | -$241.4M | $1.69B | -$140.1M | -$138.2M | |
| EPS (Diluted) | -0.23 | -0.68 | -1.15 | -1.41 | 0.00 | -2.15 | -3.62 | -5.12 | 116.58 | -9.04 | -8.88 | |
| EBITDA | -$11.9M | -$19.3M | -$28.8M | -$39.8M | -$66.4M | -$75.4M | -$125.8M | -$206.7M | $1.70B | -$125.4M | -$120.4M | |
| Shares Out. (M) | 36.55 | 28.79 | 27.08 | 36.55 | 25.26 | 38.01 | 40.11 | 47.13 | 14.48 | 15.49 | 15.67 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20.0M | $13.5M | $2.1M | $11.5M | $128.7M | $131.3M | $273.9M | $277.9M | $152.6M | $124.2M | $133.3M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $20.4M | $15.4M | $5.7M | $15.6M | $132.2M | $139.1M | $280.5M | $295.4M | $160.4M | $132.8M | $142.2M | |
| Total Assets | $21.3M | $17.2M | $10.0M | $26.5M | $143.7M | $150.4M | $290.9M | $307.9M | $180.8M | $146.5M | $154.2M | |
| Total Current Liabilities | $5.3M | $8.9M | $16.2M | $20.6M | $31.4M | $22.5M | $27.6M | $56.3M | $40.7M | $33.8M | $28.1M | |
| Long-Term Debt | $14.7M | $9.5M | $3.6M | $37.1M | $36.0M | $70.5M | $202.1M | $207.0M | $0.00 | $100.6M | $2.9M | |
| Total Liabilities | $20.0M | $39.7M | $67.6M | $120.1M | $68.3M | $98.1M | $232.8M | $264.4M | $47.2M | $138.5M | $207.2M | |
| Stockholders' Equity | -$9.2M | -$28.8M | -$57.6M | -$93.6M | $75.5M | $52.4M | $58.1M | $43.5M | $133.6M | $8.0M | -$53.0M | |
| Retained Earnings | -$9.2M | -$28.8M | -$17.9M | -$69.3M | -$145.4M | -$227.1M | -$372.4M | -$613.7M | -$106.1M | -$246.2M | -$316.3M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.1M | -$18.8M | -$23.1M | -$32.1M | -$48.0M | -$80.3M | -$115.3M | -$193.3M | -$194.4M | -$129.8M | -$131.9M | |
| Capital Expenditure | -$215.0K | -$1.3M | -$1.4M | -$1.8M | -$1.4M | -$864.0K | -$686.0K | -$4.6M | -$2.6M | -$31.0K | $17.0K | |
| Free Cash Flow | -$18.3M | -$20.1M | -$24.5M | -$33.9M | -$49.3M | -$81.2M | -$116.0M | -$197.9M | -$197.0M | -$129.8M | -$131.9M | |
| Investing Cash Flow | -$215.0K | -$1.3M | -$1.4M | -$1.8M | -$1.4M | -$809.0K | -$686.0K | -$4.6M | -$2.6M | -$28.0K | $20.0K | |
| Financing Cash Flow | $28.8M | $13.5M | $13.2M | $43.3M | $166.5M | $83.8M | $258.6M | $202.0M | $71.7M | $101.4M | $78.7M | |
| Issuance of Stock | $0.00 | $0.00 | $20.4M | $12.0M | $136.8M | $44.2M | $129.7M | $202.0M | $71.7M | $1.6M | $3.3M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$340.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $40.0M | $0.00 | $0.00 | $0.00 | $99.8M | $75.0M | |
| Stock Based Comp. | $552.0K | $1.2M | $2.5M | $4.0M | $5.0M | $15.0M | $20.4M | $24.8M | $58.5M | $11.1M | $11.7M | |
| Net Change in Cash | $10.4M | -$6.6M | -$11.4M | $9.4M | $117.1M | $2.6M | $142.6M | $4.1M | -$125.3M | -$28.4M | -$53.2M |
Dilution Tracker
Shares Outstanding
15M
5-Year Share Growth
-38.7%
Stock Issuance (TTM)
$3.3M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 36.55 | 28.79 | 27.08 | 36.55 | 25.26 | 38.01 | 40.11 | 47.13 | 14.48 | 15.49 | 15.67 | |
| Change vs Prior % | — | -21.2% | -5.9% | 35.0% | -30.9% | 50.5% | 5.5% | 17.5% | -69.3% | 7.0% | 1.2% | |
| Stock Issuance | $0.00 | $0.00 | $20.4M | $12.0M | $136.8M | $44.2M | $129.7M | $202.0M | $71.7M | $1.6M | $3.3M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$340.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $552.0K | $1.2M | $2.5M | $4.0M | $5.0M | $15.0M | $20.4M | $24.8M | $58.5M | $11.1M | $11.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -154.9% | -204.0% | -289.2% | -426.9% | 0.0% | 62.3% | -4926.7% | 33.8% | -1042.5% | -91.0% | — | |
| Operating Margin % | -182.2% | -235.1% | -343.4% | -450.4% | -526.6% | -1076.1% | -5890.4% | -12178.9% | -165724.0% | -10386.5% | — | |
| Net Margin % | -124.0% | -231.7% | -362.6% | -565.3% | -594.3% | -1147.6% | -6625.3% | -13408.9% | 843786.0% | -10773.5% | — | |
| EBITDA Margin % | -178.4% | -230.1% | -334.7% | -437.6% | -518.6% | -1057.6% | -5739.8% | -11482.9% | 851675.0% | -9644.2% | — | |
| FCF Margin % | -274.8% | -239.4% | -285.3% | -372.7% | -385.2% | -1139.5% | -5291.4% | -10994.6% | -98503.0% | -9986.5% | — | |
| ROE % | 89.4% | 67.6% | 54.1% | 54.9% | -100.9% | -156.1% | -250.1% | -554.8% | 1263.3% | -1752.2% | 1893.6% | |
| ROA % | -38.9% | -112.7% | -312.1% | -194.0% | -53.0% | -54.3% | -49.9% | -78.4% | 933.6% | -95.6% | -89.6% | |
| ROIC % | -38.5% | -146.2% | 11053.6% | -386.8% | -59.2% | -59.1% | -48.7% | -86.4% | -234.0% | -117.4% | -99.3% | |
| R&D / Revenue % | 254.9% | 304.0% | 389.2% | 526.9% | 573.8% | 1002.7% | 5026.7% | 10591.6% | 101871.5% | 8694.5% | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 25.9% | 2.4% | 5.8% | 40.9% | -44.4% | -69.2% | -17.9% | -88.9% | 550.0% | |
| Gross Profit | 0.0% | -65.8% | -45.2% | -56.1% | 100.0% | 0.0% | -2533.9% | 100.6% | -442.4% | 43.3% | |
| Operating Income | 0.0% | -62.4% | -49.6% | -38.8% | -64.7% | -13.7% | -68.4% | -69.8% | -51.2% | 59.3% | |
| Net Income | 0.0% | -135.1% | -60.3% | -64.9% | -48.1% | -7.4% | -77.6% | -66.2% | 799.2% | -108.3% | |
| EPS (Diluted) | 0.0% | -195.7% | -69.1% | -22.6% | 100.0% | 0.0% | -68.4% | -41.4% | 2377.0% | -107.8% | |
| Operating Cash Flow | 0.0% | -3.6% | -23.1% | -38.9% | -49.5% | -67.5% | -43.5% | -67.7% | -0.6% | 33.2% | |
| Free Cash Flow | 0.0% | -9.7% | -22.0% | -38.2% | -45.6% | -64.6% | -42.9% | -70.6% | 0.5% | 34.1% | |
| R&D Expense | 0.0% | 50.1% | 31.1% | 43.2% | 53.4% | -2.8% | 54.2% | 73.0% | 6.9% | -44.5% | |
| SG&A Expense | 0.0% | 66.4% | 78.4% | 93.8% | -24.2% | 41.4% | 118.5% | 39.1% | 335.3% | -81.8% | |
| Total Assets | 0.0% | -18.9% | -42.1% | 165.3% | 442.6% | 4.7% | 93.3% | 5.9% | -41.3% | -19.0% | |
| Book Value / Share | 0.0% | -2397.6% | -173.4% | -20.2% | 216.7% | -53.9% | 5.0% | -36.2% | 899.7% | -94.4% | |
| Debt | 0.0% | -22.5% | -35.2% | 339.6% | -10.3% | 92.6% | 187.1% | 1.5% | -96.2% | 1229.7% | |
| Diluted Shares | 0.0% | -21.2% | -5.9% | 35.0% | -30.9% | 50.5% | 5.5% | 17.5% | -69.3% | 7.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High64.99 / 232.97 / 1114.64
P/B-25.00
10Y Low / Med / High1.67 / 31.69 / 153.07
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High57.90 / 224.67 / 957.31
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.74
Cash / Share
$8.51
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -89.70 | -30.34 | -17.94 | -14.63 | -10.94 | -20.31 | -6.81 | -7.42 | 0.13 | -8.74 | -9.52 | |
| P/S Ratio | 113.11 | 70.78 | 64.99 | 82.93 | 65.03 | 232.97 | 450.85 | 994.97 | 1114.64 | 941.13 | 0.00 | |
| P/B Ratio | -81.55 | -20.64 | -9.69 | -8.06 | 11.04 | 31.69 | 17.02 | 41.17 | 1.67 | 153.07 | -25.00 | |
| EV/EBITDA | -63.32 | -30.83 | -19.67 | -19.71 | -11.16 | -21.24 | -7.32 | -8.34 | 0.05 | -9.62 | -9.26 | |
| EV/Revenue | 112.95 | 70.92 | 65.85 | 86.25 | 57.90 | 224.67 | 420.39 | 957.31 | 391.90 | 927.90 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-1.01
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $4.3M | $36.1M | $120.8M |
| Net Income | -$142.7M | -$134.7M | -$88.8M |
| EPS | $-9.52 | $-8.94 | $-5.42 |
| # Analysts (EPS) | 2 | 2 | 2 |
Dividends
Frequency
Irregular
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| May 30, 2024 | Jun 20, 2024 | $0.85 | Irregular |
Revenue Segments
By Product
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| License, Non-Affiliate | $10.8M | — | $2.2M | $1.8M | $200.0K | $1.3M |
| License, Affiliate - OX40 License Agreement | $2.0M | — | — | — | — | — |
| License, Affiliate - PD-L1 And 4-1BB License Agreement | — | — | — | — | — | — |
| License, Affiliate | $2.0M | — | — | — | — | — |
| Grant | — | $86.0K | $14.0K | — | — | — |