Inhibrx Biosciences, Inc. (INBX) Stock

Inhibrx Biosciences, Inc. (INBX) is a Healthcare stock trading at $99.28 (as of 2026-08-20), with a market capitalization of $1.46B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Inhibrx Biosciences, Inc., a clinical-stage biopharmaceutical company, engages in the development of biologic therapeutics for people with life-threatening conditions. Its therapeutic candidates includes INBRX-109, a tetravalent therapeutic candidate targeting death-receptor 5 that is in phase 2 clinical trial for the treatment of unresectable or metastatic conventional chondrosarcoma; and INBRX-106, a hexavalent sdAb-based therapeutic candidate targeting OX4 that is in phase 2 clinical trial for the treatment of metastatic solid tumor, non-small cell lung cancer, melanoma, head and neck cancer, gastric (GIST) and gastroesophageal adenocarcinoma (GEA) cancer, renal cell carcinoma, and urothelial (transitional) cell carcinoma. The company was incorporated in 2024 and is based in La Jolla, California.

Understand Inhibrx Biosciences, Inc.: how it makes money

Inhibrx Biosciences is developing biologic therapeutics for people with life-threatening conditions, including INBRX-109 and INBRX-106 in Phase 2 clinical trials, and it would make money only if these programs progress to approved, commercial products (commercial revenue is not described in the provided facts).

For a clinical-stage biotech, the profit engine is whether Phase 2 proof of anti-cancer activity and tolerability for its lead candidates translates into continued trial success, regulatory approval, and eventual product commercialization, because current results are still trial-based and revenue is shown as 0.0B for the provided period.

Business quality (Mixed): The provided data highlights Phase 2 signals for trial endpoints, but the company remains clinical-stage with negative operating performance, so the investment case is highly dependent on future trial outcomes and safety.

Bull case

  • Phase 2 efficacy signals are reported for objective response and durable disease control: The provided operating metrics include a Confirmed Objective Response Rate of 44.0 percent and a Progression-Free Survival at Six-Month Landmark of 42.0 percent.
  • Reported benefit metrics include risk reduction in progression or death: The provided metrics include a Stratified Hazard Ratio for Progression or Death of 0.48 and a Percent Reduction in Risk of Disease Progression or Death of 52.0 percent.

Bear case

  • Clinical-stage uncertainty, outcomes may not hold in later studies: INBRX-109 and INBRX-106 are both in Phase 2 clinical trials, so there is no provided evidence here that results will replicate in later-stage programs or lead to approval.
  • Safety risk exists, and hepatic adverse events are reported: The provided operating metrics include an Overall Incidence of Treatment-Related Hepatic Adverse Events of 11.8 percent.
  • Operating losses are substantial: Operating margin is reported as -2106.8 (period ended 2025-06-30), which indicates significant ongoing losses based on the provided financials.
Valuation — source: SEC EDGAR (first-party)
Price$99.28
Market Cap$1.46B
Price / Sales1123.98
FCF Yield-16.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.30M
Net Margin-10773.5%
Revenue Growth (YoY)550.0%
EPS Growth (YoY)-107.9%
FCF Growth (YoY)-34.1%
Financial Health — source: SEC EDGAR
Altman Z-Score1.71 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderPERCEPTIVE ADVISORS LLC ($96.99M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOMark Paul Lappe
Employees156
CountryUS
IPO Date2024-06-04

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INBX earnings history · INBX institutional & insider holders · INBX KPIs & operating metrics · INBX financials · INBX investor presentations & press releases · INBX SEC filings · INBX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.