INBX Inhibrx Inc.

38.33
-3.28  -8%
Previous Close 41.61
Open 41.46
52 Week Low 14.27
52 Week High 50.97
Market Cap $1,454,814,728
Shares 37,954,989
Float 22,573,948
Enterprise Value $1,543,771,092
Volume 107,020
Av. Daily Volume 208,549
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Upcoming Catalysts

Drug Stage Catalyst Date
INBRX-105 and KEYTRUDA (pembrolizumab)
Solid Tumors
Phase 1
Phase 1
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INBRX-106
Solid Tumors
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
INBRX-109
Chondrosarcoma and mesothelioma
Phase 2
Phase 2
Initiation of Phase 2 trial announced June 21, 2021.
INBRX-101
Alpha-1 Antitrypsin Deficiency
Phase 1
Phase 1
Phase 1 interim results showed favorable safety profile in patients and demonstrated the potential to achieve normal AAT levels with monthly dosing, noted October 12, 2021.

Latest News

  1. SAN DIEGO, Nov. 9, 2021 /PRNewswire/ -- Inhibrx, Inc. (NASDAQ:INBX), a biotechnology company with four clinical programs in development and a strong emerging pipeline, today reported financial results for the third quarter of 2021 and provided an update on recent corporate highlights.

    Recent Corporate Highlights

    • On October 12, 2021, Inhibrx announced interim results from a Phase 1 clinical trial evaluating the safety and pharmacokinetics of INBRX-101, an optimized recombinant human AAT-Fc fusion protein, in patients with alpha-1 antitrypsin deficiency, or AATD. The data from the single ascending dose cohorts revealed the potential to achieve normal AAT levels with monthly dosing and also showed a favorable safety and tolerability profile with no drug-related severe or serious adverse events at doses up to and including 120 mg/kg single dose and 80 mg/kg multi-dose administered intravenously.
    • On October 28, 2021, Inhibrx announced the appointment of three executives: David Matly, M.B.A., as Chief Commercial Officer; David Kao, PharmD, M.B.A., RPh, as Vice President of Regulatory Affairs; and Jack Tsai, M.D., M.B.A., as Vice President of Business Development. Additionally, the Company announced the appointment of Kristiina Vuori, M.D., Ph.D. to its Board of Directors.
    • On November 1, 2021, Inhibrx announced it will be presenting at the Connective Tissue Oncology Society (CTOS) 2021 Virtual Annual Meeting taking place November 10-13, 2021. This presentation will provide an update on the Phase 1 expansion cohort for INBRX-109 in patients with conventional chondrosarcoma. Inhibrx will also present a poster on preclinical data that will guide the planned Phase 1 expansion cohort for INBRX-109 in Ewing Sarcoma.
    • On November 3, 2021, Inhibrx announced that three abstracts had been accepted for presentation at the Society for Immunotherapy of Cancer (SITC) 36th Annual Meeting, taking place November 10-14, 2021, in Washington D.C. and virtually. The three abstracts will highlight preclinical data from two of its clinical programs, INBRX-105 and INBRX-106, as well as introduce the first emerging pipeline candidate from its targeted cytokine platform, INBRX-121.

    Financial Results

    • Cash and Cash Equivalents. As of September 30, 2021, Inhibrx had cash and cash equivalents of $112.7 million, compared to $128.7 million as of December 31, 2020. As of November 9, 2021, Inhibrx had cash and cash equivalents of $141.1 million.
    • R&D Expense. Research and development expenses were $18.5 million during the third quarter of 2021, compared to $19.8 million during the third quarter of 2020. This overall decrease was primarily due to the timing of work performed during 2020 by Inhibrx's contract development and manufacturing organization partners for the formulation and manufacturing of certain of its therapeutic candidates, offset in part by an increase in clinical trial expenses based on the initiation of a Phase 2 trial in conventional chondrosarcoma and the progression of ongoing Phase 1 trials during 2021. Additionally, personnel-related costs increased during the third quarter of 2021 as compared to the same period in the prior year as a result of the continued expansion of its organization.
    • G&A Expense. General and administrative expenses were $2.8 million during the third quarter of 2021, compared to $1.6 million during the third quarter of 2020. This was primarily driven by increases in personnel-related costs, as well as increases in professional service fees related to Inhibrx's expanding intellectual property portfolio and other expenses associated with operating as a public company following its initial public offering in August 2020.
    • Net Loss. Net loss was $20.6 million during the third quarter of 2021, or $0.54 per share, compared to $20.5 million during the third quarter of 2020, or $0.77 per share.

    About the Inhibrx sdAb Platform

    Inhibrx utilizes diverse methods of protein engineering in the construction of therapeutic candidates that can address the specific requirements of complex target and disease biology. A key tool for this effort is the Inhibrx proprietary sdAb platform, which enables the development of therapeutic candidates with attributes superior to other monoclonal antibody and fusion protein approaches. This platform allows the combination of multiple binding units in a single molecule, enabling the creation of therapeutic candidates with defined valency or multiple specificities that can achieve enhanced cell signaling or conditional activation. An additional benefit of this platform is that these optimized, multi-functional entities can be manufactured using the established processes that are commonly used to produce therapeutic proteins.

    About Inhibrx, Inc.

    Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. Inhibrx has collaborations with 2seventy bio (formerly bluebird bio), Bristol-Myers Squibb and Chiesi. For more information, please visit www.inhibrx.com.

    Forward Looking Statements

    Inhibrx cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Inhibrx's current beliefs and expectations. These forward-looking statements include, but are not limited to, statements regarding: Inhibrx's and its investigators' judgments and belies regarding the strength of Inhibrx's pipeline and the observed safety and efficacy to date of its therapeutic candidate, INBRX-101, application and dosage of INBRX-101 and the presumption of positive results from Phase 1 clinical trials, future clinical development Inhibrx's therapeutic candidates, including statements regarding expected therapeutic benefit, the timing of future clinical development and evaluations and judgments regarding Inhibrx's therapeutic candidates. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Inhibrx's business, including, without limitation, risks and uncertainties regarding: the initiation, timing, progress and results of its preclinical studies and clinical trials, and its research and development programs; its ability to advance therapeutic candidates into, and successfully complete, clinical trials; its interpretation of preclinical data and initial, interim or preliminary data from its clinical trials, including interpretations regarding disease control and disease response; the timing or likelihood of regulatory filings and approvals; the successful commercialization of its therapeutic candidates, if approved; the pricing, coverage and reimbursement of its therapeutic candidates, if approved; its ability to utilize its technology platform to generate and advance additional therapeutic candidates; the implementation of its business model and strategic plans for its business and therapeutic candidates; its ability to successfully manufacture therapeutic candidates for clinical trials and commercial use, if approved; its ability to contract with third-party suppliers and manufacturers and their ability to perform adequately; the scope of protection it is able to establish and maintain for intellectual property rights covering its therapeutic candidates; its ability to enter into strategic partnerships and the potential benefits of these partnerships; its estimates regarding expenses, capital requirements and needs for additional financing and financial performance; its expectations regarding the impact of the COVID-19 pandemic on its business; and other risks described from time to time in the "Risk Factors" section of its filings with the U.S. Securities and Exchange Commission, including those described in its Annual Report on Form 10-K as well as its Quarterly Reports on Form 10-Q, and supplemented from time to time by its Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Inhibrx undertakes no obligation to update these statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Investor and Media Contact:

    Kelly D. Deck

    Chief Financial Officer



    858-795-4260

    Inhibrx, Inc.

    Condensed Consolidated Statements of Operations

    (In thousands, except per share data)

    (unaudited)



    THREE MONTHS ENDED

    SEPTEMBER 30,



    NINE MONTHS ENDED

    SEPTEMBER 30,



    2021



    2020



    2021



    2020

    Revenue:















    License fee revenue

    $

    2,508





    $

    5,826





    $

    4,289





    $

    10,032



    Grant revenue

    24





    75





    86





    80



    Total revenue

    2,532





    5,901





    4,375





    10,112



    Operating expenses:















    Research and development

    18,485





    19,837





    52,825





    55,827



    General and administrative

    2,848





    1,622





    8,710





    4,621



    Total operating expenses

    21,333





    21,459





    61,535





    60,448



    Loss from operations

    (18,801)





    (15,558)





    (57,160)





    (50,336)



    Total other income (expense)

    (1,779)





    (4,452)





    (3,417)





    (7,652)



    Provision for income taxes









    2







    Loss on equity method investment





    487









    487



    Net loss

    $

    (20,580)





    $

    (20,497)





    $

    (60,579)





    $

    (58,475)



    Net loss per share, basic and diluted

    $

    (0.54)





    $

    (0.77)





    $

    (1.60)





    $

    (2.78)



    Weighted-average shares of common stock outstanding, basic and diluted

    37,893





    26,750





    37,818





    21,019



     

    Inhibrx, Inc.

    Condensed Consolidated Balance Sheets

    (In thousands) 



    SEPTEMBER 30,



    DECEMBER 31,



    2021



    2020



    (unaudited)













    Cash and cash equivalents

    $

    112,704





    $

    128,664



    Other current assets

    6,328





    3,508



    Non-current assets

    10,146





    11,568



    Total assets

    $

    129,178





    $

    143,740











    Debt, current and non-current

    $

    70,069





    $

    29,244



    Other current liabilities

    25,150





    31,399



    Other non-current liabilities

    5,759





    7,624



    Total liabilities

    100,978





    68,267



    Stockholders' equity

    28,200





    75,473



    Total liabilities and stockholders' equity

    $

    129,178





    $

    143,740



    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/inhibrx-reports-third-quarter-2021-financial-results-and-recent-corporate-highlights-301420241.html

    SOURCE Inhibrx Inc.

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  2. SAN DIEGO, Nov. 3, 2021 /PRNewswire/ -- Inhibrx, Inc. (NASDAQ:INBX), a biotechnology company with four clinical programs in development and an emerging pre-clinical pipeline, announced today that the Company will be presenting three poster presentations at the Society for Immunotherapy of Cancer's (SITC) annual meeting, to be held in Washington, D.C. and in a virtual platform, on November 10-14, 2021.

    "We are excited to share some of the preclinical data related to our clinical candidates, INBRX-105 and INBRX-106, which inform the selection of pharmacodynamic biomarkers, dosing and clinical strategy," said Brendan Eckelman, Ph.D., Inhibrx Co-founder and Chief Scientific Officer.

    "Additionally, we will be introducing the first emerging pipeline candidate from our targeted cytokine platform, INBRX-121, which specifically expands and enhances the cytotoxic capacity of NK cells."

    Poster Presentation Details:

    Title: INBRX-106: A novel hexavalent anti-OX40 agonist for the treatment of solid tumors

    Lead Author: Emily Rowell, Ph.D.

    Category: Novel Single-Agent Immunotherapies

    Abstract: 856

    Session Date & Time: ePoster on display beginning Friday, November 12th; 7:00 a.m. EST

    Title: INBRX-105- Key pharmacokinetic and pharmacodynamic parameters that correlate with the anti-tumor activity of a bispecific PD-L1 conditional 4-1BB agonist

    Lead Author: Heather Kinkead, Ph.D.

    Category: Biomarkers, Immune Monitoring, and Novel Technologies

    Abstract: 12

    Session Date & Time: Saturday, November 13th; 7:00 a.m.- 8:30 p.m. EST

    Title: INBRX-121 is an NKp46-targeted detuned IL-2 with antitumor activity as a monotherapy or in combination with multiple cancer immunotherapy modalities

    Lead Author: Florian J. Sulzmaier, Ph.D.

    Category: Immune-Stimulants and Immune Modulators

    Abstract: 722

    Session Date & Time: Saturday, November 13th; 7:00 a.m.- 8:30 p.m. EST

    The scientific posters will be accessible through the following link on the investors section of Inhibrx's website at https://inhibrx.investorroom.com/events-and-presentations.

    About Inhibrx, Inc.

    Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. Inhibrx has collaborations with 2seventy bio (formerly bluebird bio), Bristol-Myers Squibb and Chiesi. For more information, please visit www.inhibrx.com.

    Investor and Media Contact:

    Kelly Deck

    CFO



    858-795-4260

     

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    SOURCE Inhibrx Inc.

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  3. SAN DIEGO, Nov. 1, 2021 /PRNewswire/ -- Inhibrx, Inc. (NASDAQ:INBX), a biotechnology company with four clinical programs in development and an emerging pre-clinical pipeline, announced today that the Company will be presenting at the Connective Tissue Oncology Society, or CTOS, 2021 Virtual Annual Meeting taking place November 10-13, 2021.

    CTOS Virtual Presentation Details:

    Title: Safety and Efficacy of the Tetravalent Death Receptor 5 Agonist INBRX-109 in Patients with Conventional Chondrosarcoma: Update from the Phase 1 Expansion Cohort

    Lead Author: Vivek Subbiah, MD

    Abstract: 1082377, (P 018)

    Oral Presentation on Thursday, November 11th at 1:29 p.m.1:36 p.m. Eastern Time

    Title: Tetravalent Death Receptor 5 Agonist INBRX-109 in Ewing Sarcoma: Planned Phase 1 Cohort Expansion Guided by Preclinical Data

    Lead Author: Emily Rowell, PhD

    Abstract: 1818985, (P 090)

    Poster Presentation on Thursday, November 11th at 2:30 p.m.3:15 p.m. Eastern Time

    Additionally, the Company will be presenting at the following upcoming virtual investor conferences:

    • The Credit Suisse 30th Annual Healthcare Conference; Tuesday, November 9th at 3:30 p.m. Eastern Time;
    • The Stifel 2021 Healthcare Conference; Tuesday, November 16th at 10:00 a.m. Eastern Time;
    • The Jefferies London Healthcare Conference; November 16th–19th; Pre-recorded for conference attendees and available post-conference on Inhibrx's website;
    • The Evercore ISI 4th Annual HealthCONx Conference; Wednesday, December 1st at 3:30 p.m. Eastern Time; and
    • The JMP Securities Hematology and Oncology Summit; Tuesday, December 7th at 2:00 p.m. Eastern Time.

    The scientific posters and presentation will be accessible through a link on the investors section of Inhibrx's website at https://inhibrx.investorroom.com/events-and-presentations. The investor conference presentations will be webcast live and will also be accessible through the same link. The webcasts will be available for at least 60 days following the event.

    About Inhibrx, Inc.

    Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. Inhibrx has collaborations with bluebird bio, Bristol-Myers Squibb and Chiesi. For more information, please visit www.inhibrx.com.

    Investor and Media Contact:

    Kelly Deck

    CFO



    858-795-4260

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/inhibrx-announces-participation-in-upcoming-scientific-and-investor-conferences-301413398.html

    SOURCE Inhibrx, Inc.

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  4. SAN DIEGO, Oct. 28, 2021 /PRNewswire/ -- Inhibrx, Inc. (NASDAQ:INBX), announced the appointment of three key executives: David Matly, M.B.A., as Chief Commercial Officer; David Kao, PharmD, M.B.A., RPh, as Vice President of Regulatory Affairs; and Jack Tsai, M.D., M.B.A., as Vice President of Business Development.

    "The additions of David, David and Jack come at an important time for Inhibrx, as our pipeline demonstrates meaningful clinical activity in areas of high unmet medical need such as Alpha-1 Antitrypsin Deficiency and Chondrosarcoma.  We are building a seasoned, world-class leadership team to progress toward our first regulatory approvals and commercial readiness.  Together, these strategic hires bring a wealth of expertise and business acumen that complements our executive management team and strengthens the future trajectory of the company," said Mark Lappe, Chief Executive Officer and Co-founder of Inhibrx.

    Inhibrx also announced the appointment of Kristiina Vuori, M.D., Ph.D. to its Board of Directors, effective October 28, 2021. Dr. Vuori will serve as a member of the Audit Committee and Nominating and Governance Committee of the Board.

    In connection with this appointment, Inhibrx Chief Scientific Officer and Co-founder, Brendan Eckelman, Ph.D., stepped down from the Board.

    "We are pleased to welcome Kristiina to our Board of Directors," said Mr. Lappe "Inhibrx will benefit from the skills and expertise Kristiina brings as an accomplished leader and researcher."

    Mr. Lappe added, "I would also like to thank Brendan for his service on our Board. He will continue to drive our research strategy and execution and be an integral part of the executive team."

    David Matly, Chief Commercial Officer

    Mr. Matly brings extensive commercial launch and leadership experience across both orphan diseases and oncology. Mr. Matly joins us from Novartis where he served as the global Vice President of the MDS/AML franchise, one of the largest potential growth areas of Novartis Oncology, leading the launch preparation of their flagship program, as well as ensuring commercial success of the entire AML/MDS portfolio. Prior to this role, Mr. Matly was the global commercial lead of the sickle cell disease therapeutic area, leading the launch of ADAKVEO, which at the time was the first approved novel therapy in almost two decades. Also, at Novartis, Mr. Matly was the global commercial lead of PROMACTA/REVOLADE, the largest growth driver of Novartis Oncology. Mr. Matly began his career at Eli Lilly, holding several positions of increasing responsibility in sales and marketing, most notably leading the US launch of CYRAMZA in metastatic lung cancer.

    Mr. Matly received his B.S. in Industrial Engineering from Purdue University and his M.B.A. from Harvard Business School.

    David Kao, Vice President of Regulatory Affairs

    Dr. Kao brings over 20 years of pharmaceutical industry experience in drug development, overseeing programs from initial IND submission to marketing registration and life-cycle management. Prior to Inhibrx, Dr. Kao served as a regulatory lead collaborating on the design of integrated development strategies to support global registration for novel therapies in the oncology, immunology, neurology and cardiovascular therapeutic areas. He comes with considerable regulatory experience in the management of complex clinical programs and in the preparation of regulatory marketing applications from global organizations including Eisai, Roche, Daiichi-Sankyo and Celgene. He most recently served as Development Program Leader at BMS, responsible for the successful delivery of all aspects of drug development for a specific immunology project.

    Dr. Kao is a registered Pharmacist and received his B.S. in Pharmacy from Rutgers University, M.B.A. in Marketing from Rutgers Business School, and PharmD from Shenandoah University.

    Jack Tsai, Vice President of Business Development

    Dr. Tsai leads our business development, portfolio strategy, and formation of new business ventures. He is a seasoned executive that brings more than 15 years of oncology leadership and biopharma industry expertise in business development, search and evaluation, marketing, and new product planning. While at Sanofi, Genzyme and Takeda, Dr. Tsai was responsible for licensing deals and acquisitions with an aggregate value of over $2 billion. His role included activities that resulted in global co-development programs, worldwide collaborative commercialization, while also enabling the transition of innovative early-stage research to late-stage development. He has an outstanding track record of bringing novel treatment modalities to patients, including immuno-oncology therapies that have changed cancer treatment. 

    Dr. Tsai holds an M.D. from Tufts University School of Medicine and serves as a member of its faculty, where for over a decade he has been teaching medical student curricula on clinical and integrative medicine. He received his M.B.A. from MIT Sloan School of Management, and his B.S. in Molecular Genetics from the University of Rochester.

    Kristiina Vuori, Director

    Since January 2010, Dr. Vuori has served as President of, and has held the Pauline and Stanley Foster Presidential Chair at, Sanford Burnham Prebys Medical Discovery Institute (the "Institute"), a non-profit research organization with major research programs in cancer, neurodegeneration, diabetes, and infectious, inflammatory, and childhood diseases. Dr. Vuori also served as the Institute's interim Chief Executive Officer from January 2013 to September 2014, and from September 2017 to June 2020. Since January 1995, Dr. Vuori has served as a Professor at the Institute's National Cancer Institute-designated Cancer Center, an interdisciplinary basic and translational research effort mobilizing over 400 scientists.

    Dr. Vuori has previously served or is currently serving on the Board of Directors of Bionano Genomics, Inc., Sio Gene Therapies, Forian, Inc., the American Association for Cancer Research, the California Institute for Regenerative Medicine, the California Breast Cancer Research Council and WebMD. Dr. Vuori received her M.D. and Ph.D. from the University of Oulu, Finland.

    About Inhibrx, Inc.

    Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. Inhibrx has collaborations with 2seventy bio, Bristol-Myers Squibb and Chiesi. For more information, please visit www.inhibrx.com.

    Forward-Looking Statements

    Inhibrx cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Inhibrx's current beliefs and expectations. Such forward-looking statements include, but are not limited to, those regarding the expected benefits of Dr. Vuori's service on the Board of Directors of Inhibrx or any potential benefit as a result of the addition of Mr. Matly, Dr. Kao and Dr. Tsai to the management team as well as the Company's plans for growth and advancement of its programs. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Inhibrx's business, including, without limitation, risks and uncertainties regarding: the initiation, timing, progress and results of its preclinical studies and clinical trials, and its research and development programs; its ability to advance therapeutic candidates into, and successfully complete, clinical trials; its interpretation of initial, interim or preliminary data from its clinical trials, including interpretations regarding disease control and disease response; the timing or likelihood of regulatory filings and approvals; the successful commercialization of its therapeutic candidates, if approved; the pricing, coverage and reimbursement of its therapeutic candidates, if approved; its ability to utilize its technology platform to generate and advance additional therapeutic candidates; the implementation of its business model and strategic plans for its business and therapeutic candidates; its ability to successfully manufacture therapeutic candidates for clinical trials and commercial use, if approved; its ability to contract with third-party suppliers and manufacturers and their ability to perform adequately; the scope of protection it is able to establish and maintain for intellectual property rights covering its therapeutic candidates; its ability to enter into strategic partnerships and the potential benefits of these partnerships; its estimates regarding expenses, capital requirements and needs for additional financing and financial performance; its expectations regarding the impact of the COVID-19 pandemic on its business; and other risks described from time to time in the "Risk Factors" section of our filings with the U.S. Securities and Exchange Commission, including those described in our Annual Report on Form 10-K as well as our Quarterly Reports on Form 10-Q, and supplemented from time to time by our Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Inhibrx undertakes no obligation to update these statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains estimates and other statistical data made by independent parties and by Inhibrx. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates.

     

    Investor and Media Contact:

    Kelly Deck, CFO



    858-795-4260

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  5. SAN DIEGO, Oct. 12, 2021 /PRNewswire/ -- Inhibrx, Inc. (NASDAQ:INBX), a biotechnology company with four clinical programs in development and an emerging pre-clinical pipeline, today announced interim results from a Phase 1 clinical trial evaluating the safety and pharmacokinetics of INBRX-101, an optimized recombinant human AAT-Fc fusion protein, in patients with alpha-1 antitrypsin deficiency, or AATD.

    Interim functional PK data from this multi-country multi-center Phase 1 study are from 21 patients with AATD, all with the ZZ mutation of the SERPINA1 gene, the underlying cause of AATD. Interim safety data are from 24 patients with AATD. There were no drug-related severe or serious adverse events at doses up to and including 120 mg/kg single dose and 80mg/kg multi-dose. Drug-related adverse events were predominantly mild with a few moderate events and all were transient and reversible. No signs of neutralizing anti-drug antibodies have been seen.

    Dose related increases in maximal and total INBRX-101 exposure occurred across the entirety of the tested single ascending dose range of 10 to 120 mg/kg.

    Data from the first multiple ascending dose cohort of INBRX-101 at 40 mg/kg IV every three weeks showed the expected accumulation of functional alpha-1 antitrypsin, or AAT, levels with observed trough levels exceeding the goal of the current standard augmentation therapy with plasma-derived AAT.

    Functional AAT and bronchoalveolar lavage data from patients to be administered three INBRX-101 doses of 80 or 120 mg/kg IV every three weeks are expected in the first half of 2022.

    "These initial data demonstrate the potential of INBRX-101 to significantly improve treatment for patients with AATD by maintaining them in the normal range of functional AAT and reducing infusions from 52 annually to possibly as few as 12 annually," said Mark Lappe, CEO of Inhibrx.

    The Company will host a live webcast presentation today at 5:30 a.m. PT to further discuss the results.

    About the Conference Call

    Investors may join via the web: https://www.webcaster4.com/Webcast/Page/2560/43178 or may listen to the call by dialing (1-877-870-4263) from locations in the United States or (1-412-317-0790) from outside the United States. Please refer to Inhibrx, Inc. when calling in. Following the webcast, the presentation may be accessed through a link on the "Investors" section of Inhibrx's website at https://inhibrx.investorroom.com/events-and-presentations. The webcast will be available for 60 days following the event. Following the presentation, Inhibrx will update its corporate presentation within the "Investors" section of its website at www.inhibrx.com.

    About INBRX-101 and AATD

    INBRX-101 is a precisely engineered recombinant human AAT-Fc fusion protein designed to safely achieve and maintain levels of alpha-1 antitrypsin, or AAT, found in healthy individuals with the potential for once-monthly dosing.

    Alpha-1 antitrypsin deficiency, or AATD, is an inherited orphan disease affecting an estimated 100,000 patients in the United States. AATD is characterized by deficient levels of the AAT protein, which causes loss of lung tissue and function and decreased life expectancy.  Plasma-derived AAT is the current standard of care and does not maintain patients in the normal AAT range, requires frequent and inconvenient once-weekly IV dosing, and relies on plasma collection practices that might not be sustainable. 

    About Inhibrx, Inc.

    Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. Inhibrx has collaborations with bluebird bio, Bristol-Myers Squibb and Chiesi. For more information, please visit www.inhibrx.com.

    Forward-Looking Statements

    Inhibrx cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Inhibrx's current beliefs and expectations. These forward-looking statements include, but are not limited to, statements regarding: Inhibrx's and its investigators' judgments and beliefs regarding the observed safety and efficacy to date of its therapeutic candidate, INBRX-101, discussions with and beliefs regarding future action by the U.S. Food and Drug Administration, statements and beliefs regarding the current standard of care for AAT and the sustainability of current plasma collection practices, future clinical development, application and dosage of INBRX-101 and the presumption of positive results from Phase 1 clinical trials. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Inhibrx's business, including, without limitation, risks and uncertainties regarding: the initiation, timing, progress and results of its preclinical studies and clinical trials, and its research and development programs; its ability to advance therapeutic candidates into, and successfully complete, clinical trials; its interpretation of initial, interim or preliminary data from its clinical trials, including interpretations regarding disease control and disease response; the timing or likelihood of regulatory filings and approvals; the successful commercialization of its therapeutic candidates, if approved; the pricing, coverage and reimbursement of its therapeutic candidates, if approved; its ability to utilize its technology platform to generate and advance additional therapeutic candidates; the implementation of its business model and strategic plans for its business and therapeutic candidates; its ability to successfully manufacture therapeutic candidates for clinical trials and commercial use, if approved; its ability to contract with third-party suppliers and manufacturers and their ability to perform adequately; the scope of protection it is able to establish and maintain for intellectual property rights covering its therapeutic candidates; its ability to enter into strategic partnerships and the potential benefits of these partnerships; its estimates regarding expenses, capital requirements and needs for additional financing and financial performance; its expectations regarding the impact of the COVID-19 pandemic on its business; and other risks described in Inhibrx's filings with the U.S. Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" in Inhibrx's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Inhibrx undertakes no obligation to update these statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains estimates and other statistical data made by independent parties and by Inhibrx. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates.

    Investor and Media Contact:

    Kelly Deck, CFO



    858-795-4260

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    SOURCE Inhibrx, Inc.

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