Inhibrx Biosciences reported its financial results for the third quarter of 2024, following the spin-off of its INBRX-101 program in May 2024. The company recorded no license fee revenue for the quarter, compared to $119,000 in the same period of 2023.
Research and development expenses were $38.893 million, a slight increase from $38.057 million in Q3 2023. General and administrative expenses remained stable at $7.904 million, compared to $7.889 million in the prior year.
The net loss for the third quarter of 2024 improved to $43.864 million, from a net loss of $51.789 million in the third quarter of 2023. As of September 30, 2024, Inhibrx held cash and cash equivalents totaling $196.332 million.
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