Inhibrx Biosciences announced it entered into a loan and security agreement with Oxford Finance LLC, establishing a five-year term loan facility for up to $150 million. An initial Term Loan of $100 million was funded on January 13, 2025.
The agreement includes an option for an additional $50 million at the lenders' discretion, providing further financial flexibility. The repayment schedule features interest-only payments until March 2028, offering near-term operational runway.
As part of the agreement, Inhibrx issued warrants to Oxford Finance to purchase an aggregate of 140,741 shares of its common stock at a strike price of $14.21 per share. This financing is intended to provide strategic flexibility ahead of anticipated data readouts for the INBRX-109 and INBRX-106 programs later in 2025.
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