Inhibrx Biosciences reported its financial results for the fourth quarter and fiscal year 2024. The company recorded a net income of $1.687 billion for the full fiscal year 2024, a significant increase from a net loss of $241.361 million in fiscal year 2023.
This substantial net income was primarily driven by the impact of the INBRX-101 spin-off and sale to Sanofi in May 2024, which resulted in a large "Total other income" of over $2 billion for the year. Basic earnings per share for FY 2024 were $114.01, compared to a loss of $20.48 in the prior year.
For the fourth quarter of 2024, the net loss improved to $47.865 million from $93.604 million in Q4 2023. As of December 31, 2024, cash and cash equivalents stood at $152.6 million, which increased to $230.5 million by February 28, 2025, following the $100 million Oxford Loan Agreement.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.