Instil Bio, Inc. reported its financial results for the second quarter ended June 30, 2025. The company held $103.6 million in cash, cash equivalents, restricted cash, marketable securities, and long-term investments as of June 30, 2025. Instil expects this capital to fund its operating plan beyond 2026.
Research and development expenses increased to $6.7 million for Q2 2025 from $2.9 million in Q2 2024, reflecting increased investment in the new pipeline. In-process research and development expenses were $10.0 million for the quarter, compared to nil in the prior year. The net loss per share was $3.24 for Q2 2025, compared to $2.29 for Q2 2024.
The company highlighted the recent U.S. IND clearance for AXN-2510, with the initiation of the U.S. clinical trial anticipated before the end of 2025. Instil also noted that updated AXN-2510 monotherapy data in squamous-NSCLC would be presented by ImmuneOnco at the 2025 World Conference on Lung Cancer.
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