Inhibrx Biosciences, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
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Third-party market data · may be delayed
Under review: every model's value for Inhibrx Biosciences, Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.
Under review: data-quality checks not passed. We'll show the comparison once resolved.
Inhibrx Biosciences, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Inhibrx Biosciences has little or no product revenue yet; it used $132m of cash in the twelve months to June 2026. It passes 1 of our 5 financial-health checks.
Our model value for Inhibrx Biosciences is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 13, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Inhibrx Biosciences, Inc.'s trailing-twelve-month revenue grew 550.0% year on year, with a free-cash-flow margin of -9986.5%.
Current signal Revenue growth accelerating: TTM revenue growth rose to 550.0% (+569.3pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
| At fiscal year end | 2024 | 2025 |
|---|---|---|
| Share price | $15.40 | $79.00 |
| Market value | $231m | $1.2bn |
| + Net debt (− = net cash) | −$153m | −$24m |
| Enterprise value | $78m | $1.2bn |
| Multiples | ||
| Price / sales | n/m | n/m |
| Price / earnings | 0.1x | — |
| Price / free cash flow | — | — |
| EV / EBITDA | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Next results: November 13, 2026, after the close. Analysts expect revenue of $0 and EPS of −$2.35 (range −$2.57 to −$2.14) for the quarter.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$9.26 | −2% | — | −100% |
| Next | −$8.76 | +5% | $36m | 0% |
The consensus EPS forecast for the current fiscal year is −0.1% on 90 days ago. In the last 30 days, 0 analysts raised Inhibrx Biosciences, Inc.'s forecast and 1 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$9.26 | −$6.30 |
| 60 days ago | −$9.26 | −$8.76 |
| 30 days ago | −$9.26 | −$8.76 |
| 7 days ago | −$9.26 | −$8.76 |
| Now | −$9.26 | −$8.76 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$2.28 | −$2.34 | −2.6% |
| Mar 2026 | −$1.20 | −$2.15 | −79.2% |
| Dec 2025 | −$2.08 | −$2.11 | −1.4% |
| Sept 2025 | −$1.72 | −$2.28 | −32.6% |
Adjusted EPS as companies report it, against the average analyst estimate.
Last 12 months −11.6%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $1m | $1m | −7.1% |
| P/S multiple | n/m | n/m | −5.1% |
| Share count | 16m | 16m | +0.3% |
Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.
| Calendar year | 2025 | 2026 to date |
|---|---|---|
| Return | ||
| INBX | +413% | −9% |
| Industry peers (median) | −5% | −27% |
| S&P 500 | +18% | +11% |
| Months that ended higher | ||
| INBX | 67% | 27% |
| S&P 500 | 75% | 46% |
| Largest fall from a high during the year | ||
| INBX | −34% | −49% |
| S&P 500 | −19% | −9% |
Worst fall since May 29, 2024: 49% from May 6, 2026 to October 30, 2026. Getting back needed a 98% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 13, 2026 | −10.2% | +0.5% | +0.8% | +12.3% |
| May 14, 2026 | −7.9% | −0.4% | −6.3% | −20.7% |
| March 19, 2026 | −11.3% | −1.7% | −4.2% | +19.9% |
| November 14, 2025 | +3.7% | −0.9% | +12.5% | +9.3% |
| August 13, 2025 | +9.2% | +0.4% | +11.4% | +25.5% |
| May 14, 2025 | +6.6% | +0.6% | +16.7% | +29.2% |
| March 17, 2025 | −0.7% | −0.3% | +4.4% | −16.4% |
| November 14, 2024 | −10.5% | −1.9% | −9.5% | −5.8% |
| August 13, 2024 | +0.4% | +2.0% | +14.8% | +34.0% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY24 Q1 | $1.8M |
| FY24 Q2 | $1.9M |
| FY24 Q3 | $1.7M |
| FY24 Q4 | $200K |
| FY25 Q1 | $200K |
| FY25 Q2 | $1.4M |
| FY25 Q3 | $1.4M |
| FY25 Q4 | $1.3M |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY25 Q1 | -88.8% |
| FY25 Q2 | -24.4% |
| FY25 Q3 | -19.3% |
| FY25 Q4 | 550.0% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY24 Q1 | -13980.9% |
| FY24 Q2 | -19905.0% |
| FY24 Q3 | -21326.9% |
| FY24 Q4 | -165724.0% |
| FY25 Q1 | -150262.0% |
| FY25 Q2 | -11929.6% |
| FY25 Q3 | -11002.1% |
| FY25 Q4 | -10386.5% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY24 Q2 | -12847.3% |
| FY24 Q3 | -12314.5% |
| FY24 Q4 | -98503.0% |
| FY25 Q1 | -84376.5% |
| FY25 Q2 | -10009.5% |
| FY25 Q3 | -10245.6% |
| FY25 Q4 | -9986.5% |
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|
| Income | |||
| Revenue | 2 | 0 | 1 |
| EBITDA | −218 | −329 | −133 |
| Operating income | −219 | −331 | −135 |
| Net income | −241 | 1,688 | −140 |
| Diluted EPS | −$20.48 | $112.62 | −$9.04 |
| Growth (year on year) | |||
| Revenue | — | −88.9% | +550.0% |
| Net income | — | — | −108.3% |
| Diluted EPS | — | — | −108.0% |
| Margins | |||
| EBITDA margin | <−999% | <−999% | <−999% |
| Operating margin | <−999% | <−999% | <−999% |
| Net margin | <−999% | >999% | <−999% |
| Free-cash-flow margin | <−999% | <−999% | <−999% |
| Cash flow | |||
| Cash from operations | −193 | −194 | −130 |
| Capital spending | 5 | 3 | 0 |
| Free cash flow | −198 | −197 | −130 |
| Stock-based pay | 25 | 59 | 11 |
| Free cash flow after stock pay | −223 | −256 | −141 |
| Balance sheet | |||
| Cash | 278 | 153 | 124 |
| Total debt | 207 | 0 | 101 |
| Net debt (negative = net cash) | −71 | −153 | −24 |
| Diluted shares | 12m | 15m | 15m |
| Quarter | 2024 Q2 Jun 2024 | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| EBITDA | −160 | −46 | −49 | −42 | −27 | −33 | −30 | −32 |
| Operating income | −161 | −47 | −50 | −43 | −27 | −34 | −31 | −32 |
| Net income | 1,858 | −44 | −48 | −43 | −29 | −35 | −33 | −37 |
| Diluted EPS | $125.48 | −$2.84 | −$4.47 | −$2.80 | −$1.85 | −$2.28 | −$2.11 | −$2.34 |
| Growth (year on year) | ||||||||
| Revenue | +233.3% | −100.0% | −93.9% | — | +>999% | — | −100.0% | −100.0% |
| Net income | — | — | — | — | −101.5% | — | — | — |
| Diluted EPS | — | — | — | — | −101.5% | — | — | — |
| Margins | ||||||||
| EBITDA margin | <−999% | — | <−999% | — | <−999% | — | — | — |
| Operating margin | <−999% | — | <−999% | — | <−999% | — | — | — |
| Net margin | >999% | — | <−999% | — | <−999% | — | — | — |
| Free-cash-flow margin | <−999% | — | <−999% | — | <−999% | — | — | — |
| Cash flow | ||||||||
| Cash from operations | −57 | −30 | −44 | −36 | −30 | −34 | −30 | −30 |
| Capital spending | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −59 | −31 | −44 | −36 | −30 | −34 | −30 | −30 |
| Stock-based pay | 46 | 3 | 3 | 2 | 3 | 3 | 3 | 3 |
| Free cash flow after stock pay | −105 | −33 | −47 | −38 | −33 | −37 | −33 | −33 |
| Last 12 months unless stated | INBX | DARE | LGVN | RNAC | ABSI | OVID | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $1m | $1m | $1m | $1m | $2m | $2m | $55m |
| Revenue growth, last 12 months | 550.0% | >999% | −42.7% | 44.0% | −62.3% | −76.2% | 12.7% |
| Revenue growth, 3-year average | — | — | 10.4% | −68.8% | −43.3% | 99.8% | 13.7% |
| Revenue growth, latest quarter | −100.0% | 499.6% | −9.2% | −100.0% | −46.4% | −88.3% | 10.2% |
| Operating margin | <−999% | −813.4% | <−999% | <−999% | <−999% | <−999% | −191.1% |
| Operating margin, 3-year average | — | >999% | <−999% | <−999% | <−999% | <−999% | −363.5% |
| Net margin | <−999% | −804.4% | <−999% | <−999% | <−999% | <−999% | −172.8% |
| Cash from operations / revenue | <−999% | −826.8% | <−999% | <−999% | <−999% | <−999% | −168.8% |
| Free-cash-flow margin | <−999% | −860.6% | <−999% | <−999% | <−999% | <−999% | −168.1% |
| Free-cash-flow margin, 3-year average | — | >999% | <−999% | <−999% | <−999% | <−999% | −310.0% |
| Stock pay / revenue | 856.8% | 110.0% | 132.8% | 625.6% | >999% | 302.0% | 20.7% |
| Change in share count | −0.3% | 62.5% | — | 143.3% | 26.0% | 0.5% | 8.1% |
| Line of business | Revenue | YoY |
|---|---|---|
| Licenses | $1.3M | ▲ 550.0% |
| License Non Affiliate | $1.3M | ▲ 550.0% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Inhibrx Biosciences, Inc.'s 10-K filed March 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Morgan Stanley | $124M | 1.3M | 9.1% | ▲ 3.6% |
| Perceptive Advisors LLC | $123M | 1.3M | 9.1% | ▼ 10.0% |
| Sanofi | $110M | 1.2M | 8.1% | 0.0% |
| Viking Global Investors LP | $106M | 1.1M | 7.8% | ▼ 21.8% |
| Hightower Advisors, LLC | $82.5M | 871K | 6.1% | 0.0% |
| Bank Of America Corp | $79.7M | 841K | 5.9% | ▲ 2473.6% |
| Blackrock, Inc. | $78.3M | 826K | 5.8% | ▲ 3.4% |
| Schonfeld Strategic Advisors LLC | $66.1M | 698K | 4.9% | ▲ 173.7% |
| State Street Corp | $60.7M | 640K | 4.5% | ▲ 16.3% |
| Vanguard Capital Management LLC | $46.7M | 492K | 3.4% | ▲ 1.2% |
| Woodline Partners LP | $38M | 401K | 2.8% | ▲ 4.3% |
| Capital Research Global Investors | $34.4M | 363K | 2.5% | ▼ 7.6% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Inhibrx Biosciences, Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Lappe Mark Chief Executive Officer | October 14, 2026 | Buy | 2,451 | $85.00 | $208,333 |
| Lappe Mark Chief Executive Officer | October 14, 2026 | Buy | 2,449 | $84.07 | $205,889 |
| Lappe Mark Chief Executive Officer | October 14, 2026 | Buy | 100 | $85.76 | $8,576 |
| Lappe Mark Chief Executive Officer | October 14, 2026 | Buy | 2,470 | $85.00 | $209,948 |
| Lappe Mark Chief Executive Officer | October 14, 2026 | Buy | 2,470 | $84.07 | $207,655 |
| Lappe Mark Chief Executive Officer | September 28, 2026 | Buy | 3,000 | $101.70 | $305,100 |
| Lappe Mark Chief Executive Officer | September 28, 2026 | Buy | 1,500 | $98.88 | $148,320 |
| Lappe Mark Chief Executive Officer | September 25, 2026 | Buy | 2,176 | $99.60 | $216,730 |
| Lappe Mark Chief Executive Officer | September 25, 2026 | Buy | 3,324 | $98.87 | $328,644 |
| Kayyem Jon Faiz Director | September 23, 2026 | Buy | 5,000 | $100.00 | $500,000 |
| Kayyem Jon Faiz Director | September 16, 2026 | Buy | 5,000 | $100.00 | $500,000 |
| Manhard Kimberly Director | September 15, 2026 | Sell | 500 | $105.05 | $52,525 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around November 13, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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