Inhibrx Biosciences, Inc. has announced its financial results for the first quarter of 2025, revealing a net loss of $43.3 million, a decrease from the net loss of $78.7 million in the same period of 2024. The company's cash and cash equivalents increased to $216.5 million as of March 31, 2025, up from $152.6 million at the end of 2024. This increase was primarily attributed to the receipt of $100 million in gross principal under a loan agreement with Oxford Finance LLC. Research and development expenses for the quarter decreased to $36.9 million from $63.9 million in the first quarter of 2024, largely due to reduced clinical trial and contract manufacturing expenses following the spin-off of the INBRX-101 program. General and administrative expenses also fell to $6.0 million from $10.0 million, mainly due to a decrease in non-cash stock option expenses and lower professional service expenses after the spin-off transaction. Inhibrx continues to focus on its two ongoing clinical trials, with data readouts expected within the year. Notably, data from the registration-enabling Phase 2 trial of INBRX-109 in unresectable or metastatic conventional chondrosarcoma is anticipated in the third quarter of 2025, and interim data from the Phase 1/2 trial in checkpoint inhibitor refractory or relapsed non-small cell lung cancer is expected in the fourth quarter of 2025.