On August 8, 2024, IN8bio, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the second quarter ended June 30, 2024, and provided updates on its corporate highlights. The company reported a net loss of $8.6 million, or $0.19 per share, compared to a net loss of $7.7 million, or $0.27 per share, in the same period the previous year. Research and Development expenses increased to $5.2 million, primarily due to higher personnel-related costs and direct clinical costs. General and administrative expenses remained stable at $3.5 million. The company's cash position decreased to $10.2 million from $21.3 million as of December 31, 2023. IN8bio also disclosed that it had received a notification from Nasdaq regarding the bid price of its common stock, which had closed below the minimum $1.00 per share for 31 consecutive...Show More

On August 8, 2024, IN8bio, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the second quarter ended June 30, 2024, and provided updates on its corporate highlights. The company reported a net loss of $8.6 million, or $0.19 per share, compared to a net loss of $7.7 million, or $0.27 per share, in the same period the previous year. Research and Development expenses increased to $5.2 million, primarily due to higher personnel-related costs and direct clinical costs. General and administrative expenses remained stable at $3.5 million. The company's cash position decreased to $10.2 million from $21.3 million as of December 31, 2023. IN8bio also disclosed that it had received a notification from Nasdaq regarding the bid price of its common stock, which had closed below the minimum $1.00 per share for 31 consecutive business days. The company has until February 3, 2025, to regain compliance with Nasdaq's minimum bid price requirement. In terms of corporate highlights, IN8bio presented positive Phase 1 data at various conferences, showing promising results for its gamma-delta T cell therapies, INB-100 and INB-200, in treating hematologic malignancies and glioblastoma, respectively. The company emphasized its commitment to monitoring its stock's closing bid price and exploring options to regain compliance with Nasdaq's listing requirements.