Inhibrx Biosciences, Inc. Common Stock
INBXInhibrx Biosciences, Inc. (INBX) is a biotech company focused on developing innovative therapies primarily in the areas of oncology, immunology, and rare diseases. Utilizing a proprietary protein discovery platform, Inhibrx designs targeted biologics and therapeutic candidates to address unmet medical needs. The company aims to advance its pipeline through preclinical and clinical development, emphasizing precision medicine approaches.
Company News
U.S. stock markets hit record highs after September's inflation data showed a softer-than-expected 3% annual rate, boosting investor confidence in potential Federal Reserve interest rate cuts. Major indices like S&P 500 and Dow Jones reached new peaks, with technology stocks leading the rally.
JMP Securities initiated coverage on Inhibrx Inc. with a Market Perform rating following the acquisition of INBRX-101 by Sanofi. The newly formed Inhibrx Biosciences has a strong financial foundation, but faces challenges with negative profitability metrics.
Inhibrx, Inc. (INBX) delivered earnings and revenue surprises of -61.68% and 1,534%, respectively, for the quarter ended December 2023. Do the numbers hold clues to what lies ahead for the stock?
Historically, consumer sentiment doesn't usually pick up while the business outlook is gloomy, except coming out of recessions.
