IN8BIO, INC.

Listed Company

INABCIK 0001740279NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-19.44M

Total Assets

$32.28M

Equity

$27.56M

Shares Out

9.77M

Op. Cash Flow

$-12.71M

Business

IN8BIO, INC. is a clinical-stage biopharmaceutical company developing gamma-delta T cell therapies and gamma-delta T cell engagers (TCEs) for cancer and autoimmune diseases. It offers ex vivo expanded and genetically modified allogeneic, autologous and iPSC-derived gamma-delta T cell product candidates and TCEs built on its proprietary DeltEx platform, including clinical programs INB-100, INB-200/400, preclinical INB-300/500 and a TCE program INB-600. Key business activities include clinical development, genetic engineering, scalable cell-type specific manufacturing and licensing. The company conducts investigator- and company-sponsored clinical trials primarily in the United States, uses academic and third-party GMP manufacturing partners, and pursues strategic collaborations for broader commercialization.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	10	17	17	14	7
General and administrative	10	13	14	14	7
Severance and related charges	0	1	0	—	—
Total operating expenses	20	31	30	29	15
Interest income	421,000	230,000	0	—	—
Loss from operations	−19	−30	−30	−29	−15
Net loss	−19	−30	−30	−29	−15
Net loss per share - basic	−4.44	−17.05	−1	−1.36	−1.47
Net loss per share - diluted	−4.44	−17.05	−1	−1.36	−1.47
Weighted-average number of shares used in computing net loss per common share - basic	4	2	30	21	10
Weighted average number of shares used in computing net loss per share - diluted	4	2	30	21	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	27	11	21	18	37
Prepaid expenses and other current assets	788,000	1	3	4	2
Total Current Assets	28	13	25	22	39
Property and equipment, net	2	3	4	4	97,000
Restricted cash	220,000	266,000	256,000	252,000	251,000
Right-of-use assets - finance leases	296,000	1	1	2	704,000
Right-of-use assets - operating leases	2	4	4	4	2
Other non-current assets	146,000	275,000	255,000	255,000	158,000
Total Non-Current Assets	4	8	9	11	3
Total Assets	32	21	34	33	42
Accounts payable	309,000	389,000	924,000	2	395,000
Accrued expenses and other current liabilities	2	1	3	2	1
Short-term finance lease liability	295,000	694,000	694,000	682,000	392,000
Short-term operating lease liability	924,000	953,000	820,000	707,000	234,000
Total Current Liabilities	3	3	5	6	2
Long-term finance lease liability	0	295,000	525,000	811,000	269,000
Long-term operating lease liability	2	3	3	4	2
Total Non-Current Liabilities	2	3	3	4	2
Total Liabilities	5	6	9	10	4
Preferred stock, par value $0.0001 per share; 10,000,000 shares authorized at December 31, 2025 and 2024. No shares issued and outstanding	0	0	0	0	0
Common stock, par value $0.0001 per share; 490,000,000 shares authorized at December 31, 2025 and 2024; 9,766,132 and 2,416,066 shares issued and outstanding at December 31, 2025 and 2024, respectively	10,000	7,000	4,000	3,000	2,000
Additional paid-in capital	169	136	116	84	71
Accumulated deficit	−141	−122	−91	−61	−33
Total Stockholders' Equity	28	14	25	23	−38
Total Liabilities and Stockholders' Equity	32	21	34	33	42

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−19	−30	−30	−29	−15
Depreciation and amortization	1	1	1	100,000	100,000
Non-cash stock-based compensation	3	5	4	3	2
Amortization of finance lease right-of-use assets	771,000	859,000	871,000	461,000	537,000
Amortization of operating lease right-of-use assets	730,000	820,000	668,000	495,000	162,000
Loss on disposal of construction in progress	0	45,000	0	—	—
Prepaid expenses and other current assets	670,000	2	689,000	−2	−2
Other non-current assets	129,000	−20,000	0	−97,000	−159,000
Accounts payable	−80,000	−535,000	−981,000	2	−319,000
Accrued expenses and other current liabilities	586,000	−2	796,000	924,000	554,000
Short-term operating lease liabilities	612,000	134,000	112,000	112,000	158,000
Long-term operating lease liabilities	−879,000	−972,000	−820,000	−526,000	−197,000
Net cash used in operating activities	−13	−24	−23	−24	−14
Purchases of property and equipment	0	−104,000	−405,000	−4	0
Construction in progress	0	−83,000	−195,000	−16,000	−309,000
Net cash used in investing activities	0	−187,000	−600,000	−4	−309,000
Proceeds from the issuance of common stock, net of issuance costs	9	4	14	10	36
Principal payments on finance leases	−693,000	−794,000	−798,000	−615,000	−535,000
Net cash provided by financing activities	29	14	27	9	33
Net increase (decrease) in cash and restricted cash	16	−10	3	−19	19
Initial measurement of operating lease right-of-use assets and liabilities	0	714,000	0	3	2
Initial measurement of finance lease right-of-use assets and liabilities	0	564,000	536,000	1	0
Lease modification of operating lease right-of-use assets and liabilities	−1	492,000	0	—	—
Lease modification of finance lease right-of-use assets and liabilities	−1,000	0	7,000	0	—
Transfer of construction in progress to property and equipment	0	221,000	29,000	403,000	0

Filings

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