IN8bio Announces Q1 2024 Financial Results and Corporate Updates

IN8bio, Inc., a clinical-stage biopharmaceutical company specializing in gamma-delta T cell therapies, recently shared its financial results for the first quarter ending March 31, 2024, alongside significant corporate developments. William Ho, CEO and co-founder, highlighted substantial advancements in their gamma-delta T cell programs during the first quarter.

The company presented promising preclinical data for its non-signaling Chimeric Antigen Receptor (nsCAR) platform at the American Association for Cancer Research (AACR) 2024 Annual Meeting. This data demonstrated the platform's efficacy in targeting and destroying acute myeloid leukemia (AML) cells by focusing on CD33 and/or CD123, while preserving healthy bone marrow cells. These findings underscore the potential of nsCAR technology to precisely target cancer cells without the typical off-tumor toxicity. An update on the Phase 1 study of INB-100 will be provided at the 2024 European Hematology Association (EHA) Annual Meeting, including patient status and survival data. The company plans to enroll ten additional patients in an expansion cohort at the recommended Phase 2 dose and may submit an investigational new drug (IND) application for a Phase 2 randomized control trial within the year.

Additionally, at the American Society of Clinical Oncology (ASCO) Annual Meeting, IN8bio will share updates on its Phase 1 INB-200 study in glioblastoma multiforme (GBM), which has shown initial efficacy supporting the ongoing INB-400 trial. The company announced that the first patient has been dosed in the autologous arm of the INB-400 Phase 2 clinical trial for newly diagnosed GBM patients.

Recent corporate highlights include presenting data at the AACR 2024, reinforcing the potential of nsCAR constructs targeting CD33 and/or CD123 for various leukemia types, including AML and chronic myeloid leukemia (CML). The company also noted significant differences between cells expressing traditional signaling CARs and nsCAR constructs, particularly in reducing activation-induced cell death with nsCAR constructs.

A peer-reviewed publication in ‘Frontiers in Immunology’ detailed IN8bio’s DeltEx Drug Resistant Immunotherapy (DRI) strategy for newly diagnosed GBM. This approach represents a significant therapeutic advancement. The first patient has been dosed in the Phase 2 autologous arm of INB-400, targeting newly diagnosed GBM.

Upcoming milestones and events include an oral presentation at the American Society of Gene & Cell Therapy (ASGCT) 2024 Annual Meeting, which will reveal new data on the DeltEx DRI product. Interim results from the ongoing Phase 1 INB-100 trial will be reported at the 2024 EHA Annual Meeting. The company may also submit an IND application for a Phase 2 trial for AML and myelodysplastic syndrome (MDS) patients within the year. Interim results from the Phase 1 INB-200 study in GBM will be showcased at various medical meetings in 2024, including the ASCO Annual Meeting. The Phase 2 autologous arm of INB-400 has initiated patient dosing, with plans to treat up to 40 patients across multiple U.S. sites.

Financially, IN8bio reported R&D expenses of $4.9 million for the quarter, up from $4.4 million the previous year, primarily due to increased personnel costs and direct clinical expenses for INB-100, INB-200, and INB-400 trials. General and administrative expenses rose to $3.7 million from $3.5 million, mainly due to higher personnel-related costs, offset by savings in insurance premiums and professional services. The net loss for the quarter was $8.6 million, compared to a net loss of $7.5 million the prior year. As of March 31, 2024, the company held $13.0 million in cash, down from $21.3 million on December 31, 2023.

IN8bio is dedicated to developing gamma-delta T cell-based immunotherapies. Their leading program, INB-400, is in a Phase 2 trial for GBM, with additional Phase 1 trials for other solid and hematologic tumors, including INB-200 and INB-100.