Inhibrx, Inc. [INBX] reports annual net loss of $241,361,000.0
![Inhibrx, Inc. [INBX] reports annual net loss of $241,361,000.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FINBX.png&w=3840&q=75)
Company Reports Revenue of $1.8 million
Inhibrx, Inc. [INBX] has reported a net loss of $241,361,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.8 million
Based in LA JOLLA, California, Inhibrx, Inc. operates in the MANUFACTURING sector.
The annual Income Statement data for the fiscal year ending December 31, 2023, compared to the previous year's period ending December 31, 2022, is presented below:
Revenue:
- Total revenue for the current period is reported at $1.8 million, down from $2.192 million in the same period last year. This represents a decrease in revenue.
Operating Expenses:
- Research and development expenses amounted to $191.64 million in the current period, compared to $110.186 million in the previous period.
- General and administrative expenses stood at $29.381 million this year, higher than $21.123 million in the prior year.
- Total operating expenses amounted to $221.021 million for the current period, significantly higher than the $131.309 million reported in the previous period.
Loss from Operations:
- The loss from operations for the current year is reported at $(219.221) million, a wider loss compared to $(129.117) million in the previous year.
Other Income (Expense):
- Interest expense for the current period totaled $(31.84) million, increasing from $(18.181) million in the prior year.
- Interest income increased to $11.917 million in the current period from $2.074 million in the previous period.
- The total other expense for the current period was $(20.503) million, higher than $(16.106) million in the previous year.
Net Income/Loss:
- The net loss for the current period amounted to $(241.361) million compared to $(145.226) million in the previous period, reflecting a wider loss.
Earnings per Share:
- The basic and diluted net loss per share for the current period is reported at $(5.12) and $(5.12) respectively, higher than $(3.62) for both basic and diluted EPS in the previous year.
In conclusion, the company experienced a significant decline in revenue and widening losses in the current reporting period compared to the same period in the previous year. Operating expenses and interest expenses also increased, contributing to the overall higher net loss reported. The earnings per share also deteriorated in the current period.
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