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Inhibrx, Inc. (INBX)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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24.46+0.93 (+3.95%)
At close: 04:00PM EDT
23.97 -0.49 (-2.00%)
After hours: 07:52PM EDT
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  • M
    MDinvestor
    Ford Equity Research just published their analysis of Inhibrx. They rate it as a sell. Revenue fell to just over $2 million this year, yet the company if valued at $1.3 billion? In what financial universe does that make sense? Inhibrx is hemorrhaging money with massive executive team compensation packages. On top of that, they are remodelling the very expensive oceanfront space they occupy with art ($6 million) instead of investing the funds in instruments and reagents. Inhibrx is spending money as though they are Pfizer or Eli Lilly with billions of drug sales on the books. Expect multiple rounds of future INBX share dilution in the form of issuing new shares to cover their frivolous spending. Just watch.
    Bearish
  • M
    MDinvestor
    Entertaining to watch as INBX IPO underwriters continue to keep this stock from crashing on the secondary market by using stabilizing bids. But they only have so much they can do. Will the floor drop out?

    Definition:
    A stabilizing bid is a purchase of stock by underwriters to stabilize or support the secondary market price of a security immediately following an initial public offering (IPO). After an IPO, the price of the newly issued shares may falter or be shaky in trading.
  • M
    MDinvestor
    I've followed the research of others and did a little digging on my own. INBX does not look promising.

    1) Poor financials. Huge losses of $51.4 MILLION in 2019 and $38 MILLION in only the first 6 months of 2020. INBX claims it is due to "increased R&D costs", but it turns out that they moved into a very expensive building two years ago, overlooking Torrey Pines Golf Course with ocean views. No way, as an investor, am I going to pay for those views until they have a successful drug portfolio established. INBX is spending $ as though they are Celgene or Eli Lilly already. That kind of reckless spending rarely ends well.

    2) Bad track record. This company is not new. It was founded in 10 years ago. They sold a CD47 antibody to Celgene. That program was terminated relatively quickly. INBX then sold a GITR antibody to Five Prime. That program was terminated almost immediately. Neither of those companies provided an explanation as to why they terminated the deals, that I can find. I'm speculating the antibodies showed some non-specific cross-reactivity and both Celgene and Five Prime discovered this early on? Purely speculative. Maybe the TOX studies came back poor? Either way, those companies got burned by INBX, IMO. That's what happens when you don't do your due diligence.

    3) A biotech founded 10 years ago with virtually no success stories (except grants and a small licensing deal to Bluebird (another poorly run company)) values itself at $119 MILLION???!!!

    The only ones getting rich off this deal are the VC firms and company management. No way am I going near this one yet.
    Bearish
  • J
    JC
    Came up on a screen for vulnerable companies likely to experience heavy selling pressure. I found @MDinvestor's post interesting. Everyone is abandoning the ship. $15 or lower seems like a reasonable price target.
  • j
    jason
    Is this ipo launching 18th or 19th?
  • T
    T4L
    Why is 17% up after hour today?
  • Y
    Yahoo Finance Insights
    INBX is up 15.59% to 16.98
  • Y
    Yahoo Finance Insights
    Inhibrx is up 11.94% to 35.15
  • J
    Jerry
    going to run up nicely for a few days
    Bullish
  • w
    wil
    help I paid 22.00 now losing
  • E
    Eraser
    price target in a week = $8-10
  • M
    MDinvestor
    Did you see the latest update from Inhibrx? They gave a summary of clinical results on INBRX-109, an antibody against a tiny chondrosarcoma patient population. I guess they will have to charge patients hundreds of thousands of dollars per treatment to get a return for investors and more importantly make themselves rich considering the other program is exploring 'combinatorial' efficacy with Keytruda since their standalone drug is not impressive enough on its own. But the best part of all is they slipped in the fact (at the end) that Oxford Finance extended $40 million to Inhibrx as a loan. I'm sure Oxford secured extremely favorable loan terms to extend that lifeline. This begs the question "Will there be anything left over for retail investors"? Because this huge debt will certainly negatively impact profitability. This is an extremely risky company to invest in, IMO.
    Bearish
  • M
    MDinvestor
    Tons of debt. Nothing but failures over the past 10 years. This is not a hot young startup. It is a company that is hugely in debt and needs your money to cover their lavish expenditures.
    Bearish
  • S
    Sandeep
    Nasdaq website says Aug 18th today.
  • Y
    Yahoo Finance Insights
    INBX reached an all time high at 21.35
  • M
    Mr.koo
    What kind of stock
  • S
    St. ?
    not happy with this stock.
  • A
    A.I.R.
    the best antibody company you've never heard of will IPO soon - InhibrX, $INBX, helmed by my good friend Mark Lappe, wicked smart CEO, wicked smart team, great tech, great company

    @PDRennert
  • M
    MDinvestor
    Inhibrx Chief Medical Officer Klaus Wagner sold 176k of his total 215k shares at $24.43/share last year (2021) as soon as the lock-up period expired. That means he sold 82% of his total shares, and then he left the company. Do think the guy who is the Chief Medical Officer would do that if he thought the clinical trials were showing promise? Not a chance. It tells me that they have nothing promising left in the pipeline. The exit by the other top executives is the explanation point behind Wagner's exit.
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