Inhibrx Shares Slip as Firm Ups Debt Load to $500 Million

Investors pushed Inhibrx Biosciences shares down 4.4% to $87.22 following news that the clinical-stage firm has expanded its credit facility with Oxford Finance to $500 million. This move comes as the company seeks to secure its financial runway while preparing for critical clinical data readouts.

Today, 17:48· Money Talk· 998 reads

Inhibrx Shares Slip as Firm Ups Debt Load to $500 Million

The expansion adds $325 million to the company’s original $175 million loan agreement. To finalize the arrangement, Inhibrx issued warrants allowing lenders to purchase 21,457 shares of common stock at a strike price of $93.21 per share. Despite the immediate market dip, the stock maintains a 10% gain since the beginning of the year.

Chief Financial Officer Kelly Deck indicated the capital injection is intended to sustain momentum for the company's core precision-engineered immunotherapies, ozekibart and INBRX-106. The firm remains in a pivotal phase, positioning these assets for upcoming testing milestones.

Inhibrx Shares Slip as Firm Ups Debt Load to $500 Million

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