Inhibrx Biosciences, Inc. · NASDAQ:INBX
Inhibrx Biosciences — Investor Presentation (August 2025)
33 slides from Inhibrx Biosciences's investor presentation, August 2025
Slide 1: Inhibrx Investor Presentation
INHIBRX Investor Presentation Innovation Driven Outcomes Focused
Slide 2: Presentation disclaimer
Presentation disclaimer This presentation of Inhibrx Biosciences, Inc. (the “Company”) contains forward-looking 10-Q, and supplemented from time to time by our Current Reports on Form 8-K. The Company statements. In some cases, you can identify forward-looking statements by the words “will,” may not
Slide 3: Our mission: To discover & develop effective biologic treatments
Our mission: To discover & develop effective biologic treatments for people with life-threatening conditions Key financial highlights: (as of 6/30/2025) >300 ozekibart (INBRX-109) $186.6M ~130 Patients treated to date Cash and cash employees with Biosciences equivalents an experienced >175 leadershi
Slide 4: Inhibrx's innovative approach to therapeutic discovery
Inhibrx’s innovative approach to therapeutic discovery Our core belief: Our technology and protein engineering expertise enables us to efficiently identify optimal therapeutic formats bespoke to the target biology. Modular protein Rapid and iterative optimization process Therapeutics tailored to dis
Slide 5: Current clinical pipeline
Current clinical pipeline Programs Upcoming milestones ozekibart (INBRX-109) +Registration-enabling chondrosarcoma data tetravalent October 2025 DR5 agonist +Interim 3-4L colorectal data +Interim 2-3L Ewing sarcoma +Phase 2 initial data from Phase 2/3 randomized HNSCC Q4 2025 INBRX-106 + Phase 1/2 C
Slide 6: ozekibart (INBRX-109)
Goal: To develop a more precise DR5 agonist able to selectively induce apoptosis in tumor cells Empirically selected tetravalent DR5 agonist that restricts ozekibart unwanted secondary clustering (INBRX-109) tetravalent DR5 agonist DR5 agonists with limited on target effect or unwanted off tumor tox
Slide 7: ozekibart Clinical Data
ozekibart Clinical Data (INBRX-109) tetravalent DR5 agonist
Slide 8: Phase 1 data in unresectable or metastatic conventional chondrosarcoma
Phase 1 data in unresectable or metastatic conventional chondrosarcoma INBRX-109 Response SD × SD ► SD ► SD × SD × SD ○ SD ► SD × SD ► SD × SD × ** SD × SD × SD × SD × PR ▲ × SD × SD × SD × SD × SD × * SD × * SD ○ PR ▲ × SD ○ SD ○ SD × SD × SD × SD × Nonconventional chondrosarcoma ORR, n (%) 2 (3.7)
Slide 9: Ongoing registration-enabling trial in conventional chondrosarcoma
Ongoing registration-enabling trial in unresectable or metastatic INBRX-109 conventional chondrosarcoma Data readout expected October 2025 + FDA fast track designation and orphan-drug ozekibart (INBRX-109) designation N=134 + EMA orphan-drug designation Primary endpoint: 3 mg/kg every three weeks Pr
Slide 10: Early results in colorectal adenocarcinoma in combination with FOLFIRI
Early results in colorectal adenocarcinoma in combination with FOLFIRI INBRX-109 Response and time on treatment Efficacy Response (No. of prior LOTs) CR (3) + Of the 13 patients who received ozekibart, 4 had responses SD (1) (30.8%; partial response, n=3; complete response, n=1) PR (4) SD (3) – One
Slide 11: Early results in phase 1 metastatic, unresectable Ewing sarcoma
Early results in phase 1 metastatic, unresectable Ewing sarcoma INBRX-109 Best tumor response Efficacy PR Disease control rate was 76.9%, PR SD PR a Classical EWS Other RCS 76.9% or 10 out of 13 patients PR ozekibart (INBRX-109) (n=13)b Durable clinical benefitc as measured by RECISTv1.1. PR Best ov
Slide 12: Ongoing phase 1/2 trial in Ewing sarcoma and colorectal adenocarcinoma
Ongoing phase 1/2 trial in Ewing sarcoma and colorectal adenocarcinoma INBRX-109 CRC 3-4L with FOLFIRI Key inclusion N=50 criteria • LA/M, unresectable, R/R colorectal adenocarcinoma Ozekibart 3 mg/kg + FOLFIRI Primary endpoints: • Aged 18 to <85 years (FU, 2400 mg/m2; Clinical response, including •
Slide 13: Ozekibart Preclinical data and MOA
Preclinical data and MOA Ozekibart (INBRX-109) tetravalent DR5 agonist
Slide 14: ozekibart is a potent inducer of extrinsic cell death via the DR5 pathway
ozekibart (INBRX-109) is a potent inducer INBRX-109 of extrinsic cell death via the DR5 pathway TRAIL ozekibart (INBRX-109) DR5 DR5 DR5 FADD FADD FADD Tumor cell Caspase activation Tumor cell Caspase activation Tumor cell Caspase activation Apoptosis moderate strong Apoptosis Apoptosis DR5 (TRAIL-R2
Slide 15: ozekibart: a next generation DR5 agonist with optimized efficacy and safety
ozekibart (INBRX-109): a next generation DR5 agonist INBRX-109 with an optimized balance of efficacy and safety Death Receptor 5 (DR5 / TRAIL-R2) is highly expressed on ozekibart (INBRX-109) characteristics: tumorigenic, transformed or damaged cells but not normal cells, making DR5 a promising thera
Slide 16: ozekibart is precision-engineered for optimal potency and safety
ozekibart (INBRX-109) is precision-engineered INBRX-109 for optimal potency and safety Valency drives both DR5-induced tumor cell death and hepatocyte destruction Impact of valency on DR5-mediated cell death Impact of valency on hepatotoxicity Impact of valency on cell death: Impact of valency on ce
Slide 17: ozekibart is a best-in-class DR5 agonist with no competition
ozekibart (INBRX-109) is a best-in-class DR5 agonist with no competition INBRX-109 CANDIDATE VALENCY SIZE (KDA) STATUS INBRX-109 Tetravalent 105 Ongoing TAS-266* Tetravalent 60 Terminated Eftozanermin alpha (TRAIL-Fc Hexavalent 167 Terminated fusion) GEN1029 Dodecavalent 150 ka (2x mAbs) Terminated
Slide 18: INBRX-106
Goal: To develop a potent OX40 agonist able to induce robust signal activation strong strong Hexavalent OX40 agonist with enhanced clustering/signaling INBRX-106 hexavalent OX40 agonist weak Bivalent OX40 agonists elicit weak downstream signals with limited clinical activity Previous generation Inhi
Slide 19: INBRX-106 Clinical Data
INBRX-106 Clinical Data hexavalent OX40 agonist
Slide 20: INBRX-106 is a biologically active drug in patients
INBRX-106 is a biologically active drug in patients INBRX-106 Max fold change from baseline in percentage of Ki-67+ memory cells CD4+ 15 15 T-cells 10 10 Observed PD consistent with T-cell co- stimulation by INBRX-106 5 5 INBRX-106 induced dose-dependent 0 0 proliferation of CD4+ and CD8 + memory T-
Slide 21: Phase data: PD-L1+ CPI-R/R or CPI-naive HNSCC
Phase 1 data: PD-L1+ CPI-R/R or CPI-naive HNSCC INBRX-106 INBRX-106 with pembrolizumab 60 Cohort CPI-naïve (F4) 40 CPI-R/R (F1) NPC* patient (D2) PD 20 Best change from baseline, % 0 -20 PR -40 -60 -80 -100 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 PD-L1 CPS 0 100 0 30 1 10 75 20 100 100 10 5 24 90 25 + T
Slide 22: Phase data: PD-L1+ CPI-R/R NSCLC
Phase 1 data: PD-L1+ CPI-R/R NSCLC INBRX-106 INBRX-106 with pembrolizumab 60 40 Cohort F2 20 PD Change from baseline, % 0 -20 PR -40 -60 -80 -100 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 19 19 20 21 22 23 24 25 26 PD-L1 TPS 60 20 95 10 80 80 90 2 11 20 3 75 10 10 35 1 50 1 1 10 41 100 50 60 100 90
Slide 23: Seamless Phase 2/3 study in 1L R/M HNSCC with PD-L1 CPS ≥20
Seamless Phase 2/3 study in 1L R/M HNSCC with PD-L1 CPS ≥20 INBRX-106 INBRX-106 with pembrolizumab Phase 2 data readout expected Q4 2025 Proof of concept study: If successful in HNSCC, has the potential to work broadly against all approved checkpoint indications Phase 2, Phase 3, Survival Randomizat
Slide 24: Ongoing Phase 1/2 trial in metastatic/recurrent NSCLC and HNSCC
Ongoing Phase 1/2 trial in metastatic/recurrent NSCLC and HNSCC INBRX-106 Readouts expected Q4 2025 NSCLC: CPI relapsed/refractory Primary endpoints: + Objective response rate (ORR) per Response Evaluation Key inclusion criteria N=60 Criteria in Solid Tumors (RECIST) version 1.1 and iRECIST, disease
Slide 25: INBRX-106 Preclinical Data and MOA
strong INBRX-106 Preclinical Data and MOA hexavalent OX40 agonist
Slide 26: INBRX-106: mechanism of action
INBRX-106: mechanism of action INBRX-106 Effective OX40 agonism potentiates the body’s immune response towards a tumor T cell ↑ T cell TTcells cells TT ↑OX40 OX40 NK NKcells cells NK NK TCR TCR antigen antigen INBRX-106 Tumor MHC MHC Monocytes Monocytes Dendritic cell Tumor cell Tumor cell The T-Cel
Slide 27: OX40 T-cell costimulation validated by OX40 antagonists in autoimmune disease
OX40 T-cell costimulation in human disease is validated by OX40 INBRX-106 antagonists in autoimmune disease An anti-OX40 antibody to treat moderate-to-severe atopic dermatitis: a multicenter, double-blind, placebo-controlled phase 2b study 27 Lancet 2023; 401: 204–14
Slide 28: INBRX-106: uniquely designed to maximize OX40 signaling activation strength
INBRX-106: uniquely designed to maximize OX40 signaling activation INBRX-106 strength, leading to enhanced t-cell-driven anti-tumor activity INBRX-106 is designed to boost anti-tumor T-cell activity by INBRX-106 features: maximizing the strength of the OX40 co-stimulatory pathway Simultaneously enga
Slide 29: Receptor hyperclustering induces stronger OX40 signaling
Receptor hyperclustering induces stronger OX40 signaling and more INBRX-106 effective t-cell-driven anti-tumor activity Pathway T-cell proliferation activation OX40 OX40L T-cell survival T-cell differentiation Tumor cell Signaling Enhanced trafficking of death through T cells to the tumor OX40 Robus
Slide 30: INBRX-106 drives superior CD4+ and CD8+ T-cell activation and reduces Treg suppression
INBRX-106 drives superior CD4+ and CD8 + T-cell activation INBRX-106 and reduces Treg suppression CD4 T Cell Co-Stimulation1 Reversal of Treg Suppression2 ~2-fold increase vs bi-valent and untreated CD8 T Cell Co-Stimulation1 Hexavalent INBRX-106 engagement drives superior co-stimulation of both CD4
Slide 31: Hexavalent OX40 and PD-1 antibody combination enhances anti-tumor activity
Hexavalent OX40 and PD-1 antibody combination results in enhanced anti- INBRX-106 tumor activity in CPI-resistant tumor models Syngeneic B16F10 Mouse Tumor Model Vehicle Bivalent OX40 mAb Hexavalent INBRX-106-a* OX40 agonism upregulates PD-L1 expression on CD4 and CD8 T-cells supporting rationale of
Slide 32: INBRX-106 is a first and potentially best-in-class multi-valent OX40 agonist
INBRX-106 is a first and potentially best-in-class multi-valent OX40 agonist INBRX-106 CANDIDATES VALENCY STATUS INBRX-106 Hexa- Phase 2/3 GEN1055/BNT315 Dodeca- Phase 1 MOXR-0916 Bi- Terminated GSK-3174998 Bi- Terminated BMS-986178 Bi- Terminated INCAGN-1949 Bi- Terminated ABBV-368 Bi- Terminated I
Slide 33: Investor Relations
Investor Relations: KELLY DECK, CPA CFO 11025 N. Torrey Pines Road Suite 140 La Jolla, CA 92037 858.795.4260 ir@inhibrx.com
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