Inhibrx Biosciences, Inc. · NASDAQ:INBX
Inhibrx Biosciences — Investor Presentation (March 2026)
26 slides from Inhibrx Biosciences's investor presentation, March 2026
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 12/31/2025) >300 ozekibart (INBRX-109) $124.2M ~110 Patients treated to date Cash and cash employees with Biosciences equivalents an experienced >175 leadersh
Slide 4: Maximizing strategic opportunity: INBRX-106 inflection point
Maximizing strategic opportunity: INBRX-106 inflection point Focus on Net Shareholder Preserving Strategic Mitigating tax risk Value Optionality Our high internal ownership is A potential ozekibart transaction In the event of an upward aligned with our investors’ is on pause as we await the valuatio
Slide 5: Near Term Expected Milestones
Near Term Expected Milestones PFS data for Ozekibart BLA randomized, first submission for Interim ORR data for line HNSCC the treatment of randomized, (INBRX-106/Pembro metastatic or first line HNSCC vs. Pembro) unresectable (INBRX-106/Pembro ESMO 2026 chondrosarcoma vs. Pembro) Congress Ozekibart (
Slide 6: INBRX-106
INBRX-106 Boosting PD-1 efficacy through next-generation hexavalent OX40 agonism
Slide 7: OX40 agonism enhances anti-tumor T cell activity in combo with PD-1 blockade
OX40 agonism enhances anti-tumor T cell activity in combo with PD-1 INBRX-106 blockade Optimized T cell activation by OX40 agonism and T-cell activation critical steps: PD-1 blockade The ignition The accelerator The brake Signal 1:TCR Signal 2: OX40 T-cell Check point tumor antigen co-stimulation in
Slide 8: Underwhelming activity among the 1st generation of bivalent OX40 therapeutics
Underwhelming activity among the 1st generation of bivalent OX40 INBRX-106 therapeutics Bivalent OX40 Agonists Previous attempts Low-order OX40 OX40 clustering by bivalent OX40 agonist Bivalent OX40 agonist Limitations of bivalent attempts Suboptimal target Bivalent IgG formats fail to drive high- o
Slide 9: INBRX-106 is a hexavalent agonist designed to maximize OX40 signaling
INBRX-106 is a hexavalent agonist designed to maximize OX40 signaling to INBRX-106 drive antitumor activity Hexavalent OX40 Agonist OX40 High-order OX40 clustering JITC Providence by INBRX-106 Publication INBRX-106 GFP AF647 detection Overlay Advantages of INBRX-106 format Hexavalent Simultaneously
Slide 10: Robust single-agent biological activity in patients
Robust single-agent biological activity in patients provides the foundation INBRX-106 for combination efficacy evaluation • INBRX-106 induces potent, dose- dependent expansion of CD4+ and CD8+ memory T cells. • Maximal T cell proliferation achieved at 0.1 mg/kg (RP2D), establishing a robust biologic
Slide 11: 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 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 + The NSCL
Slide 12: 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 13: Validate clinical activity in combo with CPI in randomized registrational study in 1L HNSCC
Validate clinical activity in combo with CPI in randomized INBRX-106 registrational study in 1L HNSCC Contribution of components - optimal study design to demonstrate meaningful benefit Randomized add-on (106 + pembro vs pembro) cleanly isolates the Phase 2, Phase 3, benefit added by 106, aligns wit
Slide 14: Broad Expandability: development plan to unlock opportunities in NSCLC, H&N and beyond
Broad Expandability: development plan to unlock opportunities in NSCLC, H&N and INBRX-106 beyond H&N Curative NSCLC Adv/Met 1L PD-1 Sensitive Indications Liver Kidney Breast Bladder 14
Slide 15: Inhibrx Path to Oncology Market Leadership
Inhibrx Path to Oncology Market Leadership INBRX-106 Demonstrate INBRX-106 Pursue significant market Expand INBRX-106 to Contribution of Benefit via value in NSCLC wherever PD-1s are Effective Head & Neck Three studies: pembro+106 in 1L TPS > 50% +10-20 additional indications 70 (chemo-free); 1L com
Slide 16: ozekibart (INBRX-109)
ozekibart (INBRX-109) Selectively inducing apoptosis in tumor cells through tetravalent DR5 agonism
Slide 17: Ozekibart registrational trial results: Unprecedented data in chondrosarcoma
Ozekibart (INBRX-109) registrational trial results INBRX-109 Unprecedented data in chondrosarcoma 52% reduction in Median PFS more Improved disease Regulatory progression or death than doubled control rate momentum HR 0.479; 5.52 months 54% vs 27.5% Orphan designations (FDA & EMA) P < 0.0001 vs 2.66
Slide 18: Primary endpoint: progression-free survival by CIRR
Primary endpoint: progression-free survival by CIRR INBRX-109 3 months 6 months 12 months Ozekibart Placebo 1.0 N=137 N=69 70.1% 0.8 Probability of PFS Events 94 (68.6) 55 (79.7) 47.2% 0.6 / Censored, n (%) / 43 (31.4) / 14 (20.3) 0.4 21.7% mPFS, 0.2 40.9% months 5.52 2.66 16.9% 9.7% Ozekibart 0.0 P
Slide 19: Progression-free survival by CIRR: subgroup analyses
Progression-free survival by CIRR: subgroup analyses INBRX-109 0 favors Ozekibart 1 2 3 Ozekibart Placebo Events, n/Na mPFS, mo Events, n/Na mPFS, mo HR (95% CI) IDH mutation Wild type 65/93 5.5 38/47 2.7 0.493 (0.324-0.750) status Mutant 29/44 5.5 17/22 2.3 0.442 (0.224-0.871) Prior Yes 38/58 5.3 2
Slide 20: Overall safety
Overall safety INBRX-109 Double-blind period Ozekibart Placebo N=136 N=67 Patients with ≥1 AE (including unrelated AEs), n (%) 129 (94.9) 62 (92.5) Grade ≥3 53 (39.0) 17 (25.4) SAE 38 (27.9) 12 (17.9) HAE 21 (15.4) 9 (13.4) Resulting in death 5 (3.7) 1 (1.5) Patients with ≥1 treatment-related AE, n
Slide 21: Ongoing phase 1/2 trial in colorectal adenocarcinoma in combination with FOLFIRI
Ongoing phase 1/2 trial in colorectal adenocarcinoma in combination with FOLFIRI INBRX-109 CRC 3-4L with FOLFIRI Key inclusion N=44 criteria • LA/M, unresectable, R/R colorectal adenocarcinoma Ozekibart 3 mg/kg + FOLFIRI • Aged 18 to <85 years (FU, 2400 mg/m2; • 2-3 prior lines of systemic therapy l
Slide 22: Initial expansion cohort data: colorectal adenocarcinoma with FOLFIRI
Initial expansion cohort data: colorectal adenocarcinoma in combination INBRX-109 with FOLFIRI 40 20 PD Recruitment completed 44 patients dosed with 26 patients currently evaluable for response Change from baseline, % 0 -20 N=44 + 70% are 4th line & 30% are 3rd line PR + >80% have received prior IRI
Slide 23: Ongoing phase 1/2 trial in Ewing sarcoma in combination with IRI/TMZ
Ongoing phase 1/2 trial in Ewing sarcoma in combination with IRI/TMZ INBRX-109 EWS 2-3L with IRI/TMZ Key inclusion N=50 criteria • LA/M, unresectable, R/R EWS Ozekibart 3 mg/kg + IRI 50 • Aged ≥12 to <85 years mg/m2/day + TMZ 100 mg/m2/day • EWSR1-FLI1, -ERG or -FEV rearrangement • 1-2 prior lines o
Slide 24: Updated data from expansion cohort: Ewing sarcoma with IRI/TMZ
Updated data from expansion cohort: Ewing sarcoma in combination INBRX-109 with IRI/TMZ 100 Recruitment ongoing 39 patients dosed with 31 patients 80 Prior IRI/TMZ Treatment currently evaluable for response: 60 No Change from baseline, % N=31 40 Progressive disease Yes 20 Disease control rate was 87
Slide 25: Ozekibart exhibits anti-tumor activity in GBM models
Ozekibart exhibits anti-tumor activity in GBM models as monotherapy and in combination with TMZ INBRX-109 Human GBM cell line models In vitro cytotoxicity In vitro cytotoxicity Intracranial U-87 MG Intracranial U-87 MG + Combination treatment with ozekibart U-87 MG GBM cell lines Survival analysis S
Slide 26: Investor Relations: Kelly Deck, CPA, CFO
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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