Management maintains a conservative capital structure with a debt-to-equity ratio of 0.10, though total assets have contracted significantly from $33.7 million in 2023Q4 to $26.3 million in 2026Q1.
| Total Current Assets | 22.66M | 27.88M | 12.58M | 24.63M | 22.23M | 38.98M | 18.14M | 763K | 5.07M |
| Cash & Short-Term Investments | 21.94M | 27.09M | 11.12M | 21.28M | 18.18M | 37.02M | 17.99M | 610K | 4.99M |
| Cash Only | 21.94M | 27.09M | 11.12M | 21.28M | 18.18M | 37.02M | 17.99M | 610K | 4.99M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30K |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15K |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | 57.03 |
| Other Current Assets | 721K | 788K | 298K | 270K | 232K | 52K | 0 | 0 | 37K |
| Total Non-Current Assets | 3.6M | 4.4M | 8.37M | 9.08M | 10.8M | 3.24M | 2.77M | 367K | 823K |
| Property, Plant & Equipment | 3.25M | 4.04M | 7.83M | 8.57M | 10.3M | 2.83M | 186K | 274K | 795K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 126K | 0 | 0 | 0 | 0 |
| Long-Term Investments | 764K | 220K | 266K | 256K | 252K | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 349K | 146K | 275K | 255K | 381K | 409K | 2.58M | 93K | 28K |
| Total Assets | 26.27M | 32.28M | 20.94M | 33.71M | 33.04M | 42.22M | 20.91M | 1.13M | 5.89M |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - |
| Asset Growth % | 77.46% | 54.13% | -37.87% | 2.03% | -21.75% | 101.93% | 1750.44% | -80.83% | - |
| Total Current Liabilities | 2.16M | 3.16M | 3.08M | 5.39M | 5.82M | 2.26M | 2.57M | 647K | 419K |
| Accounts Payable | 449K | 309K | 389K | 924K | 2.09M | 395K | 620K | 560K | 419K |
| Days Payables Outstanding | - | 45.1 | - | 134.85 | - | - | - | 2.13K | 1.59K |
| Short-Term Debt | 1.03M | 1.22M | 1.65M | 0 | 0 | 0 | 174K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 681K | 1.63M | 1.05M | 1.67M | 1.46M | 926K | 876K | 0 | 0 |
| Current Ratio | 10.50x | 8.82x | 4.08x | 4.57x | 3.82x | 17.28x | 7.05x | 1.18x | 12.11x |
| Quick Ratio | 10.50x | 8.82x | 4.08x | 4.57x | 3.82x | 17.28x | 7.05x | 1.18x | 12.07x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.33M | 1.56M | 3.38M | 3.38M | 4.49M | 1.78M | 17K | 829K | 829K |
| Long-Term Debt | 1.33M | 1.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 5.62M | 0 | 3.38M | 3.38M | 4.49M | 1.78M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 17K | 829K | 829K |
| Total Liabilities | 3.48M | 4.72M | 6.47M | 8.77M | 10.31M | 4.04M | 2.59M | 1.48M | 1.25M |
| Total Debt | 2.35M | 2.78M | 5.03M | 4.89M | 5.87M | 2.41M | 174K | 0 | 0 |
| Net Debt | -19.59M | -24.31M | -6.09M | -16.39M | -12.31M | -34.61M | -17.82M | -610K | -4.99M |
| Debt / Equity | 0.10x | 0.10x | 0.35x | 0.20x | 0.26x | 0.06x | 0.01x | - | - |
| Debt / EBITDA | -0.14x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.14x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | -147.64x |
| Total Equity | 22.78M | 27.56M | 14.48M | 24.94M | 22.73M | 38.18M | 18.32M | -346K | 4.65M |
| Equity Growth % | 219.96% | 90.34% | -41.94% | 9.7% | -40.47% | 108.41% | 5395.09% | -107.45% | - |
| Book Value per Share | 1.17 | 6.30 | 0.27 | 0.83 | 1.08 | 2.03 | 0.95 | -0.02 | 0.24 |
| Total Shareholders' Equity | 22.78M | 27.56M | 14.48M | 24.94M | 22.73M | 38.18M | 18.32M | -346K | 4.65M |
| Common Stock | 10K | 10K | 7K | 4K | 3K | 2K | 1K | 1K | 1K |
| Retained Earnings | -146.19M | -141.1M | -121.66M | -91.22M | -61.21M | -32.69M | -18.04M | -9.48M | -4.35M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial liquidity constraints
As reported in recent financial filings, INAB's total assets have contracted from $33.7 million in 2023Q4 to $26.3 million by 2026Q1, reflecting a consistent depletion of resources as the company funds its high-cost clinical pipeline without the benefit of any offsetting commercial revenue streams.
The downward trend in total assets suggests that the company is consuming its capital base to sustain research operations, which may limit its future strategic flexibility. Investors should monitor whether this trajectory forces a shift toward more dilutive financing options as the cash runway continues to shorten.
Based on the company's reported figures, INAB maintains a conservative debt-to-equity ratio of 0.10 as of 2026Q1, indicating that management has avoided significant debt financing despite the persistent cash burn associated with its ongoing clinical trials and research infrastructure development.
While the low leverage profile reduces immediate interest expense pressure, it also highlights the company's total dependence on equity markets for survival. This reliance suggests that the balance sheet is not currently structured to support long-term debt obligations, leaving the firm vulnerable to equity market volatility.
According to quarterly balance sheet data, INAB's cash position declined to $21.9 million in 2026Q1 from a peak of $27.1 million in 2025Q4, signaling that the company's liquidity buffer is shrinking rapidly as it continues to fund its intensive cell therapy manufacturing and clinical trial programs.
The current ratio of 10.50 appears deceptively high due to the lack of significant current liabilities, but the absolute cash level remains the primary constraint on operations. This liquidity profile warrants close investigation, as the company may face a critical funding decision within the next several quarters.
Financial statements indicate that INAB's asset base is primarily composed of cash and net property, plant, and equipment, with PPE declining from $9.2 million in 2024Q1 to $3.3 million in 2026Q1, suggesting a strategic reduction in capital-intensive infrastructure as the company prioritizes clinical trial execution.
The reduction in PPE may imply a shift toward more efficient manufacturing or a scaling back of internal laboratory capabilities to preserve cash. This asset composition confirms the company's status as a pure-play clinical entity with minimal tangible assets to support its valuation in the event of a trial failure.
Quick answers to the most common questions about buying INAB stock.
As of 2025, IN8bio, Inc. (INAB) had total assets of $32.3M including $27.9M in current assets.
IN8bio, Inc. (INAB) carries total debt of $2.8M, offset by $27.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
IN8bio, Inc. (INAB) has total shareholders' equity (book value) of $27.6M ($6.30 book value per share). Book value represents the net worth of the company belonging to common stock holders.
IN8bio, Inc. (INAB) reported a current ratio of 8.82x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.