The company continues to operate without revenue, reporting a persistent quarterly operating loss of $5.1 million as of 2026Q1.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 2.5M | 0 | 2.5M | 0 | 0 | 0 | 96K | 96K |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | 0 | -2.5M | 0 | -2.5M | 0 | 0 | 0 | -96K | -96K |
| Gross Margin % | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | 100% | - | - | - | 100% | 0% | - |
| Operating Expenses | 19.16M | 17.36M | 30.44M | 27.84M | 28.52M | 14.65M | 8.56M | 5.07M | 2M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 9.62M | 9.65M | 12.64M | 13.51M | 14.46M | 7.31M | 3.18M | 2.71M | 1.42M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - |
| Research & Development | 9.85M | 10.21M | 16.96M | 16.83M | 14.06M | 7.35M | 5.38M | 2.36M | 581K |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -311K | -2.5M | 838K | -2.5M | 0 | 0 | 0 | 0 | -63K |
| Operating Income | -18.98M | -19.86M | -30.44M | -30.34M | -28.52M | -14.65M | -8.56M | -5.13M | -2M |
| Operating Margin % | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 34.75% | -0.33% | -6.37% | -94.64% | -71.24% | -66.67% | -156.19% | - |
| EBITDA | -17.15M | -17.36M | -27.78M | -27.84M | -27.42M | -13.87M | -8.47M | -5.04M | -1.91M |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 30.67% | 37.51% | 0.19% | -1.52% | -97.75% | -63.71% | -68.1% | -164.05% | - |
| D&A (Non-Cash Add-back) | 1.83M | 2.5M | 2.65M | 2.5M | 1.1M | 788K | 88K | 96K | 96K |
| EBIT | -14.09M | -19.86M | -29.6M | -30.01M | -28.52M | -14.65M | -8.56M | -5.13M | -2.07M |
| Net Interest Income | 311K | 421K | 230K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 487K | 421K | 230K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14K |
| Other Income/Expense | 0 | 421K | 0 | 330K | 0 | 0 | 0 | 0 | -77K |
| Pretax Income | -18.98M | -19.44M | -30.44M | -30.01M | -28.52M | -14.65M | -8.56M | -5.13M | -2.08M |
| Pretax Margin % | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -18.98M | -19.44M | -30.44M | -30.01M | -28.52M | -14.65M | -8.56M | -5.13M | -2.08M |
| Net Margin % | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | 30.79% | 36.13% | -1.43% | -5.21% | -94.64% | -71.24% | -66.67% | -146.71% | - |
| Net Income (Continuing) | -18.98M | -19.44M | -30.44M | -30.01M | -28.52M | -14.65M | -8.56M | -5.13M | -2.08M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.98 | -4.44 | -0.57 | -1.00 | -1.36 | -0.78 | -0.53 | -0.27 | -0.11 |
| EPS Growth % | -481.89% | -678.95% | 43% | 26.47% | -74.36% | -47.17% | -96.3% | -145.45% | - |
| EPS (Basic) | - | -4.44 | -0.57 | -1.00 | -1.36 | -0.78 | -0.53 | -0.27 | -0.11 |
| Diluted Shares Outstanding | 19.47M | 4.37M | 53.55M | 29.86M | 20.97M | 18.78M | 19.35M | 19.35M | 19.35M |
| Basic Shares Outstanding | 19.47M | 4.37M | 53.55M | 29.86M | 20.97M | 18.78M | 19.35M | 19.35M | 19.35M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Clinical trial liquidity constraints
According to recent financial disclosures, INAB has successfully reduced quarterly R&D spending from a peak of $5.2 million in 2024Q2 to $2.6 million by 2026Q1, reflecting a concerted effort to extend the company's limited cash runway while maintaining core clinical development activities.
The reduction in R&D expenses suggests a strategic pivot toward prioritizing essential clinical milestones over broader exploratory research. Investors should monitor whether this cost discipline compromises the pace of patient enrollment in the INB-200 and INB-100 programs, as the current expenditure levels appear to be the minimum required to sustain operations.
As reported in quarterly filings, INAB continues to operate without revenue, resulting in a persistent operating loss that reached $5.1 million in 2026Q1, highlighting the company's total reliance on external capital to fund its ongoing research and development infrastructure.
The absence of revenue means that operating leverage cannot be assessed through traditional margin expansion metrics. The company's ability to scale is currently tied entirely to clinical success rather than operational efficiency, making the path to profitability dependent on future licensing or commercialization milestones.
Based on historical income statements, INAB's net loss figures are periodically impacted by fluctuating stock-based compensation, which reached $711,000 in 2025Q4 before declining, indicating that non-cash expenses remain a significant component of the company's overall compensation strategy for its clinical and research personnel.
The variability in stock-based compensation warrants further investigation, as it can obscure the true cash burn rate required to support the company's headcount. Analysts should adjust for these non-cash items to better understand the underlying cash requirements necessary to reach the next clinical data readout.
Financial statements indicate that with only $27.1 million in cash and ongoing quarterly losses, INAB faces a precarious liquidity position that may necessitate dilutive financing within the next 6-12 months to support its current clinical trial trajectory and operational overhead.
While the DRI platform offers a compelling technological differentiation, the market may be underestimating the risk of a liquidity crunch if clinical milestones are delayed. The reliance on equity markets for survival suggests that the company remains highly vulnerable to sector-specific funding downturns and broader capital market volatility.
Quick answers to the most common questions about buying INAB stock.
For fiscal year 2025, IN8bio, Inc. (INAB) reported total revenue of $0.0M.
IN8bio, Inc. (INAB) reported a net loss of $19.4M for the fiscal year ending 2025.