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.
In section Market Quotes
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.
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.
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