NEW YORK - IN8bio, Inc. (NASDAQ:INAB), a clinical-stage biopharmaceutical company valued at $22.83 million, has announced new data from its ongoing Phase 1 trial that reveals promising outcomes for patients with acute myeloid leukemia (AML). According to InvestingPro data, while the company's stock has declined over 74% in the past six months, three analysts have recently revised their earnings expectations upward, suggesting potential optimism about these developments. The trial focuses on INB-100, an allogeneic gamma-delta T cell therapy for older patients with hematologic malignancies who have undergone a stem cell transplant with reduced intensity conditioning.
The data, presented at the 2024 American Society of Hematology (ASH) Annual Meeting in San Diego, highlights the potential of INB-100 to provide durable, relapse-free remissions in high-risk AML patients. Dr. Joseph P. McGuirk, a leading expert in the field, underscored the significance of these findings, especially considering the typical risk of relapse associated with reduced intensity conditioning regimens.
As of September 30, 2024, all patients in the trial remained alive and in complete remission (CR) after a median follow-up of 19.7 months, with some maintaining CR for over three years without maintenance therapy. This enduring response is notable given that historically, a significant percentage of AML patients relapse within the first year post-transplant.
The study also reports the persistent in vivo expansion of gamma-delta T cells for up to 365 days following treatment, suggesting ongoing surveillance against leukemic relapse. The safety profile of INB-100 was well-tolerated, with no cases of cytokine release syndrome or neurotoxicity, and only mild infections observed.
Based on these encouraging results, the trial has expanded to include more patients at the recommended Phase 2 dose level. Updated data from this expanded cohort is anticipated in the first half of 2025. Analyst price targets currently range from $1.50 to $8.00, reflecting varied expectations about the company's potential. Want deeper insights? InvestingPro subscribers have access to over 30 additional financial metrics and analysis tools to evaluate biotech investments.
IN8bio's research into gamma-delta T cell therapies, including INB-100, aims to leverage the unique properties of these cells to distinguish between healthy and diseased tissue, potentially offering a significant advantage in cancer treatment.
The company cautions that forward-looking statements involve risks and uncertainties, and there is no assurance that future results will meet expectations. These statements are based on current plans, estimates, and projections, and readers should not place undue reliance on them. InvestingPro analysis indicates the company's overall financial health score is currently weak at 1.48, with significant cash burn rates that investors should consider when evaluating the investment opportunity.
This article is based on a press release statement from IN8bio, Inc.
In other recent news, IN8bio Inc. reported encouraging results from its Phase 1 INB-200 study, with 50% of patients receiving multiple doses remaining alive and in remission, exceeding the standard median survival. H.C. Wainwright and Mizuho (NYSE:MFG) Securities adjusted their price targets for IN8bio, following the company's recent financial results, which included no revenue and a net loss. The company has also decided to prioritize its INB-100 program for Acute Myeloid Leukemia (AML) and suspend its Glioblastoma programs, following a successful private placement that raised $12.4 million.
In addition, IN8bio has reported the departure of its Chief Medical (TASE:PMCN) Officer, Trishna Goswami, and a reduction in its workforce by approximately 49%. Encouraging results from its INB-100 program were also reported, with a 100% progression-free survival rate among patients. Laidlaw & Company and Jones Trading have maintained their Buy ratings on IN8bio, following these positive results.
These are recent developments for IN8bio, which also include the lowering of its price target by Mizuho Securities to $2.00, while still maintaining an Outperform rating on the stock. The firm believes that the potential of INB-100 is not fully recognized by the market and anticipates growing interest as IN8bio presents more extended follow-up data. Despite the strategic shift and financial performance, both Mizuho Securities and H.C. Wainwright continue to see potential in IN8bio.
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