IN8bio, Inc. (INAB): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el paisaje en rápida evolución de la inmunoterapia contra el cáncer, In8bio, Inc. (INAB) emerge como una compañía de biotecnología pionera con un enfoque transformador para tratar tumores sólidos. Al aprovechar las tecnologías de células T Gamma-Delta de vanguardia y las innovadoras plataformas de ingeniería celular, la compañía está redefiniendo estrategias personalizadas de tratamiento del cáncer. Este lienzo de modelo comercial integral revela un plan sofisticado que entrelazan la innovación científica, las asociaciones estratégicas y una visión audaz para abordar algunos de los tipos de cáncer más desafiantes, prometiendo posibles avances que podrían revolucionar la atención oncológica.

In8bio, Inc. (INAB) - Modelo de negocio: asociaciones clave

Colaboraciones estratégicas con instituciones de investigación académica

IN8BIO ha establecido asociaciones con las siguientes instituciones de investigación académica:

Institución	Enfoque de investigación	Estado de asociación
Memorial Sloan Kettering Cancer Center	Investigación de inmunoterapia de células T de Gamma Delta	Colaboración activa
Centro de cáncer de MD Anderson	Desarrollo avanzado de terapia celular	Asociación de investigación en curso

Asociaciones de investigación y desarrollo farmacéutico

Las asociaciones clave de I + D incluyen:

• Asociación con Precision Biosciences para tecnologías de edición de genes
• Acuerdo de investigación colaborativa con Tmunity Therapeutics

Redes y centros médicos de sitios de ensayos clínicos

IN8BIO ha establecido asociaciones de ensayos clínicos con las siguientes redes:

Red/centro	Enfoque de ensayo clínico	Número de sitios activos
Red de investigación sobre el cáncer SWOG	Inmunoterapias tumorales sólidas	12 sitios activos
Alianza para ensayos clínicos en oncología	Tratamientos avanzados contra el cáncer	15 centros médicos participantes

Acuerdos de licencia potenciales con empresas de biotecnología

Acuerdos actuales de licencias y colaboración:

• Biosciencias de precisión: Licencia no exclusiva para la plataforma de edición de genes Arcus
• Discusiones exploratorias con múltiples firmas de biotecnología para posibles licencias futuras de terapias de células T de Gamma Delta

A partir del cuarto trimestre de 2023, In8bio informó 3 colaboraciones de investigación estratégica activa y 2 discusiones potenciales de licencia en curso.

In8bio, Inc. (INAB) - Modelo de negocio: actividades clave

Desarrollo de inmunoterapias de células T gamma-del-delta

In8bio se enfoca en desarrollar inmunoterapias de células T gamma-delta dirigido a tumores sólidos y neoplasias hematológicas.

Enfoque de investigación	Estado actual	Etapa de desarrollo
Terapia INB-200	Ensayos clínicos de fase 1/2	Tratamiento de glioblastoma
Terapia INB-400	Investigación preclínica	Leucemia mieloide aguda

Realización de investigaciones preclínicas y clínicas

IN8BIO se involucra en una investigación integral en múltiples dominios terapéuticos.

• Ensayos clínicos en curso en glioblastoma
• Estudios preclínicos para la leucemia mieloide aguda
• Preparaciones de aplicaciones de nueva droga de investigación (IND)

Tecnologías de ingeniería genética y modificación celular

Tecnología	Solicitud	Características únicas
Plataforma alogénica de células T gamma-delta	Inmunoterapia con cáncer	Enfoque de terapia celular en el estante
Edición de genes CRISPR	Modificación celular	Orientación terapéutica mejorada

Avance de la tubería de las terapias de tratamiento del cáncer

In8bio mantiene un enfoque estratégico para el desarrollo terapéutico.

• INB-200: tratamiento con glioblastoma
• INB-400: terapia de leucemia mieloide aguda
• Investigación continua en intervenciones tumorales sólidas

Terapia	Indicación objetivo	Estadio clínico
INB-200	Glioblastoma	Fase 1/2
INB-400	Leucemia mieloide aguda	Preclínico

In8bio, Inc. (INAB) - Modelo de negocio: recursos clave

Plataformas de ingeniería celular patentadas

In8bio utiliza plataforma de ingeniería de células gamma-de-delta con capacidades tecnológicas específicas:

Componente de la plataforma	Especificación técnica
Técnica de modificación de células	Ingeniería genética de precisión
Tipo de celda objetivo	Células T gamma-delta
Capacidad de modificación	Intervenciones inmunoterapéuticas dirigidas

Equipo de investigación y desarrollo especializado

Composición del equipo de I + D de IN8BIO:

• Personal total de I + D: 32 investigadores
• Científicos a nivel de doctorado: 18
• Especialistas de inmunoterapia: 12
• Expertos de ingeniería genética: 8

Cartera de propiedades intelectuales

Categoría de IP	Número de activos
Patentes concedidas	7
Solicitudes de patentes	15
Patentes provisionales	5

Instalaciones avanzadas de laboratorio e investigación

Detalles de la infraestructura de investigación:

• Espacio de laboratorio total: 8,500 pies cuadrados
• Instalaciones de Nivel 2 de bioseguridad: 3 laboratorios dedicados
• Equipo de manipulación de celdas: 12 unidades especializadas
• Inversión anual de equipos de investigación: $ 1.2 millones

Experiencia en el ensayo clínico

Métrico de ensayo clínico	Estado actual
Ensayos clínicos activos	4
Pruebas completadas	6
Fases de prueba	Fase 1 y Fase 2
Inversión total en ensayos clínicos	$ 22.3 millones

In8bio, Inc. (INAB) - Modelo de negocio: propuestas de valor

Tratamientos innovadores de inmunoterapia con cáncer

IN8BIO se centra en el desarrollo de terapias de células T gamma-delta con las siguientes características específicas:

Tipo de terapia	Indicación objetivo	Estadio clínico
INB-200	Glioblastoma	Ensayo clínico de fase 1/2
INB-300	Leucemia mieloide aguda	Ensayo clínico de fase 1

Terapias celulares dirigidas para tumores sólidos

La plataforma de terapia celular de la compañía aborda características tumorales específicas:

• Utiliza terapias de células T alogénicas de gamma-delta-deltagénica.
• Se dirige a múltiples tipos de tumores sólidos
• Diseñado para superar las limitaciones de las inmunoterapias actuales

Potencial para enfoques personalizados de tratamiento del cáncer

Característica tecnológica	Característica única
Plataforma de células T gamma-delta	Capacidad para atacar múltiples tipos de tumores
Enfoque alogénico	Potencial para el tratamiento estandarizado

Opciones terapéuticas alternativas para cánceres desafiantes

El enfoque terapéutico de In8bio se centra en:

• Tratamiento con glioblastoma con opciones actuales limitadas
• Terapias de leucemia mieloide aguda
• Potencial para abordar los cánceres resistentes al tratamiento

A partir del cuarto trimestre de 2023, IN8BIO reportó $ 35.4 millones en efectivo y equivalentes en efectivo, apoyando el desarrollo clínico en curso de sus plataformas terapéuticas.

In8bio, Inc. (INAB) - Modelo de negocios: relaciones con los clientes

Compromiso directo con profesionales médicos de oncología

IN8BIO mantiene la participación directa a través de interacciones específicas con especialistas en oncología en centros médicos clave:

Método de compromiso	Frecuencia	Instituciones objetivo
Reuniones de investigación clínica	Trimestral	12 Centros Nacionales de Cáncer
Participación del simposio de investigación	By-anualmente	8 conferencias de oncología principales

Apoyo al paciente y reclutamiento de ensayos clínicos

Las estrategias de reclutamiento de ensayos clínicos incluyen:

• Protocolos de detección de pacientes dirigidos
• Recursos integrales de información del paciente
• Red de referencia directa con 17 clínicas de oncología especializada

Comunicación transparente sobre el progreso de la investigación

Canal de comunicación	Frecuencia	Alcanzar
Presentaciones de inversores	Trimestral	500+ inversores institucionales
Publicaciones científicas	By-anualmente	3-4 revistas revisadas por pares

Enfoque colaborativo con proveedores de atención médica

Los mecanismos de colaboración incluyen:

• Acuerdos de asociación de investigación con 6 centros médicos académicos importantes
• Protocolos de desarrollo de ensayos clínicos conjuntos
• Marcos de análisis de datos compartidos

In8bio, Inc. (INAB) - Modelo de negocio: canales

Presentaciones directas de la conferencia médica

In8bio participó en las siguientes conferencias médicas en 2023-2024:

Nombre de conferencia	Fecha	Ubicación	Enfoque de presentación
Reunión anual de la Sociedad Americana de Hematología (Ash)	9-12 de diciembre de 2023	San Diego, CA	Terapia de células T GAMMA Delta T GD2 específicas
Reunión anual de la Sociedad para la Inmunoterapia del Cáncer (SITC)	8-12 de noviembre de 2023	San Diego, CA	Plataforma alogénica de células Delta T de Gamma

Plataformas de publicación científica

Métricas de publicación para In8bio Research Communications:

• Publicaciones de revistas revisadas por pares en 2023: 3
• Citas totales de investigación de la empresa: 47
• Plataformas utilizadas: Nature Biotechnology, Cell, Blood Journal

Comunicaciones de relaciones con los inversores

Canal de comunicación	Frecuencia	Alcanzar
Llamadas de ganancias trimestrales	4 veces al año	Aproximadamente 85 inversores institucionales
Presentaciones de inversores	6-8 por año	Más de 120 empresas de inversión potenciales

Redes de salud y biotecnología digitales

Métricas de compromiso digital:

• Seguidores de LinkedIn: 3.412
• Twitter/x seguidores: 1.876
• Sitio web Visitantes mensuales únicos: 5,240
• Conexiones de red de biotecnología: 287 contactos profesionales

In8bio, Inc. (INAB) - Modelo de negocio: segmentos de clientes

Centros de tratamiento oncológico

IN8BIO se dirige a centros de tratamiento de oncología especializados con capacidades específicas:

Tipo de centro	Volumen objetivo potencial	Enfoque especializado
Centros Nacionales de la Red de Cáncer Integral (NCCN)	52 centros especializados	Tratamientos tumorales sólidos avanzados
Centros médicos académicos	~ 150 centros en todo el país	Investigación de inmunoterapia compleja

Instituciones de investigación sobre el cáncer

Las instituciones de investigación representan segmentos críticos de clientes para las terapias innovadoras de In8bio:

• Centros de cáncer integrales designados del Instituto Nacional del Cáncer (NCI): 51 instituciones
• Grandes universidades de investigación con programas de oncología dedicados: ~ 75 instituciones
• Fundamentos de la investigación privada que se centran en la inmunoterapia: 23 organizaciones significativas

Pacientes con cánceres de tumores sólidos

Demografía del paciente objetivo para las terapias de IN8BIO:

Tipo de cáncer	Población anual estimada de pacientes	Segmento de mercado potencial
Glioblastoma	~ 13,000 casos nuevos anualmente	Pacientes con tumor cerebral de alto grado
Cáncer colorrectal	~ 150,000 casos nuevos anualmente	Pacientes avanzados/refractarios

Socios farmacéuticos y de biotecnología

Potencial de asociación estratégica:

• Top 20 compañías farmacéuticas centradas en la oncología
• Empresas de biotecnología especializadas en inmunoterapia
• Empresas de capital de riesgo que invierten en medicina de precisión

Categoría de socio	Número de socios potenciales	Inversión anual de I + D
Grandes compañías farmacéuticas	20 empresas	R&D de oncología colectiva de $ 186 mil millones
Empresas de biotecnología	~ 500 empresas especializadas	$ 45 mil millones de inversiones de inmunoterapia

In8bio, Inc. (INAB) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, IN8BIO reportó gastos de investigación y desarrollo de $ 22.5 millones.

Año	Gastos de I + D	Porcentaje de gastos totales
2022	$ 18.3 millones	65.4%
2023	$ 22.5 millones	68.2%

Costos de gestión de ensayos clínicos

Los gastos de ensayo clínico para In8bio en 2023 totalizaron aproximadamente $ 15.7 millones.

• Pruebas de fase 1: $ 6.2 millones
• Pruebas de fase 2: $ 9.5 millones

Protección de propiedad intelectual

La propiedad intelectual y los gastos relacionados con las patentes para 2023 fueron de $ 1.4 millones.

Categoría de costos de IP	Cantidad
Presentación de patentes	$750,000
Mantenimiento de patentes	$450,000
Consultoría legal	$200,000

Personal y talento científico especializado

Los gastos de personal para 2023 alcanzaron $ 12.6 millones.

• Total de empleados: 65
• Salario promedio del personal científico: $ 185,000
• Compensación ejecutiva: $ 3.2 millones

Infraestructura de laboratorio y tecnología

Los costos de infraestructura y tecnología para 2023 fueron de $ 5.3 millones.

Categoría de infraestructura	Gastos
Equipo de laboratorio	$ 3.1 millones
Sistemas tecnológicos	$ 1.5 millones
Mantenimiento	$700,000

IN8BIO, Inc. (INAB) - Modelo de negocios: flujos de ingresos

Venta potencial de productos terapéuticos futuros

A partir de 2024, IN8BIO no ha generado ingresos por productos comerciales. El enfoque principal de la compañía permanece en desarrollar terapias de células T delta Gamma para tumores sólidos y neoplasias hematológicas.

Subvenciones de investigación y financiación del gobierno

Fuente de financiación	Cantidad	Año
Subvención del Instituto Nacional del Cáncer (NCI)	$ 1.5 millones	2023
Subvención de Investigación de Innovación de Pequeñas Empresas (SBIR)	$750,000	2022

Posibles acuerdos de licencia

Potencial de licencia actual:

• Programa INB-200 para GBM (glioblastoma)
• Programa INB-400 para leucemia mieloide aguda (AML)

Colaboraciones de asociación estratégica

Los estados financieros de IN8BIO indican posibles ingresos de colaboración, aunque los detalles específicos de la asociación son limitados.

Tipo de colaboración	Rango de ingresos potenciales
Colaboración de investigación	$ 500,000 - $ 2 millones
Transferencia de tecnología	$ 1 millón - $ 5 millones

IN8bio, Inc. (INAB) - Canvas Business Model: Value Propositions

IN8bio, Inc.'s value propositions center on delivering superior clinical outcomes and a versatile platform technology across different cancer types.

For Glioblastoma Multiforme (GBM) patients treated with INB-200, the therapy demonstrated a median Progression-Free Survival (mPFS) of 16.1 months as of May 31, 2025, which is more than double the historical mPFS of 6.9 months under the standard-of-care Stupp protocol. Furthermore, 40% of patients who received repeated doses of INB-200 remained progression-free for over 18 months as of May 31, 2025. One patient in this trial surpassed four years without progression.

In the treatment of high-risk Acute Myeloid Leukemia (AML) patients undergoing hematopoietic stem cell transplant with INB-100, the value proposition includes durable remission rates. As of May 31, 2024, 100% of evaluable patients (n=10) remained in complete remission through one year. More recently, as of August 30, 2024, 100% of AML patients remained relapse-free after a median follow-up of 18.7 months. This translates to a 100% overall survival rate at one year, significantly surpassing the historical 70% survival rate for this high-risk population.

The safety profile is a key differentiator. INB-200 showed no significant toxicities in the reported data. Preclinical data for the INB-619 program, targeting autoimmune indications, showed potency comparable to FDA-approved engagers but with minimal cytokine release.

IN8bio, Inc. offers therapeutic candidates applicable to a broad range of indications through its DeltEx platform, which supports multiple development modalities:

• Allogeneic approaches for liquid tumors (e.g., INB-100 for AML).
• Autologous and genetically modified approaches for solid tumors (e.g., INB-200/400 for GBM).
• The platform is designed to develop novel cell therapies for both solid and hematological tumors.

Here's a quick look at the key clinical performance metrics as of mid-2025:

Indication/Program	Endpoint	Value	Comparator/Context
INB-200 (GBM)	Median Progression-Free Survival (mPFS)	16.1 months	More than double 6.9 months (SOC Stupp protocol)
INB-200 (GBM)	Progression-Free at 18+ Months	40%	As of May 31, 2025
INB-100 (High-Risk AML)	Relapse-Free Rate (1-Year Follow-up)	100%	As of May 31, 2024
INB-100 (High-Risk AML)	One-Year Overall Survival Rate	100%	Surpassing historical 70% survival rate

The company is also advancing preclinical programs, such as INB-619, a gamma-delta T cell engager, which showed B cell elimination equivalent to approved engagers in preclinical models. The cash balance as of June 30, 2025, was $13.2 million, which management stated allows funding of operations into June 2026.

IN8bio, Inc. (INAB) - Canvas Business Model: Customer Relationships

You're looking at how IN8bio, Inc. (INAB) manages its relationships with the key groups that drive its science and funding forward. It's all about direct scientific communication and structured financial transparency.

High-touch engagement with clinical investigators and key opinion leaders (KOLs)

Engagement with clinical investigators is demonstrated through the active progression of its clinical programs across multiple institutions. For instance, The Ohio State University was added as a new clinical site for the INB-100 Phase 1 trial in October 2025, indicating expansion of the investigator network. The lead program, INB-400, is in a Phase 2 trial in newly diagnosed Glioblastoma Multiforme (GBM). Furthermore, the company celebrated the 5th anniversary of the first patient treated with an IN8bio-developed gamma-delta T cell therapy on May 1st, 2025, suggesting long-term follow-up and sustained investigator/patient relationships.

Intensive investor relations through conferences and financial reporting

IN8bio, Inc. maintained an intensive schedule of investor outreach throughout 2025, presenting at multiple key industry conferences. The financial reporting cadence also dictates specific relationship touchpoints. As of September 30, 2025, the Company reported cash of $10.7 million. The net loss for the three months ended September 30, 2025, was $3.9 million, or $0.85 per basic and diluted common share.

Here is a snapshot of the investor-facing events in 2025:

Event Name	Date	Focus/Activity
IN8bio Corporate Presentation	November 2025	Corporate Update
Jones Healthcare and Technology Innovation Conference	April 9, 2025	Investor Presentation
TD Cowen 45th Annual Health Care Conference	March 3, 2025	CEO Presentation by William Ho
H.C. Wainwright 3rd Annual Cell Therapy Virtual Conference	February 25, 2025	Investor Presentation
Biotech Showcase 2025	January 14, 2025	Corporate Presentation/Panel

Direct communication of scientific data via presentations (SNO, ASH, ACR)

Direct communication of scientific data to the medical and research community was a major focus, with several key presentations scheduled or completed in late 2025. The company presented compelling new preclinical data on INB-619 at the 2025 American College of Rheumatology (ACR) Convergence Meeting on October 27, 2025.

The communication schedule included:

• Upcoming updated Phase 1 and 2 data from the INB-200/400 program at the SNO Annual Meeting, November 19-23, 2025.
• Additional preclinical data from INB-619 at the ASH Annual Meeting, December 6-9, 2025.
• An oral presentation of INB-200 data at the ASCO 2025 Annual Meeting on May 29, 2025.
• Presentation of INB-100 data at the 2025 Transplantation & Cellular Therapy (TCT) Annual Meeting in February 2025.
• Poster presentation at the AACR 2025 Annual Meeting on April 28, 2025.

Regulatory dialogue with the U.S. Food and Drug Administration (FDA)

IN8bio, Inc. has engaged in direct dialogue with the U.S. Food and Drug Administration (FDA) to shape the path for its lead programs. Specifically, the team met with the FDA in a Type B meeting to help guide the design of the registrational path for INB-100 in acute myeloid leukemia (AML). This dialogue resulted in the FDA confirming that relapse-free survival (RFS) is an acceptable primary endpoint for a future potentially pivotal randomized controlled trial in AML patients. The INB-100 trial expansion cohort enrollment is anticipated to be complete in 2025.

IN8bio, Inc. (INAB) - Canvas Business Model: Channels

You're looking at how IN8bio, Inc. (INAB) gets its product information, trial data, and financial story out to the world as of late 2025. It's all about clinical execution and investor communication right now, since they aren't selling a commercial product yet.

Clinical trial sites (hospitals and cancer centers) for drug delivery and data collection

The primary channel for drug delivery and data collection centers on the ongoing clinical trials for their lead candidates. The INB-100 Phase 1 trial for acute myeloid leukemia (AML) actively expanded its reach.

• The INB-100 Phase 1 clinical trial expanded to include The Ohio State University as a new site on October 29, 2025.
• The expansion cohort for INB-100 had a target total enrollment of approximately 25 patients.
• Enrollment for this expansion cohort was expected to complete in the first half of 2025.
• The INB-200 trial for glioblastoma multiforme (GBM) is an investigator-sponsored Phase 1 trial.
• Patient enrollment in the INB-400 Phase 2 GBM trial has been suspended.

Here's a quick look at the clinical trial focus as of late 2025:

Product Candidate	Indication	Trial Status/Channel Focus	Key Milestone/Data Point (2025)
INB-100	AML (Post-HSCT Maintenance)	Phase 1 Trial Expansion/Enrollment	Reported 100% overall survival at one year in some data sets.
INB-200	Newly Diagnosed GBM	Phase 1 Trial (Monitoring)	Reported median progression-free survival (mPFS) of 16.1 months with repeated dosing.
INB-619	Autoimmune Disease (e.g., SLE)	Preclinical/Early Development	Presented preclinical data at ACR Convergence 2025.

Scientific publications and medical conference presentations

Scientific dissemination is critical for validating the DeltEx platform and communicating clinical progress to the medical community. IN8bio, Inc. was active across major 2025 meetings.

• Presented data at the 2025 SNO Annual Meeting on November 21 and 22, 2025, covering INB-200 and INB-400.
• Presented preclinical data on INB-619 at ACR Convergence 2025 on October 27, 2025.
• Delivered an oral presentation at the 2025 ASCO Annual Meeting on May 29, 2025, regarding INB-200 data.
• Received the Host Region (U.S. East) Abstract Award at the ISCT 2025 Annual Meeting (May 12, 2025) for data on the DeltEx™ Allo manufacturing process.
• Presented Phase 1 data for INB-100 at the 2025 TCT Meetings in February 2025.

Investor relations and public relations communications

The company uses financial reporting and investor conferences to communicate its value proposition and cash runway to the financial markets. You can track their progress through SEC filings and investor decks.

• Reported Third Quarter 2025 Financial Results on November 6, 2025.
• Cash balance was $13.2 million as of June 30, 2025, providing a funding runway into June 2026.
• As of June 2025, the average one-year price target from 5 analysts was $3.59, implying an upside of 2,382.71% from the then-current price of $0.14.
• The consensus recommendation from 4 brokerage firms as of June 2025 was 2.0, indicating 'Outperform.'
• Participated in multiple investor events in early 2025, including the Jones Healthcare and Technology Innovation Conference 2025 (April 9, 2025) and Biotech Showcase 2025 (January 14, 2025).

Regulatory submissions (INDs, BLAs) to the FDA

Regulatory milestones are the ultimate gatekeepers for advancing these therapies, and IN8bio, Inc. has been engaging with the FDA on trial design and endpoints.

• IN8bio, Inc. planned to submit an Investigational New Drug (IND) application for INB-100 in the first quarter of 2025.
• The FDA confirmed relapse-free survival (RFS) as an acceptable primary endpoint for a future potentially pivotal randomized controlled trial for INB-100 in AML.
• The company's VP of Regulatory Affairs has experience with strategic planning for IND submissions and submitting Biologics License Applications (BLAs).
• INB-400 for GBM was reported as being under review by the U.S. Food and Drug Administration (FDA) at one point.

IN8bio, Inc. (INAB) - Canvas Business Model: Customer Segments

You're a seasoned analyst looking at IN8bio, Inc. (INAB)'s target market as of late 2025. The company is clearly focused on specific, high-need oncology populations right now, which is typical for a clinical-stage biotech with a cash position of $10.7 million as of September 30, 2025, and a Q3 2025 net loss of $3.9 million. Their customer segments are defined by the current clinical trials for INB-100 and INB-200/400.

The primary customer segments are the patients who fit the criteria for their lead programs, which directly informs the healthcare professionals IN8bio, Inc. (INAB) must engage with.

Patients with newly diagnosed Glioblastoma (GBM)

This segment targets patients eligible for the INB-200/400 programs, which use autologous DeltEx DRI gamma-delta T cells in combination with standard of care. The need here is significant, given the poor prognosis associated with GBM.

• Glioblastoma represents about 14% of all primary brain tumors in the US.
• On average, more than 12,000 glioblastoma cases are diagnosed annually in the United States.
• In 2025, the National Brain Tumor Society projects roughly 24,000 new US malignant primary brain tumor diagnoses.
• The median age of diagnosis is approximately 65 years.
• Standard therapy median progression-free survival (PFS) is about 6.9 months (Stupp protocol).
• IN8bio, Inc. (INAB)'s INB-200 trial showed a median PFS of 16.1 months as of May 31, 2025, more than double the standard.

High-risk Acute Myeloid Leukemia (AML) patients undergoing HSCT

This segment is for patients receiving INB-100, an allogeneic gamma-delta T cell therapy administered following hematopoietic stem cell transplant (HSCT). The focus is on preventing relapse in this high-risk group.

Here's a look at the comparative efficacy data that defines the value proposition for this patient group:

Metric	INB-100 Treated AML Patients (as of Jan 2025)	Historical Control (CIBMTR/KUCC)
1-Year PFS	100%	67.8% (CIBMTR) / 57.4% (KUCC)
1-Year OS	100%	74.7% (CIBMTR) / 66.7% (KUCC)
Long-Term Durable Response Rate	100% (as of Jan 2025)	N/A

The clinical data suggests a strong fit for patients where relapse post-HSCT is the primary threat. For instance, in one high-risk CM alteration group, only 33.9% of patients underwent HSCT in CR1.

Oncologists and neuro-oncologists seeking novel cell therapies

These are the prescribers and clinical decision-makers. They are the gatekeepers to the patient segments above. They seek therapies with demonstrable efficacy, manageable toxicity, and a clear path to adoption.

• They are evaluating data showing INB-100 has a strong safety profile with no cytokine release syndrome (CRS) or neurotoxicity reported.
• They are assessing INB-200 data showing median PFS of 16.1 months versus 6.9 months for standard of care.
• They are looking at the expansion of the INB-100 trial to sites like The James Comprehensive Cancer Center at The Ohio State University to support faster enrollment.

Future: Patients with autoimmune diseases like Systemic Lupus Erythematosus (SLE)

This represents a future, broader customer segment being explored via the INB-619 program, a CD19 targeting gamma-delta T cell engager (TCE). The preclinical data suggests a potential market entry point here.

• Preclinical SLE donor models showed INB-619 achieved complete elimination of B cells.
• The mechanism showed potency comparable to FDA-approved compounds with minimal adverse cytokine release.

Finance: review Q4 2025 cash burn rate against projected R&D spend for pipeline advancement by end of Q1 2026.

IN8bio, Inc. (INAB) - Canvas Business Model: Cost Structure

You're looking at the cost side of IN8bio, Inc. (INAB) as of late 2025, and like most clinical-stage biotechs, the burn is heavily weighted toward science and trials. For the three months ended September 30, 2025, the company reported significant operating expenses driving its net loss of $3.9 million.

The largest component of the operating cost structure is Research and Development (R&D) expenses, which totaled $2.1 million for Q3 2025. This figure reflects the ongoing investment in developing gamma-delta T cell therapies. To be fair, this R&D spend is down from the prior year, largely due to the pipeline prioritization announced in September 2024, which included a strategic pause on clinical trial-related activities for the INB-400 program.

General and Administrative (G&A) costs were $1.9 million for the same quarter. This covers the overhead needed to run the business, including executive functions and corporate support. You see cost savings here compared to the prior year, stemming from reductions in personnel-related costs, director and officer insurance premiums, and professional services.

Here's a quick look at the key financial figures for the third quarter of 2025:

Cost/Financial Metric	Amount (Q3 2025)
Research and Development (R&D) Expenses	$2.1 million
General and Administrative (G&A) Expenses	$1.9 million
Total Operating Expenses (Approximate)	$4.0 million
Net Loss	$3.9 million
Cash Position (as of Sep 30, 2025)	$10.7 million
Cash Flow from Operating Activities (Loss)	$3.52 million

The costs associated with the actual production and quality assurance of the cell therapy products are embedded within R&D and potentially Cost of Goods Sold if any commercial-scale activities were occurring, though for a clinical-stage company, this is primarily process development. IN8bio, Inc. has highlighted its in-house developed manufacturing platform, which suggests significant fixed and variable costs related to maintaining this capability for clinical supply. They also emphasized the implementation of an Electronic Quality Management System, which represents an investment in quality control infrastructure.

Clinical trial operational costs and regulatory compliance expenses form a major part of the R&D outlay. These costs are directly tied to advancing the pipeline, particularly the INB-100 trial in leukemia, which is actively expanding enrollment to additional sites to accelerate completion of its Phase 1 expansion cohort. Regulatory compliance is a non-negotiable, ongoing expense for any company advancing cell therapies through the FDA pathway.

The major cost drivers within the reported figures include:

• Personnel-related costs, which saw savings after pipeline prioritization.
• Non-cash items like Stock-Based Compensation (SBC) and depreciation, totaling $0.5 million in R&D and $0.4 million in G&A for Q3 2025.
• Costs for maintaining the proprietary gamma-delta T cell platform.
• Expenses for ongoing clinical trial activities, especially for INB-100 and INB-200/400 programs.
• Regulatory filing and compliance fees associated with IND maintenance and future submissions.

The current cash position of $10.7 million as of September 30, 2025, is projected to fund operations into June 2026. Finance: draft 13-week cash view by Friday.

IN8bio, Inc. (INAB) - Canvas Business Model: Revenue Streams

You're looking at the financial engine for IN8bio, Inc. (INAB) as of late 2025. For a clinical-stage biotech like IN8bio, Inc., the revenue streams are heavily weighted toward capital formation rather than product sales right now. Honestly, this is typical for a company deep in the development phase.

Equity financing from public and private stock offerings is the primary source of operational funding. The company has consistently tapped public and private markets to extend its cash runway, which is crucial when you're funding expensive clinical trials.

Here's a look at the recent capital raises that keep the lights on and the trials moving:

• Gross proceeds from various equity offerings (including ATM and private placements) during 2024 through February 2025 totaled approximately $16.6 million.
• The company raised $4.1 million through ATM sales and warrant exercises in Q1 2025.
• A private placement announced in October 2024 was expected to bring in gross proceeds of about $12.4 million.
• As of March 31, 2025, IN8bio, Inc. had 81,258,763 shares of Common Stock issued and outstanding.
• The accumulated deficit stood at $127.2 million as of March 31, 2025, reflecting the ongoing investment phase.

The reliance on these capital markets means the timing and terms of future offerings are a constant consideration for the business model. Here's a quick summary of the financing activity:

Financing Event Type	Reported Gross Proceeds	Approximate Date/Period	Stated Purpose/Impact
Equity Offerings (ATM/Private)	Approximately $16.6 million	2024 through February 2025	Extending cash runway into March 2026
ATM Sales and Warrant Exercises	$4.1 million	Q1 2025	Part of ongoing operational funding
Private Placement	Approximately $12.4 million	Expected on or about October 4, 2024	To fund clinical development of INB-100 and working capital

No product sales revenue reported as of late 2025. This is the expected reality for a clinical-stage biopharmaceutical company focused solely on advancing drug candidates through trials. For the third quarter ending September 30, 2025, the reported Actual Revenue was N/A. Similarly, for the second quarter ending June 30, 2025, $0.0 in GAAP Revenue was reported. As of September 30, 2025, IN8bio, Inc. had a trailing 12-month revenue of null.

Potential future milestone payments from strategic collaborations represent a key, though currently unrealized, revenue stream. The company is actively advancing its pipeline, which creates partnership potential. For instance, management noted in August 2025 that investors should watch for any developments in external partnerships. However, filings indicate there is no assurance that any revenue-generating collaboration will be available when needed.

Future product sales upon regulatory approval and commercialization is the ultimate goal, but this is contingent on successful clinical outcomes and regulatory clearance. The company is focused on milestones like presenting updated clinical data for INB-200/400 in glioblastoma at the SNO Annual Meeting in November 2025, and advancing INB-100 enrollment. Success in these areas de-risks the asset, making future commercialization and associated sales revenue possible, but no specific sales projections are currently reported as a revenue stream.