IN8BIO, Inc. (INAB): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Dans le paysage en évolution rapide de l'immunothérapie contre le cancer, IN8BIO, Inc. (INAB) émerge comme une entreprise de biotechnologie pionnière avec une approche transformatrice du traitement des tumeurs solides. En tirant parti des technologies de cellules T gamma-delta de pointe et des plates-formes innovantes d'ingénierie cellulaire, la société redéfinit des stratégies de traitement du cancer personnalisées. Cette toile complète du modèle commercial révèle un plan sophistiqué qui entrelace l'innovation scientifique, des partenariats stratégiques et une vision audacieuse pour lutter contre certains des types de cancer les plus difficiles, promettant des percées potentielles qui pourraient révolutionner les soins oncologiques.

IN8BIO, Inc. (INAB) - Modèle commercial: partenariats clés

Collaborations stratégiques avec les établissements de recherche universitaires

IN8BIO a établi des partenariats avec les établissements de recherche académiques suivants:

Institution	Focus de recherche	Statut de partenariat
Memorial Sloan Kettering Cancer Center	Recherche d'immunothérapie des cellules T Gamma Delta	Collaboration active
MD Anderson Cancer Center	Développement de thérapie cellulaire avancée	Partenariat de recherche en cours

Partenariats de recherche et développement pharmaceutique

Les principaux partenariats pharmaceutiques R&D comprennent:

• Partenariat avec Precision Biosciences pour les technologies d'édition de gènes
• Contrat de recherche collaboratif avec TMUNITY Therapeutics

Réseaux de sites d'essai cliniques et centres médicaux

IN8BIO a établi des partenariats d'essais cliniques avec les réseaux suivants:

Réseau / centre	Focus des essais cliniques	Nombre de sites actifs
Swog Cancer Research Network	Immunothérapies tumorales solides	12 sites actifs
Alliance pour les essais cliniques en oncologie	Traitements de cancer avancé	15 centres médicaux participants

Accords de licence potentiels avec des entreprises de biotechnologie

Accords actuels de licence et de collaboration:

• Biosciences de précision: Licence non exclusive pour la plate-forme d'édition de gènes Arcus
• Discussions exploratoires avec plusieurs sociétés de biotechnologie pour une future licence potentielle des thérapies Gamma Delta T-Cell

Au quatrième trimestre 2023, IN8BIO a rapporté 3 collaborations de recherche stratégique active et 2 discussions de licence potentielles en cours.

IN8BIO, Inc. (Inab) - Modèle d'entreprise: activités clés

Développement d'immunothérapies de cellules T gamma-delta

IN8BIO se concentre sur le développement immunothérapies aux cellules T gamma-delta ciblant les tumeurs solides et les tumeurs malignes hématologiques.

Focus de recherche	État actuel	Étape de développement
Thérapie INB-200	Essais cliniques de phase 1/2	Traitement du glioblastome
Thérapie INB-400	Recherche préclinique	Leucémie myéloïde aiguë

Effectuer des recherches précliniques et cliniques

IN8BIO s'engage dans des recherches complètes dans plusieurs domaines thérapeutiques.

• Essais cliniques en cours en glioblastome
• Études précliniques pour la leucémie myéloïde aiguë
• Préparation des applications de nouveau médicament (IND) Investigational

Technologies d'ingénierie des gènes et de modification des cellules

Technologie	Application	Caractéristiques uniques
Plate-forme allogénique des cellules T gamma-delta	Immunothérapie contre le cancer	Approche de thérapie cellulaire standard
Édition du gène CRISPR	Modification des cellules	Ciblage thérapeutique amélioré

Pipeline avancé des thérapies de traitement du cancer

IN8BIO maintient une approche stratégique du développement thérapeutique.

• INB-200: traitement du glioblastome
• INB-400: thérapie de leucémie myéloïde aiguë
• Recherche en cours dans les interventions tumorales solides

Thérapie	Indication cible	Étape clinique
INB-200	Glioblastome	Phase 1/2
INB-400	Leucémie myéloïde aiguë	Préclinique

IN8BIO, Inc. (INAB) - Modèle d'entreprise: Ressources clés

Plates-formes d'ingénierie cellulaire propriétaires

In8Bio utilise plate-forme d'ingénierie des cellules T Gamma-Delta avec des capacités technologiques spécifiques:

Composant de plate-forme	Spécifications techniques
Technique de modification des cellules	Génie génétique de précision
Type de cellule cible	Cellules T gamma-delta
Capacité de modification	Interventions immunothérapeutiques ciblées

Équipe de recherche et développement spécialisée

Composition de l'équipe R&D d'IN8BIO:

• Personnel total de R&D: 32 chercheurs
• Scientifiques de niveau doctoral: 18
• Spécialistes de l'immunothérapie: 12
• Experts en génie génétique: 8

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre d'actifs
Brevets accordés	7
Demandes de brevet	15
Brevets provisoires	5

Installations avancées de laboratoire et de recherche

Détails de l'infrastructure de recherche:

• Espace total de laboratoire: 8 500 pieds carrés
• Bios-le niveau 2 Installations: 3 laboratoires dédiés
• Équipement de manipulation cellulaire: 12 unités spécialisées
• Investissement annuel sur l'équipement de recherche: 1,2 million de dollars

Expertise en essai clinique

Métrique d'essai clinique	État actuel
Essais cliniques actifs	4
Essais terminés	6
Phases d'essai	Phase 1 et phase 2
Investissement total des essais cliniques	22,3 millions de dollars

IN8BIO, Inc. (INAB) - Modèle d'entreprise: propositions de valeur

Traitements d'immunothérapie contre le cancer innovantes

IN8BIO se concentre sur le développement de thérapies par cellules T gamma-delta avec les caractéristiques spécifiques suivantes:

Type de thérapie	Indication cible	Étape clinique
INB-200	Glioblastome	Essai clinique de phase 1/2
INB-300	Leucémie myéloïde aiguë	Essai clinique de phase 1

Thérapies cellulaires ciblées pour tumeurs solides

La plate-forme de thérapie cellulaire de l'entreprise aborde des caractéristiques tumorales spécifiques:

• Utilise des thérapies aux cellules T gamma-delta allogéniques standard
• Cible plusieurs types de tumeurs solides
• Conçu pour surmonter les limites des immunothérapies actuelles

Potentiel d'approches de traitement du cancer personnalisées

Fonctionnalité technologique	Caractéristique unique
Plate-forme de cellules T gamma-delta	Capacité à cibler plusieurs types de tumeurs
Approche allogénique	Potentiel de traitement standardisé

Options thérapeutiques alternatives pour les cancers stimulants

L'approche thérapeutique d'IN8BIO se concentre sur:

• Traitement du glioblastome avec des options de courant limitées
• Thérapies de leucémie myéloïde aiguë
• Potentiel de lutte contre les cancers résistants au traitement

Au quatrième trimestre 2023, IN8BIO a déclaré 35,4 millions de dollars en espèces et en espèces, soutenant le développement clinique en cours de ses plateformes thérapeutiques.

IN8BIO, Inc. (Inab) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les professionnels de la santé en oncologie

IN8BIO maintient l'engagement direct grâce à des interactions ciblées avec des spécialistes d'oncologie dans les principaux centres médicaux:

Méthode d'engagement	Fréquence	Institutions cibles
Réunions de recherche clinique	Trimestriel	12 centres de cancer nationaux
Participation du symposium de recherche	Bi-annuellement	8 conférences d'oncologie majeures

Soutien aux patients et recrutement d'essais cliniques

Les stratégies de recrutement des essais cliniques comprennent:

• Protocoles de dépistage des patients ciblés
• Ressources complètes d'information sur les patients
• Réseau de référence direct avec 17 cliniques d'oncologie spécialisées

Communication transparente sur les progrès de la recherche

Canal de communication	Fréquence	Atteindre
Présentations des investisseurs	Trimestriel	Plus de 500 investisseurs institutionnels
Publications scientifiques	Bi-annuellement	3-4 revues à comité de lecture

Approche collaborative avec les prestataires de soins de santé

Les mécanismes collaboratifs comprennent:

• Accords de partenariat de recherche avec 6 principaux centres médicaux universitaires
• Protocoles de développement conjoint des essais cliniques
• Cadres d'analyse des données partagées

IN8BIO, Inc. (INAB) - Modèle d'entreprise: canaux

Présentations de la conférence médicale directe

IN8BIO a participé aux conférences médicales suivantes en 2023-2024:

Nom de conférence	Date	Emplacement	Focus de présentation
Réunion annuelle de l'American Society of Hematology (ASH)	9-12 décembre 2023	San Diego, CA	Thérapie de lymphocytes T gamma delta spécifique à GD2
Réunion annuelle de la Society for Immunotherapy of Cancer (SITC)	8-12 novembre 2023	San Diego, CA	Plate-forme allogénique de lymphocytes T gamma delta

Plateformes de publication scientifique

Publication Metrics for IN8BIO Research Communications:

• Publications de journal évaluées par des pairs en 2023: 3
• Total des citations de recherche sur les entreprises: 47
• Plateformes utilisées: Nature Biotechnology, Cell, Blood Journal

Communications des relations avec les investisseurs

Canal de communication	Fréquence	Atteindre
Appels de résultats trimestriels	4 fois par an	Environ 85 investisseurs institutionnels
Présentations des investisseurs	6-8 par an	Plus de 120 entreprises d'investissement potentielles

Réseaux de santé numérique et de biotechnologie

Métriques d'engagement numérique:

• LinkedIn adepte: 3 412
• Twitter / x abonnés: 1 876
• Site Web Visiteurs mensuels uniques: 5 240
• Connexions du réseau de biotechnologie: 287 contacts professionnels

IN8BIO, Inc. (Inab) - Modèle d'entreprise: segments de clientèle

Centres de traitement en oncologie

IN8BIO cible des centres de traitement en oncologie spécialisés avec des capacités spécifiques:

Type de centre	Volume cible potentiel	Focus spécialisé
Centres nationaux du réseau du cancer complet (NCCN)	52 centres spécialisés	Traitements tumoraux solides avancés
Centres médicaux académiques	~ 150 centres à l'échelle nationale	Recherche d'immunothérapie complexe

Institutions de recherche sur le cancer

Les institutions de recherche représentent des segments de clients critiques pour les thérapies innovantes d'IN8BIO:

• National Cancer Institute (NCI) Centres de cancer complets désignés: 51 institutions
• Grandes universités de recherche avec des programmes d'oncologie dédiés: ~ 75 institutions
• Fondations de recherche privée axées sur l'immunothérapie: 23 organisations importantes

Patients avec des cancers de tumeurs solides

Target démographique des patients pour les thérapies d'IN8BIO:

Type de cancer	Population annuelle estimée des patients	Segment de marché potentiel
Glioblastome	~ 13 000 nouveaux cas par an	Patiens de tumeurs cérébrales de haut grade
Cancer colorectal	~ 150 000 nouveaux cas par an	Patients avancés / réfractaires

Partenaires pharmaceutiques et biotechnologiques

Potentiel de partenariat stratégique:

• Top 20 des sociétés pharmaceutiques axées sur l'oncologie
• Biotechnology Cirmols spécialisés dans l'immunothérapie
• Des sociétés de capital-risque investissant dans la médecine de précision

Catégorie de partenaire	Nombre de partenaires potentiels	Investissement annuel de R&D
Grandes sociétés pharmaceutiques	20 entreprises	186 milliards de dollars en oncologie collective R&D
Entreprises de biotechnologie	~ 500 entreprises spécialisées	45 milliards de dollars d'investissements d'immunothérapie

IN8BIO, Inc. (Inab) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, IN8BIO a déclaré des frais de recherche et de développement de 22,5 millions de dollars.

Année	Dépenses de R&D	Pourcentage des dépenses totales
2022	18,3 millions de dollars	65.4%
2023	22,5 millions de dollars	68.2%

Coûts de gestion des essais cliniques

Les dépenses d'essai cliniques pour IN8BIO en 2023 ont totalisé environ 15,7 millions de dollars.

• Essais de phase 1: 6,2 millions de dollars
• Essais de phase 2: 9,5 millions de dollars

Protection de la propriété intellectuelle

La propriété intellectuelle et les dépenses liées aux brevets pour 2023 étaient de 1,4 million de dollars.

Catégorie de coûts IP	Montant
Dépôt de brevet	$750,000
Entretien de brevets	$450,000
Conseil juridique	$200,000

Personnel et talent scientifique spécialisé

Les dépenses de personnel pour 2023 ont atteint 12,6 millions de dollars.

• Total des employés: 65
• Salaire moyen du personnel scientifique: 185 000 $
• Rémunération des cadres: 3,2 millions de dollars

Infrastructure de laboratoire et technologique

Les coûts d'infrastructure et de technologie pour 2023 étaient de 5,3 millions de dollars.

Catégorie d'infrastructure	Frais
Équipement de laboratoire	3,1 millions de dollars
Systèmes technologiques	1,5 million de dollars
Entretien	$700,000

IN8BIO, Inc. (INAB) - Modèle d'entreprise: sources de revenus

Ventes potentielles de produits thérapeutiques potentiels

En 2024, IN8BIO n'a pas généré de revenus de produits commerciaux. L'objectif principal de l'entreprise reste sur le développement de thérapies des lymphocytes gamma delta T pour les tumeurs solides et les tumeurs malignes hématologiques.

Subventions de recherche et financement gouvernemental

Source de financement	Montant	Année
Grant Institute du Cancer National (NCI)	1,5 million de dollars	2023
Grant de recherche sur l'innovation des petites entreprises (SBIR)	$750,000	2022

Accords de licence potentiels

Potentiel de licence actuel:

• Programme INB-200 pour GBM (glioblastome)
• Programme INB-400 pour la leucémie myéloïde aiguë (AML)

Collaborations de partenariat stratégique

Les états financiers d'IN8BIO indiquent les revenus de collaboration potentiels, bien que les détails spécifiques du partenariat soient limitées.

Type de collaboration	Fourchette de revenus potentiel
Collaboration de recherche	500 000 $ - 2 millions de dollars
Transfert de technologie	1 million de dollars - 5 millions de dollars

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.