IN8BIO, INC. (INAB): Modelo de negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução da imunoterapia contra o câncer, a In8bio, Inc. (INAB) surge como uma empresa pioneira de biotecnologia com uma abordagem transformadora para o tratamento de tumores sólidos. Ao alavancar as tecnologias de células T de ponta de ponta de ponta e plataformas inovadoras de engenharia celular, a empresa está redefinindo estratégias personalizadas de tratamento de câncer. Essa tela abrangente do modelo de negócios revela um projeto sofisticado que entrelaça a inovação científica, as parcerias estratégicas e uma visão ousada para abordar alguns dos tipos de câncer mais desafiadores, promissores em potenciais avanços que poderiam revolucionar os cuidados oncológicos.

In8bio, Inc. (INAB) - Modelo de negócios: parcerias -chave

Colaborações estratégicas com instituições de pesquisa acadêmica

A IN8BIO estabeleceu parcerias com as seguintes instituições de pesquisa acadêmica:

Instituição	Foco na pesquisa	Status da parceria
Memorial Sloan Kettering Cancer Center	Pesquisa de imunoterapia com células T Delta Gamma	Colaboração ativa
MD Anderson Cancer Center	Desenvolvimento avançado de terapia celular	Parceria de Pesquisa em andamento

Parcerias de Pesquisa e Desenvolvimento Farmacêutico

Principais parcerias farmacêuticas de P&D incluem:

• Parceria com a Precision Biosciences for Gennes Editing Technologies
• Acordo de Pesquisa Colaborativa com Tmunity Therapeutics

Redes de locais de ensaios clínicos e centros médicos

A IN8BIO estabeleceu parcerias de ensaios clínicos com as seguintes redes:

Rede/centro	Foco no ensaio clínico	Número de sites ativos
Rede de pesquisa de câncer Swog	Imunoterapias tumorais sólidas	12 sites ativos
Aliança para ensaios clínicos em oncologia	Tratamentos avançados de câncer	15 centros médicos participantes

Acordos de licenciamento em potencial com empresas de biotecnologia

Acordos atuais de licenciamento e colaboração:

• Biosciências de precisão: Licença não exclusiva para a plataforma de edição de genes Arcus
• Discussões exploratórias com várias empresas de biotecnologia para possíveis licenciamento futuro de terapias de células T Delta Gamma

A partir do quarto trimestre 2023, o In8bio relatou 3 colaborações de pesquisa estratégica ativa e 2 possíveis discussões de licenciamento em andamento.

In8bio, Inc. (INAB) - Modelo de negócios: atividades -chave

Desenvolvimento de imunoterapias de células T gama-delta

In8bio se concentra no desenvolvimento imunoterapias de células T gama-delta direcionando tumores sólidos e neoplasias hematológicas.

Foco na pesquisa	Status atual	Estágio de desenvolvimento
Terapia INB-200	Fase 1/2 ensaios clínicos	Tratamento de glioblastoma
Terapia INB-400	Pesquisa pré -clínica	Leucemia mielóide aguda

Condução de pesquisa pré -clínica e clínica

O In8bio se envolve em pesquisas abrangentes em vários domínios terapêuticos.

• Ensaios clínicos em andamento em glioblastoma
• Estudos pré -clínicos para leucemia mielóide aguda
• Preparativos de aplicação de novos medicamentos para investigação (IND)

Engenharia de genes e tecnologias de modificação de células

Tecnologia	Aplicativo	Características únicas
Plataforma alogênica de células T gama-delta	Imunoterapia contra o câncer	Abordagem de terapia celular pronta para uso
Edição de genes CRISPR	Modificação de células	Alvo terapêutico aprimorado

Avançar o pipeline de terapias de tratamento de câncer

O In8bio mantém uma abordagem estratégica do desenvolvimento terapêutico.

• INB-200: Tratamento de glioblastoma
• INB-400: terapia de leucemia mielóide aguda
• Pesquisa em andamento em intervenções tumorais sólidas

Terapia	Indicação alvo	Estágio clínico
INB-200	Glioblastoma	Fase 1/2
INB-400	Leucemia mielóide aguda	Pré -clínico

IN8BIO, INC. (INAB) - Modelo de negócios: Recursos -chave

Plataformas de engenharia de células proprietárias

In8bio utiliza plataforma de engenharia de células T gama-delta Com recursos tecnológicos específicos:

Componente da plataforma	Especificação técnica
Técnica de modificação de células	Engenharia genética de precisão
Tipo de célula alvo	Células T gama-delta
Capacidade de modificação	Intervenções imunoterapêuticas direcionadas

Equipe especializada de pesquisa e desenvolvimento

Composição da equipe de P&D da IN8BIO:

• Pessoal total de P&D: 32 pesquisadores
• Cientistas do nível de doutorado: 18
• Especialistas em imunoterapia: 12
• Especialistas em engenharia genética: 8

Portfólio de propriedade intelectual

Categoria IP	Número de ativos
Patentes concedidas	7
Aplicações de patentes	15
Patentes provisórias	5

Instalações avançadas de laboratório e pesquisa

Detalhes da infraestrutura de pesquisa:

• Espaço total de laboratório: 8.500 pés quadrados
• Instalações de Nível 2 da Biossegurança: 3 laboratórios dedicados
• Equipamento de manipulação de células: 12 unidades especializadas
• Investimento anual de equipamentos de pesquisa: US $ 1,2 milhão

Especialização em ensaios clínicos

Métrica do ensaio clínico	Status atual
Ensaios clínicos ativos	4
Ensaios concluídos	6
Fases de teste	Fase 1 e Fase 2
Investimento total de ensaios clínicos	US $ 22,3 milhões

In8bio, Inc. (INAB) - Modelo de negócios: proposições de valor

Tratamentos inovadores de imunoterapia ao câncer

O IN8BIO se concentra no desenvolvimento de terapias de células T gama-delta com as seguintes características específicas:

Tipo de terapia	Indicação alvo	Estágio clínico
INB-200	Glioblastoma	Ensaio Clínico de Fase 1/2
INB-300	Leucemia mielóide aguda	Ensaio clínico de fase 1

Terapias celulares direcionadas para tumores sólidos

A plataforma de terapia celular da empresa aborda características específicas do tumor:

• Utiliza terapias de células T gama-delta-delta
• Alvo vários tipos de tumores sólidos
• Projetado para superar as limitações das imunoterapias atuais

Potencial para abordagens personalizadas de tratamento de câncer

Recurso de tecnologia	Característica única
Plataforma de células T gama-delta	Capacidade de atingir vários tipos de tumores
Abordagem alogênica	Potencial para tratamento padronizado

Opções terapêuticas alternativas para cânceres desafiadores

A abordagem terapêutica do In8bio se concentra em:

• Tratamento de glioblastoma com opções atuais limitadas
• Terapias de leucemia mielóide aguda
• Potencial para abordar cânceres resistentes ao tratamento

A partir do quarto trimestre de 2023, a IN8BIO registrou US $ 35,4 milhões em caixa e equivalentes em dinheiro, apoiando o desenvolvimento clínico em andamento de suas plataformas terapêuticas.

IN8BIO, INC. (INAB) - Modelo de negócios: relacionamentos com o cliente

Engajamento direto com profissionais médicos de oncologia

O IN8BIO mantém o envolvimento direto por meio de interações direcionadas com especialistas em oncologia nos principais centros médicos:

Método de engajamento	Freqüência	Instituições -alvo
Reuniões de pesquisa clínica	Trimestral	12 centros de câncer nacionais
Participação do Simpósio de Pesquisa	Bi-semestralmente	8 principais conferências de oncologia

Suporte ao paciente e recrutamento de ensaios clínicos

As estratégias de recrutamento de ensaios clínicos incluem:

• Protocolos de triagem de pacientes direcionados
• Recursos abrangentes de informação do paciente
• Rede de referência direta com 17 clínicas de oncologia especializadas

Comunicação transparente sobre o progresso da pesquisa

Canal de comunicação	Freqüência	Alcançar
Apresentações de investidores	Trimestral	Mais de 500 investidores institucionais
Publicações científicas	Bi-semestralmente	3-4 revistas revisadas por pares

Abordagem colaborativa com profissionais de saúde

Os mecanismos colaborativos incluem:

• Acordos de parceria de pesquisa com 6 principais centros médicos acadêmicos
• Protocolos conjuntos de desenvolvimento de ensaios clínicos
• Estruturas de análise de dados compartilhadas

In8bio, Inc. (INAB) - Modelo de negócios: canais

Apresentações de conferências médicas diretas

In8bio participou das seguintes conferências médicas em 2023-2024:

Nome da conferência	Data	Localização	Foco de apresentação
Reunião Anual da Sociedade Americana de Hematologia (Ash)	9-12 de dezembro de 2023	San Diego, CA.	Terapia de células T Gamma Delta específica para GD2
Sociedade de Imunoterapia do Câncer (SITC) Reunião Anual	8-12 de novembro de 2023	San Diego, CA.	Plataforma alogênica de células T delta gama

Plataformas de publicação científica

Métricas de publicação para comunicações de pesquisa in8bio:

• Publicações de revistas revisadas por pares em 2023: 3
• Citações totais de pesquisa da empresa: 47
• Plataformas usadas: Nature Biotechnology, Cell, Blood Journal

Comunicações de Relações com Investidores

Canal de comunicação	Freqüência	Alcançar
Chamadas de ganhos trimestrais	4 vezes por ano	Aproximadamente 85 investidores institucionais
Apresentações de investidores	6-8 por ano	Mais de 120 empresas de investimento em potencial

Redes de saúde digital e biotecnologia

Métricas de engajamento digital:

• Seguidores do LinkedIn: 3.412
• Twitter/X Seguidores: 1.876
• Site exclusivo visitantes mensais: 5.240
• Conexões de rede de biotecnologia: 287 contatos profissionais

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

Centros de tratamento oncológicos

O IN8BIO tem como alvo os centros especializados de tratamento de oncologia com recursos específicos:

Tipo de centro	Volume alvo potencial	Foco especializado
Centros da Rede Nacional de Câncer (NCCN)	52 centros especializados	Tratamentos avançados de tumores sólidos
Centros Médicos Acadêmicos	~ 150 centros em todo o país	Pesquisa de imunoterapia complexa

Instituições de Pesquisa do Câncer

As instituições de pesquisa representam segmentos críticos de clientes para terapias inovadoras da IN8BIO:

• Instituto Nacional de Câncer (NCI) Centros de Câncer Abrangentes Designados: 51 Instituições
• Principais universidades de pesquisa com programas de oncologia dedicados: ~ 75 instituições
• Fundamentos de pesquisa privada com foco em imunoterapia: 23 organizações significativas

Pacientes com câncer de tumor sólido

Demografia de pacientes -alvo para terapias da In8bio:

Tipo de câncer	População anual estimada de pacientes	Segmento de mercado potencial
Glioblastoma	~ 13.000 novos casos anualmente	Pacientes com tumores cerebrais de alta qualidade
Câncer colorretal	~ 150.000 novos casos anualmente	Pacientes avançados/refratários

Parceiros farmacêuticos e de biotecnologia

Potencial de parceria estratégica:

• 20 principais empresas farmacêuticas focadas em oncologia
• Empresas de biotecnologia especializadas em imunoterapia
• Empresas de capital de risco que investem em medicina de precisão

Categoria de parceiro	Número de parceiros em potencial	Investimento anual de P&D
Grandes empresas farmacêuticas	20 empresas	US $ 186 bilhões em P&D coletiva de oncologia
Empresas de biotecnologia	~ 500 empresas especializadas	Investimentos de imunoterapia de US $ 45 bilhões

In8bio, Inc. (INAB) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, o In8bio relatou despesas de pesquisa e desenvolvimento de US $ 22,5 milhões.

Ano	Despesas de P&D	Porcentagem do total de despesas
2022	US $ 18,3 milhões	65.4%
2023	US $ 22,5 milhões	68.2%

Custos de gerenciamento de ensaios clínicos

As despesas de ensaios clínicos para o IN8BIO em 2023 totalizaram aproximadamente US $ 15,7 milhões.

• Ensaios de fase 1: US $ 6,2 milhões
• Ensaios de fase 2: US $ 9,5 milhões

Proteção à propriedade intelectual

A propriedade intelectual e as despesas relacionadas a patentes em 2023 foram de US $ 1,4 milhão.

Categoria de custo de IP	Quantia
Registro de patentes	$750,000
Manutenção de patentes	$450,000
Consultoria legal	$200,000

Pessoal e talento científico especializado

As despesas de pessoal para 2023 atingiram US $ 12,6 milhões.

• Total de funcionários: 65
• Salário médio da equipe científica: US $ 185.000
• Compensação de executivos: US $ 3,2 milhões

Infraestrutura de laboratório e tecnologia

Os custos de infraestrutura e tecnologia para 2023 foram de US $ 5,3 milhões.

Categoria de infraestrutura	Despesa
Equipamento de laboratório	US $ 3,1 milhões
Sistemas de tecnologia	US $ 1,5 milhão
Manutenção	$700,000

In8bio, Inc. (INAB) - Modelo de negócios: fluxos de receita

Vendas futuras de produtos terapêuticos futuros

A partir de 2024, o IN8BIO não gerou receita de produtos comerciais. O foco principal da empresa continua no desenvolvimento de terapias de células T Delta Gamma para tumores sólidos e neoplasias hematológicas.

Bolsas de pesquisa e financiamento do governo

Fonte de financiamento	Quantia	Ano
Grant do National Cancer Institute (NCI)	US $ 1,5 milhão	2023
Grant de pesquisa em pequenas empresas (SBIR)	$750,000	2022

Acordos de licenciamento em potencial

Potencial de licenciamento atual:

• Programa INB-200 para GBM (Glioblastoma)
• Programa INB-400 para leucemia mielóide aguda (AML)

Colaborações de parceria estratégica

As demonstrações financeiras do IN8BIO indicam possíveis receitas de colaboração, embora detalhes específicos da parceria sejam limitados.

Tipo de colaboração	Faixa de receita potencial
Colaboração de pesquisa	US $ 500.000 - US $ 2 milhões
Transferência de tecnologia	US $ 1 milhão - US $ 5 milhões

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.