Why Is INHIBRX BIOSCIENCES (INBX) Stock Moving Today?

INBX stock is up 5.72% at $120.88 as of the latest trade, driven by positive Phase 2 data for its cancer therapy INBRX-106. The drug combination showed higher response rates in head and neck cancer trials, with the CEO and two directors buying shares on the same day the data was released.

What Happened

Inhibrx Biosciences announced strong Phase 2 results for INBRX-106 in combination with pembrolizumab, showing a 48.3% clinical overall response rate compared to 26.5% for monotherapy. The data was disclosed in a SEC Form 8-K filed on September 8, 2026, and the company is set to present the findings in a webcast. H.C. Wainwright reiterated a Buy rating for the stock, while Seeking Alpha highlighted the therapy’s outperformance of Merck’s Keytruda in the trial. The stock opened with a 2.7% gap up at $117.38, reflecting the market's positive reaction to the news. The CEO and two directors each made purchases on September 8, adding to the momentum.

What The Data Shows

The stock has moved -9.4% over the past eight sessions, from $123.93 to $112.28, but has now surged to a new 52-week high. The session opened at $117.38 and reached a high of $123.69 before settling near $121.40. The volume so far is 0.0M shares, which is below the 3-month average. The company has a market cap of $1.8B and remains unprofitable, with a trailing twelve-month EPS of -8.88 and revenue declining 100% year-to-date. The stock has a beta of 3.67, indicating high volatility. Three insiders have bought a total of $3.5M in shares over the last 90 days.

What To Watch

The company is scheduled to present the Phase 2 HNSCC results in a webcast on September 8, 2026, at 5:00 a.m. PT. Investors should monitor the coverage breadth and any follow-up data that may influence the stock’s trajectory ahead of the FDA BLA filing in April 2027.