IN8BIO, INC. (INAB): restructuring charge — IN8bio cuts workforce 49%, suspends GBM trial to focus on AML therapy INB-100

IN8BIO, INC.

Workforce reduced from 37 to 19 FTEs; exec/board take 11% cash compensation cut.
One-time severance costs of ~$0.3M expected in Q3 2024.
INB-100 Phase 1 AML trial shows 100% relapse-free survival at median 18.7 months follow-up; expansion cohort targeting ~25 patients by H1 2025.
Enrollment suspended in INB-400 Phase 2 GBM trial; IN8bio will monitor existing patients and explore partnerships.
Company exploring other strategic alternatives to preserve cash.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

IN8BIO, INC. announced a restructuring with charges of approximately $0.3 million affecting all functional areas, New York City and Birmingham, Alabama sites (from 37 to 19 full-time employees).

Type: restructuring
Charge: approximately $0.3 million
Affected area: all functional areas, New York City and Birmingham, Alabama sites
Headcount: from 37 to 19 full-time employees

Exact text from the filing

such employee’s execution of a separation agreement, which includes a general release of claims against the Company. The Company expects to incur one-time costs of approximately $0.3 million in connection with this workforce reduction, of which nearly all are cash expenditures related to severance. The Company communicated the workforce reduction on September 4, 2024

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IN8BIO, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-213132

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