Instil Bio Q1 net loss $57.1M; cash $223.9M; ITIL-306 phase 1 expected in 2H 2023

Instil Bio, Inc.

2023-Q1 EPS reported -$0.44

Net loss of $57.1M ($0.44 per share) vs $54.1M ($0.42) in Q1 2022; restructuring charges of $24.6M.
Cash, equivalents, restricted cash and marketable securities $223.9M at Mar 31, 2023, down from $260.9M at Dec 31, 2022; runway beyond 2026.
ITIL-306 phase 1 study in UK anticipated to initiate in 2H 2023 after MHRA CTA clearance; initial data expected in 2024.
R&D expenses fell to $20.7M from $39.2M YoY; quarterly cash burn expected <$10M from 2H 2023 through end of 2024.
Consolidating R&D to UK; pursuing lease or sale of Tarzana, CA manufacturing facility.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Instil Bio, Inc. reported quarter ended March 31, 2023 results: net income $ (57,068), EPS $ (0.44).

Period: quarter ended March 31, 2023
Net income: $ (57,068)
EPS: $ (0.44)
Result: reported results

Exact text from the filing

On May 11, 2023 , Instil Bio, Inc. (the “Company”) provided a corporate update and announced its financial results for the quarter ended March 31, 2023 in the press release attached hereto as Exhibit 99.1, which is incorporated herein by reference.

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Instil Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001789769-23-000067

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