Instil Bio Q3 net loss $3.54/sh; cash $122.9M; licensed PD-L1xVEGF bispecific SYN-2510

Instil Bio, Inc.

Licensed SYN-2510 (PD-L1xVEGF bispecific) and SYN-27M (CTLA-4 antibody) from ImmuneOnco for global ex-China rights.
Clinical data update for SYN-2510 monotherapy in China expected 1H 2025; Phase 1b/2 combo in NSCLC late 2024, TNBC 1H 2025 in China.
U.S. study of SYN-2510 in NSCLC targeted to start 2H 2025.
Cash, equivalents & securities $122.9M as of Sept 30, 2024 (down from $175.0M Dec 31, 2023); cash runway beyond 2026.
Q3 2024 net loss $3.54 per share vs $10.37 in Q3 2023; non-GAAP loss $2.55 vs $2.53.

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