Cardiff Oncology shares plunge after Q2 earnings miss
In a challenging year for In8bio Inc, the biotechnology firm’s stock has plummeted to a 52-week low, trading at just $0.22. This significant downturn reflects a stark 1-year change, with the company’s stock value eroding by -80.44%. Despite the current market cap of just $15.87 million, analyst price targets range from $1.20 to $7.50, suggesting potential upside according to InvestingPro data. Investors have witnessed a turbulent period as In8bio Inc grapples with market pressures and internal challenges, leading to a dramatic drop from its previous year’s levels. While maintaining a current ratio of 1.84, the company faces cash burn challenges. The current price marks a concerning milestone for stakeholders as they assess the company’s future prospects and strategic direction in an ever-competitive biotech industry. InvestingPro subscribers have access to 10+ additional tips and metrics to better evaluate In8bio’s financial health.
In other recent news, IN8bio, Inc. announced promising Phase 1 trial results for its INB-100 therapy, aimed at reducing relapse in high-risk acute myeloid leukemia (AML) patients. The trial showed a 100% relapse-free survival rate over a median follow-up of 20.1 months, with a 1-year progression-free survival rate of 90.9% and an overall survival rate of 100%. This development has led Jones Trading to upgrade IN8bio’s stock rating from Hold to Buy, setting a new price target of $1.20. Additionally, IN8bio has been granted an extension by Nasdaq to meet its minimum bid price requirement, giving the company until August 4, 2025, to comply. The company is considering strategies such as a reverse stock split to address this issue. In leadership news, Travis Whitfill announced his resignation from IN8bio’s Board of Directors, effective May 9, 2025. His departure is not due to any disagreements with the company’s operations or policies. IN8bio continues to advance its clinical programs and explore regulatory pathways for its therapies.
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