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NEW YORK - IN8bio, Inc. (NASDAQ:INAB), a biotechnology company specializing in innovative cancer therapies with a current market capitalization of $19.43 million, announced the departure of Travis Whitfill from its Board of Directors. Mr. Whitfill, who also served on the company’s committees, will officially resign on May 9, 2025. According to the company’s filing with the Securities and Exchange Commission (SEC), his resignation is not due to any disagreement with IN8bio’s operations, policies, or practices.
Whitfill’s decision to step down was communicated to IN8bio’s Board on Monday and disclosed in an SEC filing dated today. The company, formerly known as Incysus Therapeutics, Inc., is known for its work in the field of biological products, excluding diagnostic substances. According to InvestingPro data, the company’s financial health score stands at 1.34, indicating significant challenges ahead. It operates from its headquarters in the Empire State Building in New York City and is listed on The Nasdaq Stock Market LLC under the ticker (NASDAQ:INAB).
The filing did not specify a reason for Whitfill’s resignation nor did it mention a successor. As an emerging growth company, IN8bio is subject to certain reporting and regulatory standards under the Securities Exchange Act of 1934.
This announcement is based on the latest 8-K filing by IN8bio with the SEC and provides investors and the public with information on changes within the company’s leadership. The departure of a board member can be significant for shareholders, as it may lead to changes in governance and strategic direction. However, the company has not indicated that any such changes are imminent following Mr. Whitfill’s resignation.
IN8bio has not made any additional statements regarding the future composition of the Board or its committees. The company’s business address and contact information remain unchanged.
In other recent news, IN8bio, Inc. has reported positive outcomes from its Phase 1 trial of the INB-100 therapy for acute myeloid leukemia (AML) patients. The trial showed that 100% of patients treated with INB-100 remained in complete remission with a median follow-up of 20.1 months, surpassing historical control groups. The therapy demonstrated a one-year progression-free survival and overall survival rate of 100%, significantly higher than other reported data. Additionally, the safety profile of INB-100 was favorable, with no instances of severe side effects such as cytokine release syndrome or neurotoxicity. Jones Trading has upgraded IN8bio’s stock rating from Hold to Buy, setting a new price target of $1.20, influenced by the promising trial results. Furthermore, IN8bio has been granted an additional 180 days to meet Nasdaq’s minimum bid price rule, with plans to address the bid price deficiency. The company continues to enroll patients for the INB-100 program and anticipates completing the expansion cohort within 2025. These developments highlight IN8bio’s ongoing progress in advancing its therapies for high-risk leukemia patients.
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