Inhibrx Soars After Breakthrough in Chondrosarcoma Trial

Inhibrx Biosciences (INBX) shares surged 102% in one day, now up 276% for the year, following highly positive phase 2 results for its lead candidate ozekibart. The drug showed a significant progression-free survival benefit in patients with advanced or metastatic chondrosarcoma, a first in this rare cancer. This success has renewed optimism about the drug’s potential and the company’s long-term prospects, despite a now elevated valuation with a price-to-book ratio of 12.1x, well above the sector average of 2.5x. While this reflects strong expectations for ozekibart’s future commercial launch, any clinical setback could undermine the current market enthusiasm.