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Stock impact report

Inhibrx Reports Fourth Quarter and Fiscal Year 2023 Financial Results [Yahoo! Finance]

Inhibrx, Inc. (INBX) 
Company Research Source: Yahoo! Finance
programs in development and a strong emerging pipeline, today reported financial results for the fourth quarter and fiscal year 2023. Key Highlights Sale of INBRX-101 to Sanofi: In January 2024 , the Company announced that it entered into a definitive agreement with Aventis, Inc. ("Aventis"), a subsidiary of Sanofi, whereby Sanofi will indirectly acquire, through Aventis, all of the assets and liabilities associated with INBRX-101 ("the Merger"). Immediately prior to the closing of the Merger, all non-101 assets and liabilities will be spun out into a new publicly traded company, Inhibrx Biosciences, Inc. ("New Inhibrx"). Sanofi will acquire all outstanding shares of the Company and, in turn, each shareholder will receive (i) per share in cash, (ii) one contingent value right per share, representing the right to receive a contingent payment of in cash upon the achievement of a regulatory milestone, and (iii) one SEC-registered, publicly-traded, share of New Inhibrx per every four Show less Read more
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