VC-backed Inhibrx debuts IPO

La Jolla, California-based Inhibrx Inc, a clinical-stage biotech company, has raised $119 million for its IPO after pricing its 7 million shares at $17 per share. The stock began trading August 19, 2020 on the NASDAQ under the ticker symbol “INBX.” Jefferies, Evercore ISI and Credit Suisse are the lead underwriters. Inhibrx’s pre-IPO backers include Viking Global Investors LP, RA Capital, Lilly Asia Ventures, ArrowMark Partners and WuXi Biologics.

PRESS RELEASE

SAN DIEGO, Aug. 18, 2020 /PRNewswire/ — Inhibrx, Inc. (“Inhibrx”) (Nasdaq: INBX), a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates, today announced the pricing of its initial public offering of 7,000,000 shares of common stock at a price to the public of $17.00 per share. All of the shares of common stock are being offered by Inhibrx. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Inhibrx, are expected to be $119.0 million. Inhibrx’s common stock is expected to begin trading on the Nasdaq Global Market on August 19, 2020, under the symbol “INBX”. The offering is expected to close on August 21, 2020, subject to the satisfaction of customary closing conditions. In addition, Inhibrx has granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.
Jefferies, Evercore ISI and Credit Suisse are acting as joint book-running managers for the offering. LifeSci Capital is acting as co-manager for the offering.

Registration statements relating to these securities became effective on August 18, 2020. This offering is being made only by means of a prospectus. When available, a copy of the final prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@Jefferies.com; Evercore Group, L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Inhibrx, Inc.
Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. The Inhibrx pipeline is focused on oncology and orphan diseases. Inhibrx has collaborations with Elpiscience, bluebird bio, Celgene and Chiesi.