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Spin-offs/Inhibrx, Inc. (acquired by Sanofi at the separation) → Inhibrx Biosciences, Inc.

Inhibrx Biosciences, Inc.INBX

Spin-off from Inhibrx, Inc. (acquired by Sanofi at the separation) · May 29, 2024 · Nasdaq

Announced
—
Form 10 filed
Apr 25, 2024
Record date
May 17, 2024
Distributed
May 29, 2024
Ratio
1 : 4
Debt loaded
—
Cash to parent
—
Latest filing
May 15, 2024

one share of Inhibrx Biosciences for every four shares of Inhibrx, Inc.; 92% of the new company distributed

Documents

Form 10Information statementNew company filings

Both companies today

The new company
Inhibrx Biosciences, Inc.INBX
Market cap
$1.88B
Moat
None
Quality
6
Price
$121.17
Fair value
$3087.46
Price / FV
0.04×
The parent
Inhibrx, Inc. (acquired by Sanofi at the separation)

No ticker yet; the numbers follow the listing.

Moat ratings, quality scores and fair value estimates are MoatScope research opinions and refresh with the data pipeline. Price / FV below 1.00× means the shares trade under our base-case estimate.

What is being separated

Inhibrx Biosciences holds the Inhibrx pipeline other than the INBRX-101 program, which the acquirer bought together with the remaining company; the new company took over the INBX symbol after the merger closed.

Stated rationaleThe spin-off was structured so that Inhibrx stockholders kept the rest of the pipeline while the acquirer purchased only the INBRX-101 program.

The four questions

The four-question write-up for Inhibrx Biosciences, Inc. is pending. Terms, documents and both companies’ numbers above are live; the checklist is added once the information statement has been worked through.

Not investment advice. Terms are as stated in the latest filing; spin-off shares are often thinly covered and volatile in their first months.