Summary by Moomoo AI
In8bio, a clinical-stage biopharmaceutical company, has reported its financial and operational performance for the quarter ended March 31, 2024. The company has not generated any revenue and continues to incur losses as it advances its product candidates through clinical trials. In8bio's total lease cost for the quarter was $642,000, an increase from $380,000 in the same period the previous year. The company's operating lease for office space in Birmingham, Alabama, was modified and expanded, resulting in increased lease assets and liabilities. In8bio also maintains an operating lease for office space in New York and has an embedded lease within the University of Louisville Manufacturing Services Agreement. The company's research and development expenses increased to $4.9 million, up from $4.4 million year-on-year, primarily due...Show More