Summary by Moomoo AI
IN8bio reported Q2 2024 financial results and received a Nasdaq deficiency notice for bid price below $1.00. The company posted a net loss of $8.6 million ($0.19 per share) compared to $7.7 million ($0.27 per share) in Q2 2023. Cash position stood at $10.2 million as of June 30, 2024, down from $21.3 million at 2023 year-end.The company presented positive Phase 1 data showing 100% one-year complete remission in evaluable leukemia patients for INB-100, with some patients remaining relapse-free for over three years. Additionally, 92% of glioblastoma patients treated with INB-200 exceeded median seven-month progression-free survival with standard care.Regarding the Nasdaq notice, IN8bio has until February 3, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days. If unsuccessful, the company may be eligible for an additional 180-day compliance period by transferring to Nasdaq Capital Market.
