Inhibrx, Inc. - FORM 8-K - June 21, 2021

Attached files

file filename
EX-99.2 - EX-99.2 - Inhibrx, Inc.inhibrxpresentationjune2.htm
EX-99.1 - EX-99.1 - Inhibrx, Inc.june2021chondropr.htm
EX-10.1 - EX-10.1 - Inhibrx, Inc.exhibit101thirdamendmentto.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549  
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 18, 2021  
INHIBRX, INC.
(Exact name of registrant as specified in its charter)  
Delaware001-3945282-4257312
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
11025 N. Torrey Pines Road, Suite 200
La Jolla, CA 92037
(Address of Principal Executive Offices and Zip Code)
Registrant’s telephone number, including area code: (858) 795-4220
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☒



Item 1.01    Entry Into a Material Definitive Agreement
On June 18, 2021, Inhibrx, Inc. (the “Company”) and Oxford Finance LLC (“Oxford”) entered into a third amendment (the “Third Amendment”) to the Loan and Security Agreement between the Company and Oxford, dated as of July 15, 2020, as amended by the First Amendment dated November 12, 2020 and the Second Amendment dated December 15, 2020 (collectively, the “Oxford Loan Agreement”). The Third Amendment increases the third tranche term loan from $20 million to $40 million and includes a minimum cash covenant of $20 million.

Except as noted above, the material terms of the Oxford Loan Agreement remain substantially unchanged.

The foregoing description of the Third Amendment is qualified in its entirety by reference to the Third Amendment attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 2.03    Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.

Item 7.01    Regulation FD Disclosure

On June 21, 2021, the Company issued a press release announcing the initiation of a potential registration-enabling Phase 2 study of INBRX-109 for the treatment of patients with conventional chondrosarcoma. INBRX-109 is a precision-engineered, tetravalent death receptor 5 (DR5) agonist antibody designed to exploit the tumor-biased cell death induced by DR5 activation.

Additionally, it provided updated results from its ongoing Phase 1 clinical trial evaluating the efficacy and safety of INBRX-109 in patients with conventional chondrosarcoma.

The full text of the Company's press release regarding these announcements is filed as Exhibit 99.1 to this Current Report on Form 8-K. Additionally, the Company posted an updated copy of its corporate slide presentation to the “Investors” tab of its website at www.inhibrx.com. These slides are also attached to this Current Report on Form 8-K as Exhibit 99.2. The Company from time to time presents and/or distributes to the investment community at various industry and other conferences slide presentations to provide updates and summaries of its business. It undertakes no obligation to update, supplement or amend the materials attached hereto as Exhibit 99.2.

The information in Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01.    Financial Statements and Exhibits.
(d) Exhibits.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 21, 2021
INHIBRX, INC.
By:/s/ Kelly Deck
Name:Kelly Deck
Title:Chief Financial Officer