Inhibrx shares are trading higher after the company announced the sale of INBRX-101 to Sanofi for an aggregate value of up to $2.2 billion.
Portfolio Pulse from Benzinga Newsdesk
Inhibrx, Inc. (INBX) shares have risen following the announcement of the sale of their asset INBRX-101 to Sanofi for a potential total of $2.2 billion.

January 23, 2024 | 5:06 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Sanofi's acquisition of INBRX-101 from Inhibrx could potentially enhance its portfolio, but the impact on its stock price may be muted given the relative size of the deal.
While the acquisition of INBRX-101 is a strategic move for Sanofi to strengthen its product pipeline, the financial impact of the deal is relatively small compared to Sanofi's overall market capitalization. Therefore, the short-term impact on Sanofi's stock price is likely to be limited, as the market may have already priced in such acquisitions as part of Sanofi's growth strategy.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Inhibrx's stock price is likely to increase in the short term due to the sale of INBRX-101 to Sanofi, which could bring in up to $2.2 billion.
The sale of INBRX-101 to Sanofi represents a significant influx of potential capital for Inhibrx, which is a substantial positive development for the company. This deal is likely to be viewed favorably by investors, as it not only provides immediate financial benefits but also validates Inhibrx's research and development capabilities. The size of the deal relative to the company's market capitalization suggests a material impact on the company's valuation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100