Are there any risks or uncertainties disclosed in the filing that could affect future performance (e.g., litigation, regulatory delays)?

Yes – the filing flags several material risks that could weigh on Inhibrx’s near‑term performance.

1. Regulatory‑approval uncertainty – As a clinical‑stage biotech, Inhibrx’s value is still heavily dependent on the timely clearance of its pipeline candidates (including the newly‑sold INBRX‑101 asset). Any FDA or foreign‑agency delays, additional data‑package requests, or adverse trial outcomes would directly compress cash‑flow forecasts and could force the company to raise capital under less‑favorable terms.

2. Transaction‑related litigation and integration risk – The press release notes the “completion of the sale of INBRX‑101” from the former parent, Inhibrx Inc. Such spin‑off deals often trigger post‑closing covenants, indemnification disputes, or shareholder lawsuits if counterparties allege breach of fiduciary duties. Until the transaction is fully settled and any contingent consideration is resolved, the company may still be exposed to contingent liabilities or contingent earn‑out payments that could hit earnings.

3. Liquidity and cash‑burn concerns – The Q2 results show a continued net cash‑burn as the company funds R&D while integrating the 101 transaction proceeds. If the anticipated proceeds are lower than projected (e.g., due to earn‑out adjustments or tax‑treatment disputes), Inhibrx may need to tap the capital markets sooner than expected, exposing it to market‑condition risk and potentially dilutive financing.

Trading implications

• Short‑to‑mid‑term bias: The combination of regulatory‑approval risk and transaction‑related uncertainty justifies a cautious stance. Traders should consider a modest short‑position or a protective put if the stock is already at elevated multiples relative to peers, especially given the biotech sector’s sensitivity to trial news.
  
• Long‑term upside: If the company can successfully navigate the regulatory pathway and the 101 transaction proceeds as expected, the cash‑injection could fund pipeline expansion and improve the balance sheet, offering a catalyst for a rebound. A “buy‑on‑dip” at a clear technical support level (e.g., the 20‑day moving average) may be appropriate for investors with a higher risk tolerance.
  

Bottom line: The filing highlights regulatory‑approval delays, potential post‑sale litigation, and cash‑flow uncertainty as key risk factors. Until these are resolved, the stock carries upside‑downside volatility, and traders should size positions accordingly, using options or stop‑losses to manage the downside.