Inhibrx Biosciences Provides Progress Updates on the INBRX-106 Program and the Expansion Cohorts of the ozekibart (INBRX-109) Program

On December 16, 2025 Inhibrx Biosciences, Inc. (Nasdaq: INBX) ("Inhibrx" or the "Company"), a clinical-stage biopharmaceutical company focused on developing therapeutics for oncology reported an update on the INBRX-106 Phase 2/3 clinical trial in combination with Keytruda (pembrolizumab) as a first-line treatment for patients with locally advanced unresectable or metastatic head and neck squamous cell carcinoma (HNSCC) and the Phase 1/2 trial evaluating patients with checkpoint inhibitor refractory or relapsed non-small cell lung cancer (NSCLC) in combination with Keytruda. The Company also provided a brief progress update on the expansion cohorts investigating ozekibart in combination with FOLFIRI in late-line colorectal cancer and in combination with irinotecan and temozolomide in refractory Ewing sarcoma.

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INBRX-106

Inhibrx has recruited 46 of the 60 patients in the randomized Phase 2 portion of the Phase 2/3 clinical trial evaluating INBRX-106 in combination with Keytruda versus Keytruda as a first-line treatment for patients with unresectable or metastatic HNSCC. Inhibrx expects to complete enrollment in the Phase 2 portion of the trial during the first quarter of 2026. This trial is recruiting patients who have not received prior systemic therapy for unresectable or metastatic HNSCC and have tumor PD-L1 CPS expression equal to or greater than 20. Patients are randomized one to one to either INBRX-106 in combination with Keytruda or Keytruda. The primary endpoint of the Phase 2 portion of this trial is overall response rate, supported by secondary endpoints of duration of response, progression free survival and safety.

In November 2025, Inhibrx completed enrollment of the Phase 1/2 trial evaluating 34 patients in checkpoint inhibitor refractory or relapsed NSCLC in combination with Keytruda. Primary endpoints for this cohort are objective response rate, disease control rate, duration of response and safety.

The current datasets for both HNSCC and NSCLC lack sufficient maturity to support an interpretation and conclusion on the viability of this program. Inhibrx expects that in the second half of 2026, the data should be mature enough to inform whether INBRX-106, in combination with Keytruda, demonstrates superior efficacy and sustained clinical benefit relative to the current standard of care.

KEYTRUDA is a registered trademark of Merck Sharp & Dohme Corp.

Ozekibart (INBRX-109)

In late October 2025, Inhibrx completed enrollment of 44 patients in the expansion cohort of the Phase 1/2 trial evaluating ozekibart in combination with FOLFIRI in heavily pretreated (third and fourth line) advanced or metastatic, unresectable colorectal cancer. As previously reported, ozekibart in combination with FOLFIRI was well tolerated, with durable responses and a high rate of disease control. The progression free survival data should be mature in the second quarter of 2026, and we plan to provide an update at that time.

Inhibrx expects to complete enrollment in the Phase 1/2 trial of ozekibart in combination with irinotecan and temozolomide (IRI/TMZ) for advanced or metastatic, unresectable, relapsed, or refractory Ewing sarcoma in the second quarter of 2026. If the current response and duration trends observed continue, Inhibrx plans to meet with the FDA in the second half of 2026 to discuss an accelerated approval pathway for this indication.

About INBRX-106

INBRX-106 is a precisely engineered hexavalent sdAb-based therapeutic candidate targeting OX40, designed to be an optimized agonist of this co-stimulatory receptor. It is currently being investigated in combination with Keytruda in patients with locally advanced or metastatic solid tumors, specifically HNSCC and NSCLC.

About ozekibart (INBRX-109)

Ozekibart is a precision-engineered, tetravalent death receptor 5 (DR5) agonist antibody designed to exploit the tumor-biased cell death induced by DR5 activation. Inhibrx read out a successful single agent registration study in chondrosarcoma and a BLA filing is expected in early Q2 of 2026. Additionally, Inhibrx is evaluating ozekibart in patients diagnosed with colorectal cancer and Ewing sarcoma.

(Press release, Inhibrx, DEC 16, 2025, View Source [SID1234661464])

Harbour BioMed Enters into Global Strategic Collaboration and License Agreement with Bristol Myers Squibb to Discover and Develop Next-Generation Multi-Specific Antibodies

On December 16, 2025 Harbour BioMed (HKEX: 02142), a global biopharmaceutical company committed to the discovery and development of novel antibody therapeutics in immunology and oncology, reported a multi-year, global strategic collaboration and license agreement with Bristol Myers Squibb to discover and develop next-generation multi-specific antibodies.

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Under the terms of the agreement, Harbour BioMed will collaborate with Bristol Myers Squibb to advance and accelerate multi-specific antibody discovery programs. In return, Harbour BioMed could receive payments totaling $90 million, as well as development and commercial milestones of up to $1.035 billion, along with tiered royalties should Bristol Myers Squibb elect to advance all potential programs.

Jingsong Wang, MD, PhD, Founder, Chairman, and CEO of Harbour BioMed, commented: "We are delighted to collaborate with Bristol Myers Squibb to advance next-generation multi-specific antibody discovery and development. This collaboration leverages our Harbour Mice fully human antibody technology platform, which facilitates the efficient discovery and development of innovative biologics with enhanced therapeutic potential. Furthermore, the collaboration offers the possibility to utilize our established development capabilities to accelerate programs by conducting early clinical trials in China. By uniting the strengths of our platform with Bristol Myers Squibb’s expertise in drug discovery and development, we look forward to progressing these programs and delivering transformative therapies to patients worldwide."

(Press release, Harbour BioMed, DEC 16, 2025, View Source [SID1234661463])

Ratio Therapeutics has successfully dosed the first cohort in its Phase 1/2 study evaluating a novel FAP-targeted radiopharmaceutical in patients with late-stage aggressive sarcomas

On December 16, 2025 Ratio Therapeutics Inc. (Ratio), a pharmaceutical company employing innovative technologies to develop best-in-class radiopharmaceuticals for cancer treatment and monitoring, reported that dosing of the first cohort has been completed in the ATLAS trial, a Phase 1/2 open-label study evaluating the safety, tolerability, and efficacy of the company’s lead therapeutic radiopharmaceutical, [Ac-225]-RTX-2358, targeting fibroblast activation protein‑α (FAP) in patients with relapsed or refractory soft tissue sarcomas.

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"Advancing [Ac-225]-RTX-2358 into the clinic represents a major milestone for our company and reflects years of dedicated and innovative work by our team," said John Babich, Ph.D., President and Chief Scientific Officer of Ratio. "The preclinical and early human experience point to a strong therapeutic profile for our drug in sarcoma, with encouraging signs of activity in additional FAP-expressing cancers. Initiation of this trial marks the entry of our first therapeutic into the clinic and underscores our commitment to developing innovative radiotherapies that can bring new treatment options to cancer patients."

"This study represents an important step in exploring a novel therapeutic approach for patients with relapsed or refractory sarcoma, a population with limited treatment options," said Dr. Sandra D’Angelo, MD, a Medical Oncologist specializing in the care of patients with sarcoma at Memorial Sloan Kettering Cancer Center. "Radiopharmaceuticals are transforming cancer treatment by delivering radiation directly to tumors with far greater precision and decreased side effects. Ratio’s technology is designed to further enhance these benefits, and we look forward to exploring the potential of [Ac-225]-RTX-2358 to provide a meaningful impact for patients suffering from this challenging disease."

About the ATLAS Trial

The ATLAS trial is a Phase 1/2 open-label clinical trial (clinicaltrials.gov identifier, NCT07156565) designed to assess the safety, tolerability, dosimetry, biodistribution, pharmacokinetics, and preliminary anti-tumor activity of [Ac-225]-RTX-2358, a highly selective, FAP targeted radiotherapeutic labeled with Actinium 225, in patients with relapsed or refractory soft tissue sarcomas that express FAP.

The study consists of two phases: an ascending administered activity phase (Phase 1) and an expansion phase (Phase 2). For patients to be eligible to receive treatment, FAP expression will be assessed using a [Cu-64]-LNTH-1363S PET scan. In the Phase 1 portion, patients with FAP positive sarcomas will receive intravenous injections of [Ac-225]-RTX-2358 once every eight weeks, for up to six treatment cycles over a 12-month period. Using a standard 3+3 dose escalation design, participants will be assigned to one of three groups, each receiving an increasing dose level to determine the maximum tolerated dose and establish a recommended dose for the expansion phase. Cohort expansion will be allowed to a max of 10 patients per cohort, enabling up to 26 patients to be treated and evaluated during the Phase 1 portion of the trial. This will allow better characterization of safety and tolerability as well as the assessment of preliminary efficacy. Safety data from each group will be reviewed by an independent Safety Review Committee before dose escalation proceeds. The Phase 2 portion of the study will evaluate the efficacy and safety of [Ac-225]-RTX-2358 in up to 50 patients. [Ac-225]-RTX-2358 is being manufactured by Pharmalogic. [Cu-64]-LNTH-1363S is being provided by Lantheus and manufactured by PharmaLogic.

Dr. D’Angelo provides consulting and advisory services to Ratio Therapeutics.

(Press release, Ratio Therapeutics, DEC 16, 2025, https://ratiotx.com/2025/12/16/ratio-therapeutics-has-successfully-dosed-the-first-cohort-in-its-phase-1-2-study-evaluating-a-novel-fap-targeted-radiopharmaceutical-in-patients-with-late-stage-aggressive-sarcomas/ [SID1234661461])

Oncolytics Biotech® Announces Promising Efficacy and Translational Data Supporting Pelareorep in KRAS-Mutant Metastatic Colorectal Cancer

On December 16, 2025 Oncolytics Biotech Inc. (Nasdaq: ONCY) ("Oncolytics" or the "Company"), a clinical-stage immunotherapy company developing pelareorep, reported clinical and translational findings supporting the development of pelareorep in second-line metastatic colorectal cancer ("mCRC"), specifically in patients with KRAS-mutant, microsatellite-stable ("MSS") disease. This represents one of the most difficult-to-treat and least responsive subgroups within colorectal cancer.

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In a previously completed clinical study evaluating pelareorep in combination with standard-of-care therapy, 33% of KRAS-mutant MSS patients achieved an objective response, compared to the well-established historical objective response rate ("ORR") of approximately 6–11% for Avastin (bevacizumab) + FOLFIRI in second-line mCRC.1, 2 In that same study, patients receiving the pelareorep, bevacizumab, and FOLFIRI treatment regimen more than doubled progression-free survival and overall survival compared to those receiving bevacizumab and FOLFIRI (click here for the PR).

In addition to the clinical activity, a separate translational analysis of paired tumor biopsies revealed that treatment with pelareorep led to a notable increase in KRAS-mutant–specific T-cell populations, indicating that pelareorep may directly enhance anti-tumor immune recognition in this genetically defined subgroup. These findings provide strong biological support for pursuing pelareorep as a precision immunotherapy capable of addressing a patient population that rarely benefits from checkpoint inhibitors or other immunotherapies. A complete analysis of the translational data will be presented at an upcoming medical meeting.

"Colorectal cancer is the core of our emerging GI tumor platform strategy for pelareorep, with a projected total addressable market of $20 billion by 2033,"3 said Jared Kelly, Chief Executive Officer of Oncolytics Biotech. "Pelareorep has clearly demonstrated the potential to become a transformational new treatment option in this underserved setting. With translational data supporting its unique activation of KRAS-specific T cells, pelareorep has delivered a 33 percent response rate in KRAS-mutant, MSS colorectal cancer."

Dr. Sanjay Goel, Professor of Medicine at Rutgers Cancer Institute of New Jersey and a leading investigator in GI oncology, commented: "These results are extremely encouraging. Achieving a 33% ORR in KRAS-mutant MSS colorectal cancer is highly unusual in this setting and warrants immediate further study. The translational findings strengthen the mechanistic rationale behind the clinical activity we’re observing. I am eager to move this program into a controlled study to validate the signal and help bring a much-needed therapeutic option to this patient population."

Together, the clinical and mechanistic data support advancing pelareorep into a controlled study in second-line KRAS-mutant MSS mCRC, which the company expects to initiate following consultation with key opinion leaders and regulatory authorities. The planned study is intended to confirm pelareorep’s potential to significantly outperform the current standard-of-care in a controlled setting and establish a new treatment paradigm for KRAS-mutant colorectal cancer. By sponsoring the study instead of pursuing an investigator-sponsored trial, Oncolytics will be able to provide an appropriate level of analytical rigor to support regulatory submissions that could lead to an approval in this indication. Additionally, the Company will have full control over data from the study and will be able to update investors, potential partners, and other stakeholders at its discretion. This change reflects the Company’s heightened interest in and focus on mCRC and pelareorep’s potential as a platform gastrointestinal immunotherapeutic agent.

(Press release, Oncolytics Biotech, DEC 16, 2025, View Source [SID1234661459])

Monte Rosa Therapeutics Announces Compelling Clinical Activity of MRT-2359 in Combination with Enzalutamide in Heavily Pretreated Metastatic Castration-Resistant Prostate Cancer Patients with Androgen Receptor Mutations

On December 16, 2025 Monte Rosa Therapeutics, Inc. (Nasdaq: GLUE), a clinical-stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, reported positive interim data from an ongoing Phase 1/2 clinical study evaluating MRT-2359 in combination with enzalutamide in heavily pretreated patients with metastatic castration-resistant prostate cancer (mCRPC). MRT-2359 is an investigational, orally bioavailable, GSPT1-directed MGD discovered and developed by Monte Rosa.

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"We continue to be highly encouraged by the clinical activity observed with MRT-2359 in combination with enzalutamide in heavily pretreated mCRPC patients, a population with limited therapeutic options, with an overall disease control rate (DCR) of 64%. The responses seen in the subset of patients harboring AR mutations were particularly compelling, with 4 of 4 patients demonstrating a PSA response, including 2 PSA90 responses and 2 PSA50 responses. Two of the 4 patients with AR mutations showed a RECIST response, and the DCR in the AR mutant population was 100%. We believe these results are especially promising given that most of the patients with AR mutations, even more so than in the overall mCRPC trial population, received prior chemotherapy as well as radioligand therapy, or even experimental bispecific antibodies," said Markus Warmuth, M.D., Chief Executive Officer of Monte Rosa Therapeutics. "We were also pleased to see through our biomarker work that MRT-2359 significantly impacted both the MYC and the E2F signaling pathways, suggesting a mechanism of action that is at least in part independent of inhibiting AR signaling, and confirming our preclinical studies. Given these findings and the favorable safety profile observed to date, we believe there is a significant opportunity for MRT-2359 in the rapidly evolving treatment landscape of prostate cancer."

"While the data from the ongoing trial continue to mature, we plan to initiate a new, signal-confirming Phase 2 study, evaluating MRT-2359 in combination with a second-generation AR inhibitor in mCRPC patients with AR mutations," said Filip Janku, M.D., Ph.D., Chief Medical Officer of Monte Rosa Therapeutics. "Data from this study have the potential to confirm MRT-2359’s clinical activity and may position the program for advancement into registrational studies. We also look forward to presenting updated data from the ongoing Phase 1/2 study at the ASCO (Free ASCO Whitepaper) Genitourinary Cancers Symposium conference in February."

The Phase 1/2 study evaluated 0.5 mg and 0.75 mg of MRT-2359 administered orally on a 21-days-on, 7-days-off drug schedule in combination with enzalutamide, an AR inhibitor. The study population as of the data cutoff date of December 3, 2025, included 20 individuals with advanced CRPC who were heavily pretreated, including 15 (75%) previously treated with a second-generation AR inhibitor, 16 (80%) previously treated with taxane chemotherapy, and 11 (55%) previously treated with Pluvicto. For analysis of efficacy, all patients were required to be evaluable for measurable disease and not have acquired neuroendocrine differentiation, as determined by RNAseq from screening biopsies.

Summary of Phase 1/2 Study Results in Metastatic CRPC Patients


All 20 patients enrolled were evaluable for safety.

The combination of MRT-2359 and enzalutamide maintained a favorable safety profile, with manageable, primarily gastrointestinal adverse events that were classified as mild or moderate (Grade 1 or Grade 2).

Of the 20 patients enrolled, 14 patients were evaluable for RECIST (Response Evaluation Criteria in Solid Tumors) and were confirmed to have non-neuroendocrine mCRPC.

Of the 14 evaluable patients, all of whom were assessed for AR alteration status using post hoc ctDNA analysis, 4 were confirmed to have AR mutations, and all 4 of those had PSA responses, including 2 patients with PSA90 responses.

Two RECIST partial responses (1 confirmed partial response and 1 unconfirmed partial response) were seen in the AR mutant subset and the DCR in the AR-mutant setting was 100%.

In addition, 5 patients with wild-type AR or positive for ARV7 transcripts had stable disease per RECIST, several of which were associated with tumor size reductions, resulting in a DCR of 64% (9 of 14) in the overall population of 14 evaluable patients.

Data showed that treatment effects were durable, in particular in patients with AR mutations or naïve to AR inhibitors.

Clinical activity of the combination correlated to both MYC and AR pathway activity in baseline biopsies (as determined by RNAseq), and modulation of MYC, E2F, and AR pathways was seen by RNAseq in paired tumor biopsies.

Monte Rosa plans to present updated data from the Phase 1/2 study of MRT-2359 at the ASCO (Free ASCO Whitepaper) Genitourinary Cancers Symposium in February.

Monte Rosa plans to initiate a Phase 2 study of MRT-2359 in combination with a second-generation AR inhibitor. The study of up to 25 mCRPC patients, utilizing a two-stage design, is designed to efficiently assess the efficacy of MRT-2359 plus an AR inhibitor in mCRPC patients with AR mutations, with potential to expand the study into additional patient subsets, including patients naïve to 2nd generation AR inhibitors, should the activity in the AR mutant patient population confirm. The study will evaluate PSA response, RECIST response, duration of response, progression-free survival (PFS), radiographic progression-free survival (rPFS), and safety. The study is anticipated to start in 2026.

The Phase 1/2 study also included six patients with hormone receptor (HR)+ breast cancer. Data from this population demonstrated a favorable safety profile. However, results did not present sufficient evidence of activity to support further development in this population.

Updated Guidance for MRT-8102

Monte Rosa announced today that it plans to present interim Phase 1 data on MRT-8102 in early 2026. MRT-8102 is a first-in-class, NEK7-directed MGD for inflammatory diseases driven by the NLRP3 inflammasome, IL-1β, and IL-6. The ongoing Phase 1 study includes single-ascending dose/multiple-ascending dose (SAD/MAD) cohorts in healthy volunteers, as well as a Part 3 cohort designed to evaluate potential early proof of concept in subjects at increased CVD risk. The Company has initiated dosing in Part 3 of the study.

Investor Conference Call
Monte Rosa will host a conference call and webcast presentation today, Dec. 16, 2025, at 8:00 a.m. ET. A webcast of the presentation will be accessible via the "Events & Presentations" section of Monte Rosa’s website at ir.monterosatx.com. Registration for the conference call is available at the following link. An archived version of the webcast will be made available for 30 days following the presentation.

About MRT-2359
MRT-2359 is a potent, highly selective, and orally bioavailable investigational molecular glue degrader (MGD) of GSPT1. MYC transcription factors (c-MYC, L-MYC and N-MYC) are well-established drivers of human cancers that maintain high levels of protein translation, which is critical for uncontrolled cell proliferation and tumor growth. Preclinical studies have shown this addiction to MYC-induced protein translation creates a dependency on GSPT1. By inducing degradation of GSPT1, MRT-2359 is designed to exploit this vulnerability, disrupting the protein synthesis machinery, leading to anti-tumor activity in MYC-driven tumors. MRT-2359 is being investigated in an ongoing Phase 1/2 study (clinicaltrials.gov identifier NCT05546268) in solid tumors, including castration-resistant prostate cancer (CRPC). In heavily pretreated CRPC patients, a patient group characterized by widespread expression of c-MYC, MRT-2359 demonstrated encouraging early signals of clinical response.

About MRT-8102
MRT-8102 is a potent, highly selective, and orally bioavailable investigational molecular glue degrader (MGD) that targets NEK7 for the treatment of inflammatory diseases linked to NLRP3, IL-1β, and IL-6 dysregulation. NEK7 has been shown to be required for NLRP3 inflammasome assembly, activation and IL-1β release both in vitro and in vivo. Aberrant NLRP3 inflammasome activation and the subsequent release of active IL-1β and interleukin-18 (IL-18) has been implicated in multiple inflammatory disorders, including cardiovascular disease, gout, osteoarthritis, neurologic disorders including Parkinson’s disease and Alzheimer’s disease, and metabolic disorders. In a non-human primate model, MRT-8102 was shown to potently, selectively, and durably degrade NEK7, and resulted in near-complete reductions of IL-1β and caspase-1 following ex vivo stimulation of whole blood. MRT-8102 has demonstrated a considerable safety margin (>200-fold exposure margin over projected human efficacious dose) in GLP toxicology studies. MRT-8102 is currently being investigated in a Phase 1 study (clinicaltrials.gov identifier NCT07119125) in healthy participants and participants at elevated cardiovascular disease risk.

(Press release, Monte Rosa Therapeutics, DEC 16, 2025, View Source [SID1234661458])