Instil Bio, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | — | — | — | — | $0 |
| Research and development | $24.7M | $11.8M | $39.6M | $141.1M | $107.3M |
| Operating expenses | $78.6M | $73.5M | $159.2M | $226.5M | $155.6M |
| Operating income | -$78.6M | -$73.5M | -$159.2M | -$226.5M | -$155.6M |
| Interest expense | $5.8M | $9.0M | $5.2M | $1.9M | $0 |
| Pretax income | -$71.4M | -$74.1M | -$156.1M | -$225.2M | -$156.8M |
| Income tax expense | $0 | — | $0 | -$2.1M | $39,000 |
| Net income | -$71.4M | -$74.1M | -$156.1M | -$223.2M | -$156.8M |
| Balance Sheet | |||||
| Cash and equivalents | $6.6M | $8.8M | $9.2M | $43.7M | $37.6M |
| Current assets | $191.4M | $124.5M | $160.8M | $269.4M | $464.0M |
| Total assets | $203.5M | $263.6M | $325.6M | $482.1M | $610.0M |
| Current liabilities | $4.8M | $7.9M | $10.6M | $32.8M | $41.4M |
| Total liabilities | $89.7M | $94.1M | $99.8M | $118.5M | $54.8M |
| Stockholders' equity | $113.9M | $169.4M | $225.8M | $363.6M | $555.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$36.6M | -$55.7M | -$82.0M | -$180.2M | -$122.1M |
| Depreciation and amortization | $534,000 | $3.6M | $4.8M | $6.0M | $2.8M |
| Stock-based compensation | $8.7M | $17.3M | $18.2M | $30.4M | $26.2M |
| Capital expenditure | — | $0 | $20.7M | $84.6M | $57.8M |
| Free cash flow | — | -$55.7M | -$102.7M | -$264.8M | -$180.0M |
| Impairments | — | $4.3M | $0 | $15.8M | $0 |
Shares outstanding 6.8M · Free float 100.0%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.