Issue 011 | U.S. Pilot | US

INAB

IN8BIO, INC.

Screen state: Passing Source state: Verified 10-Q | 2026-05-07 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 38.4%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 22,662,000USD
Total Liabilities: 3,484,000USD
NCAV: 19,178,000USD
Cash: 21,941,000USD
NCAV per share: 1.53USD/share
Evidence: 5 annual | 20 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated: 12
Triggered: 3
Unavailable: 7

Requires inspection High NCAV Burn since the previous filing 19,178,000

Latest: 19,178,0002026-03-31
Comparison: 23,156,0002025-12-31
Change: -17.2%

Basis: NCAV burn since previous filing >= 10%; previous NCAV must be positive

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-212135; REPORTED_FILING 10-K 2025-12-31

Requires inspection Negative OCF -4,947,000

Latest: -4,947,0002026-03-31
Comparison: n/a
Change: n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-212135

Supporting observation Current Ratio > 1.5 10.5

Latest: 10.52026-03-31
Comparison: 1.5
Change: n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-212135

7 unavailable checks — inspect missing inputs

High Debt (short-term debt + long-term debt) / ordinary equity >= 50%

Low Debt (short-term debt + long-term debt) / ordinary equity < 20%

Material 1Y Share Increase 1Y share change >= +2% using the same share-count source

NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive

No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source

Non-Positive Equity ordinary shareholders equity <= 0

Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible in the details.

business_profile_v1

Business profile: 0 of 12 fields established by the current extractor.

Business Profile Field Details

Business Description

Missing Source

Not established by the current extractor from the selected filing context.

Revenue Model

Missing Source

Not established by the current extractor from the selected filing context.

Customers And Channels

Missing Source

Not established by the current extractor from the selected filing context.

Segments And Geography

Missing Source

Not established by the current extractor from the selected filing context.

Tangible Operations Assets

Missing Source

Not established by the current extractor from the selected filing context.

Value Chain

Missing Source

Not established by the current extractor from the selected filing context.

Competition Positioning

Missing Source

Not established by the current extractor from the selected filing context.

Business Lifecycle Cyclicality

Missing Source

Not established by the current extractor from the selected filing context.

Strategy And Capital Allocation

Missing Source

Not established by the current extractor from the selected filing context.

Management Governance Signals

Missing Source

Not established by the current extractor from the selected filing context.

Disclosed Risks

Missing Source

Not established by the current extractor from the selected filing context.

Known Unknowns

Missing Source

Not established by the current extractor from the selected filing context.

Business Profile Sources

Source	Filing	Date	Type	Status	Provenance
S1	0001193125-25-269447	2025-11-06	10-Q	Missing Source	Data Vault \| sec/cleaned/cik=0001740279/accession=0001193125-25-269447/parser=html-cleaner-v1/full.txt

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2025-12-31 10-K USD	2024-12-31 10-K USD	2023-12-31 10-K USD	2022-12-31 10-K USD	2021-12-31 10-K USD
Revenue	n/a	n/a	n/a	n/a	n/a
Operating Income	-19,440,000	-30,437,000	-30,337,000	-28,521,000	-14,653,000
Net Income	-19,440,000	-30,437,000	-30,007,000	-28,521,000	-14,653,000
Cash From Operations	-12,712,000	-24,149,000	-23,340,000	-24,121,000	-13,509,000
Capex	n/a	n/a	n/a	n/a	n/a
Free Cash Flow	n/a	n/a	n/a	n/a	n/a
Cash And Equivalents	27,312,000	11,386,000	21,538,000	18,434,000	37,272,000
Accounts Receivable	n/a	n/a	n/a	n/a	n/a
Inventory	n/a	n/a	n/a	n/a	n/a
Total Current Assets	27,880,000	12,578,000	24,625,000	22,234,000	38,980,000
Total Assets	32,282,000	20,944,000	33,709,000	33,039,000	42,223,000
Total Current Liabilities	3,161,000	3,083,000	5,393,000	5,822,000	2,256,000
Total Liabilities	4,724,000	6,466,000	8,772,000	10,307,000	4,040,000
Shareholders Equity	27,558,000	14,478,000	24,937,000	22,732,000	38,183,000
Shares Outstanding	9,766,132	2,416,066	1,442,911	831,269	627,076
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	4,374,328	1,784,890	995,498	698,932	332,324
Weighted Avg Shares Basic	4,374,328	1,784,890	995,498	698,932	332,324
Net Share Count Change (Normalized)	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence
Ownership Claim Change (Normalized)	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric	2026-06-30 10-Q USD	2026-03-31 10-Q USD	2025-12-31 10-K USD	2025-09-30 10-Q USD	2025-06-30 10-Q USD	2025-03-31 10-Q USD	2024-12-31 10-K USD	2024-09-30 10-Q USD	2024-06-30 10-Q USD	2024-03-31 10-Q USD	2023-12-31 10-K USD	2023-09-30 10-Q USD	2023-06-30 10-Q USD	2023-03-31 10-Q USD	2022-12-31 10-K USD	2022-09-30 10-Q USD	2022-06-30 10-Q USD	2022-03-31 10-Q USD	2021-09-30 10-Q USD	2021-06-30 10-Q USD
Revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating Income	-4,781,000	-5,090,000	-4,942,000	-3,854,000	-5,094,000	-5,550,000	-6,160,000	-7,086,000	-8,629,000	-8,562,000	-7,928,000	-7,169,000	-7,715,000	-7,525,000	-7,798,000	-7,399,000	-7,179,000	-6,145,000	-3,391,000	-3,050,000
Net Income	-4,781,000	-5,090,000	-4,942,000	-3,854,000	-5,094,000	-5,550,000	-6,160,000	-7,086,000	-8,629,000	-8,562,000	-7,598,000	-7,169,000	-7,715,000	-7,525,000	-7,798,000	-7,399,000	-7,179,000	-6,145,000	-3,391,000	-3,050,000
Cash From Operations	-3,745,000	-4,947,000	-2,139,000	-3,524,000	-3,927,000	-3,122,000	-4,028,000	-6,111,000	-6,091,000	-7,919,000	-4,850,000	-5,713,000	-5,338,000	-7,439,000	-7,949,000	-5,741,000	-5,872,000	-4,559,000	-6,365,000	n/a
Capex	n/a	n/a	n/a	0	0	0	n/a	0	-21,000	-50,000	n/a	0	-36,000	-371,000	n/a	-39,000	-1,000	-8,000	n/a	n/a
Free Cash Flow	n/a	n/a	n/a	-3,524,000	-3,927,000	-3,122,000	n/a	-6,111,000	-6,112,000	-7,969,000	n/a	-5,713,000	-5,374,000	-7,810,000	n/a	-5,780,000	-5,873,000	-4,567,000	n/a	n/a
Cash And Equivalents	n/a	22,161,000	n/a	10,962,000	13,497,000	12,157,000	n/a	4,260,000	10,476,000	13,271,000	n/a	13,108,000	17,246,000	11,113,000	n/a	27,899,000	25,994,000	32,358,000	40,675,000	11,999,000
Total Current Assets	18,496,000	22,662,000	27,880,000	11,768,000	13,741,000	12,725,000	12,578,000	6,703,000	12,682,000	n/a	24,625,000	16,549,000	19,465,000	14,402,000	22,234,000	29,654,000	26,999,000	33,274,000	43,877,000	12,167,000
Total Liabilities	3,382,000	3,484,000	4,724,000	3,579,000	4,132,000	5,992,000	6,466,000	7,378,000	8,875,000	n/a	8,772,000	8,450,000	7,919,000	7,890,000	10,307,000	8,819,000	4,420,000	3,703,000	4,096,000	3,903,000
Shares Outstanding	9,858,383	9,847,089	9,766,132	154,480	151,324	2,708,625	2,416,108	2,416,108	1,559,565	1,470,798	1,442,911	1,066,371	1,053,372	991,678	831,269	816,739	627,949	627,949	625,152	625,152
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	19,467,091	19,467,114	4,374,328	151,256	137,305	2,782,738	2,608,343	1,577,380	1,504,202	1,442,911	1,152,744	1,051,526	949,078	824,419	817,023	722,051	627,623	626,685	445,923	125,483
Weighted Avg Shares Basic	19,467,091	19,467,114	4,374,328	151,256	137,305	2,782,738	2,608,343	1,577,380	1,504,202	1,442,911	1,152,744	1,051,526	949,078	824,419	817,023	722,051	627,623	626,685	445,923	125,483
Net Share Count Change (Normalized)	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence
Ownership Claim Change (Normalized)	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	18,496,000USD	us-gaap:AssetsCurrent	2026-06-30	1.00	Data Vault \| sec/companyfacts/cik=0001740279/companyfacts.json Data Vault \| sec/companyfacts/cik=0001740279/companyfacts.json
Total Liabilities	3,382,000USD	us-gaap:Liabilities	2026-06-30	1.00	Data Vault \| sec/companyfacts/cik=0001740279/companyfacts.json Data Vault \| sec/companyfacts/cik=0001740279/companyfacts.json
Cash	n/a	derived	2026-06-30	n/a	n/a
Shares Outstanding	9,858,383	dei:EntityCommonStockSharesOutstanding	2026-06-30	1.00	Data Vault \| sec/companyfacts/cik=0001740279/companyfacts.json Data Vault \| sec/companyfacts/cik=0001740279/companyfacts.json
NCAV	15,114,000USD	derived	2026-06-30	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	1.53USD	derived	2026-06-30	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	38.4%	derived	2026-06-30	n/a	gnni_publication_pack \| internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source: Data Vault
Data Vault Root: n/a
CIK: 0001740279
Company ID: n/a
Selected Annual Source: n/a
Selected Quarterly Source: n/a
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 22
Imported At: 2026-09-27T07:58:32+00:00
Rendered At: 2026-10-04T14:25:29+00:00

Run Audit

Mary Run: 46fa99a7f99148a3b9d5785521a8835b
Mary As Of: 2026-09-26
Accession: 0001193125-26-212135
CIK: 0001740279
Mary Filing Date: 2026-05-07
Filing Currency: USD
Internal Discount: 38.4%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=46fa99a7f99148a3b9d5785521a8835b; mary_as_of=2026-09-26; mary_filing_date=2026-05-07; mary_accession=0001193125-26-212135; mary_cik=0001740279; gnni_supporting_filing_date=2026-05-07; internal_discount=0.383851; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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