Inhibrx, Inc.

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Ademi LLP is investigating Inhibrx (Nasdaq: INBX) in connection with its transaction with Sanofi.

In the transaction, Inhibrx unitholders will receive only (i) $30.00 per share in cash, (ii) one contingent value right per share, representing the right to receive a contingent payment of $5.00 in cash upon the achievement of a regulatory milestone and (iii) one SEC-registered, publicly listed, share of New Inhibrx per every four shares of Inhibrx common stock held. The transaction agreement unreasonably limits competing transactions for Inhibrx by imposing a significant penalty if Inhibrx accepts a competing bid. Inhibrx insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Inhibrx’s board of directors, and whether they are fulfilling their fiduciary duties to all unitholders.