Io Biotech, Inc. Stock Price, News & Analysis

IO Biotech (Nasdaq: IOBT) announced on Jan 21, 2026 that its Board has initiated a review to explore a range of strategic alternatives to maximize stockholder value. Options under consideration include a merger, business combination, sale of assets, other strategic transaction, or liquidation and dissolution. The company said it is evaluating a further reduction-in-force and other measures to significantly reduce operating expenses while the review is ongoing. No timetable has been set, no agreement has been reached, and the company does not expect to disclose developments unless the Board determines disclosure is appropriate or required.

IO Biotech (Nasdaq: IOBT) announced publication in Nature Communications of five-year clinical and immunological outcomes from the Phase 1/2 MM1636 trial of the peptide vaccine IO102-IO103 combined with PD-1 blockade in first-line metastatic melanoma dated Dec 15, 2025. Key results included a median progression-free survival of 25.5 months, a median duration of response of more than 53 months, and a median overall survival of 60 months. The data identified potential vaccine-specific immune biomarkers not seen with anti-PD-1 monotherapy and supported an FDA Breakthrough Therapy Designation and initiation of the Phase 3 trial IOB-013/KN-D18.

These long-term findings are presented as rationale for integrating immune-modulatory vaccination into immunotherapy regimens and for exploring potential pan-tumor activity.

IO Biotech (Nasdaq: IOBT) announced participation in two December 2025 investor conferences: the 8th Annual Evercore Healthcare Conference in Coral Gables, Florida on December 2, 2025, and the Piper Sandler 36th Annual Healthcare Conference in New York on December 3, 2025.

Mai-Britt Zocca, PhD, President & CEO, and Amy Sullivan, CFO, will take part in fireside chats and one-on-one investor meetings at both events. Webcasts will be available live and archived under the company’s Investors "News and Events" page for approximately 90 days. Provided webcast links are included for each event.

IO Biotech (Nasdaq: IOBT) reported Q3 2025 results and business highlights on Nov 14, 2025.

Clinical: Phase 3 IOB-013 (Cylembio + pembrolizumab) showed a clinically relevant improvement in PFS across the overall population and most subgroups but narrowly missed statistical significance on the primary PFS endpoint; an FDA meeting is scheduled in December to align on a potential new Phase 3 registrational trial. Preclinical data for IO112 (arginase 1) and IO170 (TGF-β) were presented.

Financial: Q3 operating expenses were $19.4M; cash and cash equivalents were $30.7M as of Sept 30, 2025, expected to fund operations through Q1 2026.

IO Biotech (Nasdaq: IOBT) announced that senior management will present at two investor conferences in late 2025: the Jefferies Global Healthcare Conference in London on Tuesday, November 18, 2025 at 3:00 PM GMT and the Piper Sandler 36th Annual Healthcare Conference in New York on Wednesday, December 3, 2025 at 3:00 PM ET. Mai-Britt Zocca, PhD, President & CEO, is the scheduled presenter for both sessions.

Live webcasts will be available via the provided conference links, and replays of both the Jefferies presentation and the Piper fireside chat will be hosted on IO Biotech’s website for 90 days following each presentation.

IO Biotech (Nasdaq: IOBT) presented pre-clinical data at the Society for Immunotherapy of Cancer (SITC) 40th Annual Meeting (Nov 5-9, 2025) for two next T-Win® vaccine candidates: IO112 (arginase 1) and IO170 (TGF-β).

IO112 vaccination elicited robust Arg1-specific T cells, reprogrammed immunosuppressive myeloid cells including tumor-associated macrophages, and demonstrated tumor growth inhibition. IO170 peptide vaccination induced TGF-β–specific T cells, showed tumor growth inhibition, and reduced lung metastases in pre-clinical models. The company expects to file an IND for IO112 in 2026. Poster details and presenters were provided for Nov 7–8, 2025 sessions at SITC.

IO Biotech (NASDAQ: IOBT) reported Phase 3 results for Cylembio plus KEYTRUDA in first-line advanced melanoma showing a clinically relevant median PFS of 19.4 months vs 11.0 months for pembrolizumab alone (HR 0.77; 95% CI 0.58–1.00; p=0.0558), narrowly missing the prespecified statistical threshold (p≤0.045).

Benefits favored the combination across most subgroups, notably PD-L1–negative (16.6 vs 3.0 months; HR 0.54), BRAFV600-mutated tumors (HR 0.60), and elevated LDH (HR 0.60). Safety was comparable with no increase in immune-mediated AEs or grade ≥3 treatment-related events.

IO Biotech (NASDAQ:IOBT) received a setback as the FDA recommended against submitting a Biologics License Application (BLA) for Cylembio based on the IOB-013 clinical trial data. The trial, which evaluated Cylembio plus pembrolizumab, showed improved progression-free survival (PFS) but narrowly missed statistical significance.

The company plans to design a new registrational study and will continue discussions with FDA and European regulators. In response, IO Biotech is implementing a restructuring plan, including a 50% workforce reduction. The company expects to incur a $1.0-$1.5 million restructuring charge in Q3 2025 and has capital to operate into Q1 2026.

IO Biotech (Nasdaq: IOBT) announced that its late-breaking abstract has been selected for oral presentation at the 2025 ESMO Congress in Berlin. The presentation will showcase results from their Phase 3 trial evaluating IO102-IO103 cancer vaccine plus pembrolizumab versus pembrolizumab monotherapy in first-line advanced melanoma.

Additionally, the company will present a poster featuring final data from their Phase 2 basket trial, including efficacy, safety, and survival data for first-line treatment in non-small cell lung cancer (NSCLC) and squamous cell carcinoma of head and neck (SCCHN). The presentations are scheduled for October 19-20, 2025, with Prof. Jessica Hassel delivering the oral presentation and Dr. Jonathan W. Riess presenting the poster.