Welcome to our dedicated page for Io Biotech news (Ticker: IOBT), a resource for investors and traders seeking the latest updates and insights on Io Biotech stock.
IO Biotech was a clinical-stage biopharmaceutical company developing immune-modulatory, off-the-shelf therapeutic cancer vaccines based on its T-win platform. Company news centered on Cylembio, also described as IO102-IO103, clinical data in advanced melanoma and other solid tumors, presentations of preclinical candidates including IO112 and IO170, and updates involving pembrolizumab combination studies.
News about IOBT also covered corporate presentations, financial results, strategic alternatives, cost-containment actions and workforce reductions before the company's Chapter 7 bankruptcy filing and cessation of operations.
IO Biotech has announced the initiation of a Phase 2 clinical trial to evaluate the safety and efficacy of its lead candidate, IO102-IO103, in combination with KEYTRUDA (pembrolizumab) for treating metastatic non-small cell lung cancer, squamous cell carcinoma of the head and neck, and metastatic urothelial bladder cancer. This collaboration with Merck follows previous successful trials and aims to expand on the candidate's potential utility across multiple tumor types. IO Biotech retains global commercial rights to IO102-IO103.
IO Biotech has successfully closed its initial public offering (IPO), issuing 8,222,500 shares at $14.00 each, raising approximately $115.1 million before expenses. This includes the underwriters’ full option to purchase an additional 1,072,500 shares. The shares began trading on the Nasdaq under the symbol IOBT on November 5, 2021. Morgan Stanley, Jefferies, and Cowen acted as joint lead managers for the offering. The funds raised will support the development of IO Biotech's novel cancer therapies based on its T-win® technology.
IO Biotech announced the pricing of its initial public offering (IPO) of 7,150,000 shares at $14.00 per share, totaling approximately $100.1 million before fees. Trading is set to begin on Nasdaq under the symbol IOBT on November 5, 2021, with the offering closing expected on November 9, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to purchase up to 1,072,500 additional shares. The offering is led by Morgan Stanley, Jefferies, and Cowen.