Io Biotech, Inc. Stock Price, News & Analysis

On April 12, 2022, IO Biotech (Nasdaq: IOBT) announced the dosing of the first patient in its Phase 2 IOB-022 / KN-D38 trial for metastatic non-small cell lung cancer (NSCLC). This trial evaluates IO102-IO103 in combination with KEYTRUDA® (pembrolizumab) for various tumor types. The study aims to progress IO Biotech's late-stage development program and explores the potential of its lead candidate across multiple cancer indications. IO102-IO103 previously received Breakthrough Therapy Designation for melanoma treatment based on Phase 1/2 clinical trial results.

IO Biotech recently presented updated data from its MM1636 Phase 1/2 clinical trial at the AACR conference, showcasing promising results for its IO102-IO103 treatment in metastatic melanoma. The trial revealed a three-year survival probability of 73% for patients treated with IO102-IO103 in combination with nivolumab. Key findings included a median progression-free survival of 25.3 months and a confirmed overall response rate of 73%. The data suggests significant clinical efficacy, particularly among poor prognosis patients, with manageable immune-related adverse events.

IO Biotech reported significant progress in 2021, focusing on its lead asset IO102-IO103 for metastatic melanoma. Notable highlights include the publication of high response rate data from the Phase 1/2 study and the initiation of a global Phase 3 trial in collaboration with Merck's KEYTRUDA®. Financially, the company experienced a net loss of $67.9 million, largely due to increased research and development expenses. However, IO Biotech maintains a strong cash position of $211.5 million, ensuring funding through mid-2024 for multiple data readouts.

IO Biotech (Nasdaq: IOBT) announced that new data from its MM1636 Phase 1/2 clinical trial on IO102-IO103, in combination with nivolumab, will be presented at the AACR conference from April 8-13, 2022. The trial, involving 30 patients with metastatic melanoma, focuses on assessing safety and efficacy, especially in poor prognosis patients. The abstract will be accessible on April 8. IO Biotech aims to innovate cancer therapies via its T-win® technology platform, currently advancing multiple candidates in clinical studies.

IO Biotech (Nasdaq: IOBT) announced its participation in the 42nd Annual Cowen Health Care Conference, occurring virtually from March 7-9, 2022. CEO Dr. Mai-Britt Zocca will engage in the Novel IO Panel Discussion on March 7 at 10:30 AM EST. A webcast of the panel will be accessible via the company's website until April 9, 2022. IO Biotech focuses on developing immune-modulating cancer therapies through its T-win® technology platform, with ongoing clinical studies for its lead candidate, IO102-IO103.

IO Biotech has appointed David V. Smith, an experienced biotech executive, to its Board of Directors. Smith, who has over 30 years in executive and financial roles, will also serve on the Audit Committee. CEO Mai-Britt Zocca praised Smith’s expertise in guiding biotech companies and his strong financial background. Smith expressed enthusiasm about joining IO Biotech, highlighting its promising late-stage pipeline of immune-modulating cancer therapies and solid financial position. IO Biotech focuses on developing innovative cancer therapies using its proprietary T-win® technology platform.

IO Biotech announced the publication of Phase 1/2 MM1636 trial results in Nature Medicine, following prior FDA breakthrough therapy designation for their investigational combination of IO102-IO103 with an anti-PD-1 monoclonal antibody for melanoma treatment. The trial involved 30 patients and demonstrated a high response rate. CEO Mai-Britt Zocca highlighted the publication as a pivotal milestone, reinforcing the potential of its T-win^® technology platform. The combination aims to shift cancer management strategies in treating solid tumors.

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.