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, Inc. (IOBT) is a clinical-stage biopharmaceutical company dedicated to developing innovative immune therapies for treating cancer. Their focus is on creating first-in-class immune-modulating anti-cancer treatments based on a groundbreaking platform technology. This platform enables the activation of T cells that specifically target immune inhibitory molecules.
IO Biotech has a robust pipeline featuring two leading immune-modulating therapies, IDO and PD-L1, which are currently in clinical development. Additionally, several other compounds are nearing the end of the preclinical phase. The company's proven track record in advancing compounds to the clinical stage underscores their expertise and commitment to innovation in cancer treatment.
The company's product candidates utilize the T-win technology platform, designed to trigger the immune system to attack and disrupt multiple pathways that regulate tumor-induced immunosuppression. This unique approach aims to enhance the body's natural ability to fight cancer, offering a promising avenue for patients battling this disease.
With an experienced management team and a world-class advisory board, IO Biotech is well-positioned in the field of immuno-oncology. Recent achievements include the advancement of their pivotal Phase 3 Clinical Trial (IOB-013/KN-D18) and significant progress with their drugs IO102 and IO103. The company’s dedication to cutting-edge research and development is evident through their continuous efforts in preclinical and clinical trials.
For the latest updates and detailed information about IO Biotech, their therapies, ongoing projects, and financial condition, visit their official website or contact Maryann Cimino, Director of Investor Relations, at mci@iobiotech.com.
IO Biotech (IOBT) has secured a loan facility of up to €57.5 million from the European Investment Bank (EIB) to advance its therapeutic cancer vaccines development. The facility includes three committed tranches totaling €37.5 million and an uncommitted accordion tranche of €20 million. The first two tranches are expected to be available in Q1 2025.
The unsecured loan has no minimum cash covenants and will extend the company's cash runway into Q2 2026. The facility includes warrants issuance to EIB for each tranche, with 6-year maturity terms and deferred payments. Tranche C requires raising an additional $50 million and submitting a marketing authorization application for IO102-IO103 in the U.S. or EU.
IO Biotech (IOBT) reported Q3 2024 financial results and business updates. The company's pivotal Phase 3 trial of IO102-IO103 cancer vaccine in combination with KEYTRUDA® for advanced melanoma is on track, with primary endpoint data expected in H1 2025. The company reported a net loss of $24.0 million for Q3 2024, compared to $21.7 million in Q3 2023. R&D expenses increased to $20.2 million, up from $17.7 million year-over-year. Cash position stands at $80.2 million, expected to support operations into Q4 2025.
IO Biotech (IOBT), a clinical-stage biopharmaceutical company focused on developing immune-modulating therapeutic cancer vaccines, has announced its participation in two major investor conferences. The company will attend the Jefferies London Healthcare Conference on November 20, 2024, with one-on-one meetings led by CEO Mai-Britt Zocca and CFO Amy Sullivan. Additionally, CEO Mai-Britt Zocca will participate in a fireside chat at the Piper Sandler 36th Annual Healthcare Conference in New York on December 3, 2024, at 11:00 am ET. A webcast replay of the Piper Sandler presentation will be available on IO Biotech's website for 90 days.
IO Biotech announced promising Phase 2 results for its cancer vaccine IO102-IO103 combined with KEYTRUDA® in first-line metastatic lung cancer treatment. The study showed a 55% unconfirmed/48% confirmed overall response rate and 81% disease control rate in NSCLC patients. About 50% of patients showed no disease progression at 12 months, with median progression-free survival of 8.1 months. The safety profile remained consistent with previous studies, mainly showing low-grade injection site reactions. The company also presented pre-clinical data for IO112, their second T-win vaccine candidate targeting arginase 1, demonstrating anti-tumor activity.
IO Biotech (Nasdaq: IOBT) announced two poster presentations at the Society for Immunotherapy of Cancer's 39th Annual Meeting (SITC 2024) in Houston, Texas on November 8-10, 2024. The first poster will present updated data from the complete cohort (n=31) of PD-L1 high metastatic non-small cell lung cancer (NSCLC) patients in the Phase 2 basket trial of IO102-IO103 combined with pembrolizumab. The second poster will showcase new pre-clinical data for IO112, targeting Arginase 1. Dr. Jonathan W. Riess from UC Davis will present the NSCLC data, while IO Biotech scientists will present the IO112 data. Both posters will be displayed on November 9, 2024, at the George R. Brown Convention Center and will be available on IO Biotech's website.
IO Biotech (Nasdaq: IOBT) announced positive results from its Phase 2 trial of IO102-IO103, a therapeutic cancer vaccine, in combination with Merck's KEYTRUDA® for advanced head and neck cancer. The study met its primary endpoint with a 44.4% overall response rate in PD-L1 high patients. Key findings include:
- 6.6-month median progression-free survival
- 66.7% disease control rate
- Safety profile consistent with previous data
- T-cell responses detected for both IO102 and IO103
The trial enrolled patients with recurrent or metastatic squamous cell carcinoma of the head and neck (SCCHN) with PD-L1 CPS ≥ 20. These results support further investigation of the combination as a potential first-line treatment for metastatic and difficult-to-treat cancers.
IO Biotech (Nasdaq: IOBT) announced that the Independent Data Monitoring Committee (IDMC) recommended the continuation of its pivotal Phase 3 trial for IO102-IO103, a novel therapeutic cancer vaccine, in combination with KEYTRUDA® (pembrolizumab) for advanced melanoma. Key points:
1. No new safety signals observed
2. Primary endpoint of progression-free survival (PFS) projected for first half of 2025
3. Trial powered at 89% to detect a 35% reduction in event risk
4. 407 patients randomized
5. Interim analysis did not meet criteria for superiority in overall response rate (ORR)
6. Company remains optimistic based on Phase 1/2 results showing 25.5 months median PFS
IO Biotech also reported promising preliminary data from a Phase 2 basket trial in NSCLC and SCCHN, with upcoming presentations at medical conferences.
IO Biotech (Nasdaq: IOBT), a clinical-stage biopharmaceutical company developing novel, immune-modulating therapeutic cancer vaccines, has announced its participation in two upcoming investor conferences. The company's senior management will provide corporate updates and engage in one-on-one meetings at these events:
1. Morgan Stanley 22nd Annual Global Healthcare Conference in New York on September 4, 2024. CEO Mai-Britt Zocca, PhD, will participate in a fireside chat at 5:35 pm ET.
2. H.C. Wainwright 26th Annual Global Investment Conference in New York on September 9, 2024. CFO Amy Sullivan will present at 10:30 am ET.
Webcasts of both presentations will be available on IO Biotech's website for 90 days following the events.
IO Biotech (Nasdaq: IOBT) reported Q2 2024 financial results and business highlights. Key points include:
1. Phase 3 interim analysis for IO102-IO103 in advanced melanoma expected in Q3 2024.
2. Completed enrollment in Phase 2 trials for NSCLC and SCCHN.
3. Data from SCCHN cohort accepted for ESMO 2024 presentation.
4. Ended Q2 with $100.7 million in cash, expected to support operations into Q4 2025.
5. Net loss of $20.7 million for Q2 2024, compared to $21.2 million in Q2 2023.
6. R&D expenses decreased to $15.8 million from $16.5 million year-over-year.
7. G&A expenses increased to $5.7 million from $5.3 million year-over-year.
IO Biotech (Nasdaq: IOBT) announced that an abstract on their lead therapeutic cancer vaccine candidate, IO102-IO103, has been accepted for poster presentation at the ESMO Congress 2024. The presentation will showcase data from a completed cohort of squamous cell carcinoma of the head and neck (SCCHN) patients in a Phase 2 basket trial combining IO102-IO103 with pembrolizumab.
The poster, titled 'A phase 2 trial of the IO102-IO103 vaccine plus pembrolizumab: completed cohort for first line (1L) treatment of advanced Squamous Cell Carcinoma of the Head and Neck (SCCHN)', will be presented on September 14, 2024, at the congress in Barcelona. This data represents a significant step in exploring IO102-IO103's potential across various solid tumors with high unmet medical needs.
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