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 presented preclinical data for two new pipeline candidates targeting the immunosuppressive effects of Arginase-1 (ARG1) and Transforming Growth Factor Beta 1 (TGFβ1) during the SITC 37th Annual Meeting on November 10-11, 2022. CEO Mai-Britt Zocca highlighted promising results from the Phase 1/2 study of their lead asset, IO102-103, confirming efficacy in treating metastatic melanoma. The company plans to file Investigational New Drug applications for the new candidates in 2023, indicating ongoing progress in their clinical studies.
IO Biotech announced key developments in its clinical trials and financial performance for Q3 2022. The global Phase 3 trial of IO102-IO103 with KEYTRUDA® has seen a significant increase in site activations, from 19 to 55 over three months, indicating strong patient enrollment potential. The Phase 1/2 study reports a median overall survival of 46.8 months and a complete response rate of 50%. The company ended the quarter with $151.2 million in cash, ensuring funding for upcoming data readouts into mid-2024. However, net losses for the quarter increased to $16.1 million.
IO Biotech (Nasdaq: IOBT) announced a fourth clinical trial collaboration with Merck to evaluate IO102-IO103 combined with KEYTRUDA® in patients with resectable tumors. This multicenter trial aims to assess anti-tumor activity and safety in neoadjuvant and adjuvant settings. The study will investigate pathologic tumor response and overall survival. IO Biotech holds global rights for IO102-IO103, which has shown early clinical promise in melanoma. The company is also conducting a Phase 3 trial for first-line melanoma treatment with KEYTRUDA®.
IO Biotech (Nasdaq: IOBT) announced that CEO Mai-Britt Zocca, Ph.D., and CFO Amy Sullivan will participate in the Jefferies London Healthcare Conference from November 15-17, 2022. They will discuss the company's innovative cancer therapies based on the T-win® technology platform and provide updates on the lead program IO102-103, currently in Phase 3 for metastatic melanoma. Early data from a Phase 2 study is expected by year-end. The fireside chat is scheduled for November 15, 2022, from 7:25-7:55 a.m. EST.
IO Biotech (Nasdaq: IOBT) appointed Amy Sullivan as its new Chief Financial Officer. With over 25 years in the life sciences sector, Sullivan's expertise includes capital raising and corporate management. She previously served as CFO at TABA and played a critical role at Kiadis Pharma, overseeing fundraising and the company's sale to Sanofi. President Mai-Britt Zocca expressed confidence in Sullivan's ability to contribute to the company's growth and promising pipeline of cancer immunotherapies, particularly leveraging the T-win technology platform.
IO Biotech (Nasdaq: IOBT) announced its participation in the Society for Immunotherapy of Cancer’s 37th Annual Meeting (SITC 2022) from November 8-12, 2022. The company will present an oral update on its Phase 1/2 study (MM1636) involving IO102-103 and nivolumab for metastatic melanoma. This study has led to FDA Breakthrough Therapy Designation for a subsequent Phase 3 trial with pembrolizumab. Additionally, two poster presentations will showcase preclinical data on new candidates targeting Arginase 1 and TGF-β1.
On September 6, 2022, IO Biotech (Nasdaq: IOBT) announced that President and CEO Mai-Britt Zocca will participate in a fireside chat and investor meetings at the Morgan Stanley 20th Annual Global Healthcare Conference from September 12 to 14, 2022. The fireside chat is scheduled for September 14 at 8:35 a.m. ET. Investors can access the webcast via the provided link, and a replay will be available for 180 days on the company’s website. IO Biotech is focused on developing immune-modulating cancer therapies using its T-win® technology platform.
IO Biotech initiated its Phase 3 trial combining IO102-IO103 with KEYTRUDA® as a first-line treatment for advanced melanoma, also starting a Phase 2 basket trial. Recent ASCO presentations highlighted promising results in ongoing trials. Financially, the company reported a Q2 net loss of $18.5 million, which is an improvement from $38.4 million a year earlier. R&D expenses rose to $12.2 million, driven by increased clinical activities. With $170.1 million in cash, IO Biotech has sufficient runway to support operations through mid-2024.
IO Biotech (Nasdaq: IOBT) will participate in the 2022 BIO International Convention from June 13-16 in San Diego, California. Chief Scientific Officer Muhammad Al-Hajj, Ph.D., will present a panel discussion titled "Early Scientific and Clinical Strategy for Optimizing Value Inflection in Oncology Financing and Dealmaking" on June 13 at 1:00 pm local time. IO Biotech is focused on developing immune-modulating cancer therapies using its T-win® technology platform, including its lead candidate, IO102-IO103, targeting IDO and PD-L1.
IO Biotech (Nasdaq: IOBT) announced two poster presentations at the ASCO Annual Meeting 2022, showcasing clinical trials involving its investigational agent IO102-IO103 in combination with pembrolizumab for metastatic solid tumors and melanoma. The first is a Phase 3 trial on untreated, unresectable melanoma, while the second is a Phase 2 study targeting metastatic non-small cell lung cancer and other cancers. IO102-IO103 aims to counter immunosuppressive mechanisms through IDO and PD-L1 targeting. The presentations will occur from June 5-6, 2022, in Chicago.
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