IO Biotech, Inc. - IOBT STOCK NEWS

IO Biotech has dosed the first patient in the Phase 3 IOB-013 / KN-D18 trial for IO102-IO103, a cancer immunotherapy targeting advanced melanoma. This trial, initiated in collaboration with Merck, evaluates the drug in combination with KEYTRUDA and aims for a total enrollment of 300 patients across the US, Australia, and Europe. The treatment has received FDA Breakthrough Designation and builds on promising earlier trial results, including an overall response rate of 80% and a complete response rate of 43% in Phase 1/2 studies.

IO Biotech (Nasdaq: IOBT) announced its Q1 2022 financial results, reporting a net loss of $17.2 million compared to $3.7 million in Q1 2021. The firm is advancing its immune-modulating cancer therapies, notably initiating a Phase 2 trial of IOB102-IO103 in combination with KEYTRUDA® for first-line treatment. Updated efficacy data from the MM1636 trial indicated a three-year survival probability of 73% for metastatic melanoma patients using IO102-IO103 with nivolumab. The company maintains a healthy balance sheet with approximately $188 million in cash to fund operations into mid-2024.

IO Biotech (Nasdaq: IOBT) announced the upcoming KOL webinar titled A New Way to Kill Tumors on April 28, 2022, featuring leading experts discussing the treatment landscape for metastatic melanoma. The webinar will cover IO Biotech's investigational therapies, IO102-IO103, which have received FDA breakthrough therapy status following the promising results of the MM1636 Phase 1/2 trial involving 30 patients. These therapies target IDO and PD-L1 to enhance cancer immunotherapy efficacy.

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.