IO Biotech, Inc. - IOBT STOCK NEWS

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.

IO Biotech (Nasdaq: IOBT) announces participation in the Jefferies Global Healthcare Conference scheduled for June 8-10, 2022, in New York City. CEO Mai-Britt Zocca will hold one-on-one investor meetings and present on June 8, 2022, from 8:30 to 8:55 a.m. ET. A live webcast of the presentation can be accessed through the company’s website. IO Biotech focuses on developing immune-modulating cancer therapies utilizing its T-win® technology platform. A replay of the presentation will be available for 90 days post-conference.

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.