IO Biotech Q1 2022 net loss $17.2M; cash $187.9M; Phase 2 trial initiated

IO Biotech, Inc.

2023-Q1 EPS reported -$0.60

Net loss of $17.2M for Q1 2022 vs $3.7M in Q1 2021; R&D expenses $10.3M (up $7.5M).
Cash and equivalents $187.9M at March 31, 2022, down from $211.5M at Dec 31, 2021; runway to mid-2024.
Initiated Phase 2 trial (IOB-022/KN-D38) of IO102-IO103 with pembrolizumab in first-line treatment.
Updated Phase 1/2 data for IO102-IO103 + nivolumab in metastatic melanoma showed 73% 3-year survival probability.
Phase 3 trial (IOB-013/KN-D18) with Merck ongoing; guidance on interim readout timing expected mid-2022.

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