IO Biotech reports Q2 net loss of $18.5M; cash $170.1M to fund data readouts into mid-2024

IO Biotech, Inc.

2022-Q2 EPS reported -$1.24

Net loss $18.5M for Q2 2022 vs $38.4M in Q2 2021, driven by higher R&D and G&A costs.
R&D expenses $12.2M (up from $6.7M) due to Phase 3 trial initiation and increased headcount.
Cash and equivalents $170.1M at June 30, 2022, down from $211.5M at Dec 31, 2021.
Initiated Phase 3 IOB-013/KN-D18 trial of IO102-IO103 + pembrolizumab in advanced melanoma.
Phase 2 basket trial (IOB-022/KN-D38) dosing started; preliminary data expected H2 2022.

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