IO Biotech reports 2022 net loss of $71.5M; cash runway through Q3 2024

IO Biotech, Inc.

Net loss $71.5M for 2022 vs $67.9M for 2021; Q4 net loss $20.1M vs $21.3M.
R&D expenses $47.0M (+56% YoY) driven by Phase 3 trial execution; G&A $24.4M (+120%).
Cash and equivalents $142.6M at Dec 31, 2022, down from $211.5M; expects runway through Q3 2024.
Phase 3 advanced melanoma trial (IOB-013) targets 75% enrollment by mid-2023; interim ORR analysis could enable accelerated BLA.
Appointed Amy Sullivan CFO (Oct 2022) and Devin Smith GC (Jan 2023).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IO Biotech, Inc. reported the year ended December 31, 2022 results: net income $71.5 million.

Period: the year ended December 31, 2022
Net income: $71.5 million
Result: reported results

Exact text from the filing

Net loss for the year ended December 31, 2022, was $71.5 million

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IO Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-070166

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