IO Biotech Q1 net loss $22.4M; Phase 3 melanoma vaccine readout on track for Q3 2025

IO Biotech, Inc.

2025-Q1 EPS reported -$0.34

Net loss of $22.4M in Q1 2025 vs $19.5M in Q1 2024; R&D expenses rose to $16.4M.
Cash and equivalents $37.1M at March 31, 2025, down from $60.0M at Dec 31, 2024; Q1 cash burn $22.9M.
Drew €10.0M tranche A of EIB loan on May 6; believes conditions met for €12.5M second tranche.
Phase 3 trial primary endpoint (PFS) readout on track for Q3 2025; BLA submission planned in 2025.
Enrollment completed in Phase 2 basket trial (IOB-032) for SCCHN/melanoma; initial data expected H2 2025.

item 2.02 item 9.01

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