IO Biotech Q2 net loss $26.2M; Ph3 Cylembio trial misses PFS endpoint, plans FDA meeting fall 2025

IO Biotech, Inc.

2025-Q2 EPS reported -$0.74

Phase 3 trial of Cylembio+Keytruda in advanced melanoma showed clinical improvement in PFS but narrowly missed statistical significance.
Company plans to meet with FDA in fall 2025 to discuss data and potential BLA submission for Cylembio.
Net loss of $26.2M for Q2 2025 vs $20.7M in Q2 2024; R&D expenses $16.7M, G&A $6.5M.
Cash and equivalents $28.1M at June 30, 2025; plus €12.5M EIB loan received July 4, funding into Q1 2026.
Upcoming investor conferences: Morgan Stanley (Sept 9) and H.C. Wainwright (Sept 10) with management presentations.

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