IO Biotech, Inc. (IOBTQ): restructuring charge — FDA advises IO Biotech not to submit BLA for Cylembio; workforce cut by ~50%

IO Biotech, Inc.

FDA recommends against BLA submission based on IOB-013 trial data (PFS improved but missed statistical significance).
Company plans new registrational study for first-line advanced melanoma; also engaging European regulators.
Restructuring reduces workforce ~50%; expects $1.0-1.5M severance charges in Q3 2025.
Cash runway extended into Q1 2026 to focus on regulatory path for Cylembio.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

IO Biotech, Inc. announced a restructuring with charges of approximately $1.0 million to $1.5 million (approximately 50% of the Company’s workforce globally).

Type: restructuring
Charge: approximately $1.0 million to $1.5 million
Headcount: approximately 50% of the Company’s workforce globally

Exact text from the filing

On September 25, 2025, the Board of Directors of IO Biotech, Inc. (the “Company”) approved a restructuring and workforce reduction plan (the “Plan”) to conserve capital to align the Company’s operations with its primary focus of advancing development of Cylembio ® (imsapepimut and etimupepimut, adjuvanted). The Plan is expected to result in a reduction of approximately 50% of the Company’s workforce globally. In connection with the implementation of the Plan, the Company expects to incur one-time charges and cash expenditures in a range of approximately $1.0 million to $1.5 million, primarily related to employee wages and severance payments, healthcare continuation, earned vacation time and related termination costs.

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

IO Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-221704

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