IO Biotech Q3: Phase 3 melanoma trial narrowly misses PFS endpoint; cash $30.7M, runway to Q1 2026

IO Biotech, Inc.

2025-Q3 EPS reported -$0.86

Phase 3 IOB-013 trial in advanced melanoma showed PFS improvement but narrowly missed statistical significance; FDA meeting in December for new registrational trial design.
Q3 total operating expenses $19.4M, down from $26.5M YoY; R&D expenses $13.7M vs $20.2M prior year.
Cash and equivalents $30.7M as of Sep 30, 2025, down from $60.0M at Dec 31, 2024; expects to fund operations through Q1 2026.
Cash increased $2.5M in Q3 from €12.5M EIB loan drawdown and $6.6M net ATM proceeds.
Pre-clinical data for pipeline candidates IO112 (arginase 1) and IO170 (TGF-β) presented at SITC.

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