IO BIOTECH INC. DL-,001 Aktie

IO Biotech has appointed Raymond James & Associates as exclusive financial advisor to support the previously announced review of strategic alternatives. At the same time, the company announced substantial cost reductions, including significant workforce cuts, to preserve liquidity during the review. It did not disclose the number of employees affected or details of potential strategic options; data from InvestingPro point to rapid cash burn given a current ratio of 2.01. » Mere på de.investing.com

IO Biotech's stock dropped about 15% after Piper Sandler downgraded the rating from "Overweight" to "Neutral" and cut the price target from $3.00 to $0.50. The move was triggered by the company's announcement that it is reviewing various strategic options such as a merger, sale of assets or liquidation, without providing further details. The analyst justified the downgrade by citing uncertainty around the review process and ongoing cash constraints; the new price target is based on a net present value of roughly $0.20 per share plus a residual value for the pipeline. » Mere på de.investing.com

IO Biotech publishes five-year follow-up data in Nature Communications on the IO102‑IO103 plus Nivolumab combination in metastatic melanoma, reporting a median progression-free survival of 25.5 months, a median overall survival of 60 months and a median duration of response of more than 53 months. The 30-patient study identified potential vaccine-specific immune biomarkers and confirms the FDA Breakthrough Therapy designation for the combination with Pembrolizumab. A parallel phase 3 trial has enrolled 407 patients, with initial results expected in Q3 2025, while the company reports financial constraints, has halved its workforce and expects cash reserves to last until Q1 2026. » Mere på de.investing.com