IO Biotech Advances Cancer Vaccine Trials in Q1 2025

Io Biotech, Inc. ( (IOBT) ) has released its Q1 earnings. Here is a breakdown of the information Io Biotech, Inc. presented to its investors.

IO Biotech, Inc. is a clinical-stage biopharmaceutical company focused on developing novel, immune-modulatory, off-the-shelf therapeutic cancer vaccines, primarily in the biotechnology sector, with a unique emphasis on reshaping the tumor microenvironment to enhance anti-tumor responses.

In its first quarter of 2025, IO Biotech reported significant progress in its clinical trials and business operations. The company is advancing its lead cancer vaccine candidate, Cylembio®, and preparing for a pivotal Phase 3 trial readout expected in the third quarter of 2025.

Key financial highlights include a net loss of $22.4 million for the quarter, an increase from $19.5 million in the same period last year. Research and development expenses rose to $16.4 million, reflecting ongoing investment in clinical trials. The company also drew €10.0 million from a loan facility with the European Investment Bank to support its operations.

Strategically, IO Biotech completed enrollment in its Phase 2 solid tumor basket trial and plans to submit a Biologics License Application for Cylembio in 2025. The company is also recognized as one of the most innovative biotechnology companies globally, highlighting its potential impact in the field of cancer treatment.

Looking ahead, IO Biotech remains focused on delivering Phase 3 data, advancing its pipeline, and exploring collaborations to expand the global reach of its cancer vaccines. The company anticipates having sufficient cash to operate into the second quarter of 2026, assuming further drawdowns from its loan facility.