IO Biotech Advances Phase 3 Trial and Secures Financing

An update from IO Biotech ( (IOBT) ) is now available.

On March 4, 2025, IO Biotech announced significant progress in its clinical trials and financial position. The company completed enrollment for its Phase 3 trial of Cylembio, an investigational cancer vaccine, and plans to submit a Biologics License Application to the FDA by the end of 2025. Additionally, IO Biotech secured up to €57.5 million in debt financing from the European Investment Bank, which is expected to extend its cash runway into the second quarter of 2026. These developments position IO Biotech for potential commercialization of its therapeutic cancer vaccine in 2026, pending FDA approval.

More about IO Biotech

IO Biotech is a clinical-stage biopharmaceutical company focused on developing novel, immune-modulatory, off-the-shelf therapeutic cancer vaccines. The company is primarily engaged in advancing treatments for advanced melanoma, metastatic head and neck cancer, and metastatic lung cancer.

YTD Price Performance: 2.72%

Average Trading Volume: 188,598

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $62.26M

For a thorough assessment of IOBT stock, go to TipRanks’ Stock Analysis page.