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The latest update is out from IO Biotech ( (IOBT) ).
On March 31, 2026, IO Biotech ceased operations and filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, placing its assets and liabilities under the control of a court-appointed trustee and initiating liquidation. The move makes it unlikely that common shareholders will receive any recovery, and it also triggered a default under a €22.5 million finance contract with the European Investment Bank, although enforcement actions may be stayed under bankruptcy rules.
Concurrently with the filing, all members of IO Biotech’s board of directors resigned, and the company terminated all officers and employees without cause, leaving the company with no active governance or management. IO Biotech also confirmed that its 2025 audit was not completed and that it will be unable to file its Form 10-K or future periodic reports, while warning that any trading in its common stock following the bankruptcy filing would be highly speculative and carries a substantial risk of loss.
The most recent analyst rating on (IOBT) stock is a Hold with a $0.30 price target. To see the full list of analyst forecasts on IO Biotech stock, see the IOBT Stock Forecast page.
Spark’s Take on IOBT Stock
According to Spark, TipRanks’ AI Analyst, IOBT is a Neutral.
The score is primarily driven lower by weak financial performance (pre-revenue, large losses, substantial cash burn, and sharply thinner equity cushion) and bearish technicals (price below all major moving averages with negative MACD). Corporate events further increase downside and financing/listing risk, while valuation metrics provide limited offset due to negative earnings and no dividend.
To see Spark’s full report on IOBT stock, click here.
More about IO Biotech
IO Biotech, Inc. is a biotechnology company focused on developing immunotherapy treatments, operating in the biopharmaceutical sector. The company’s activities centered on researching and advancing novel cancer therapies, positioning it within the highly competitive oncology drug development market.
Average Trading Volume: 10,255,698
Technical Sentiment Signal: Sell
Current Market Cap: $12.4M
Find detailed analytics on IOBT stock on TipRanks’ Stock Analysis page.