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IO Biotech ( (IOBT) ) just unveiled an update.
On January 21, 2026, IO Biotech’s board approved a restructuring and workforce reduction plan expected to result in a significant global headcount cut, as the company moves to reduce operating expenses while evaluating strategic alternatives. The plan is expected to generate one-time charges of approximately $2.4 million to $2.6 million, largely tied to severance, benefits, and related termination costs, primarily in the first quarter of 2026, with the potential for additional non-material charges later. As part of these measures, the company notified Chief Medical Officer Qasim Ahmad on January 28, 2026, that his employment would end effective February 15, 2026, underscoring the depth of the restructuring at senior levels. On January 30, 2026, IO Biotech announced it had retained Raymond James & Associates as its exclusive financial advisor to assist in its review of strategic options and confirmed that the workforce reduction and broader cost-containment initiatives are central to conserving cash and reshaping operations during this strategic review, a move with significant implications for employees, leadership and the company’s future configuration.
The most recent analyst rating on (IOBT) stock is a Sell with a $0.29 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.
Overall score is held down primarily by very weak financial performance (pre-revenue, large losses, significant cash burn, and sharply reduced equity buffer), with technicals also negative due to a sustained downtrend and weak momentum. Valuation provides limited support because the company is loss-making (negative P/E) and there is no dividend yield data.
To see Spark’s full report on IOBT stock, click here.
More about IO Biotech
IO Biotech is a clinical-stage biopharmaceutical company focused on developing novel, immune-modulatory, off-the-shelf therapeutic cancer vaccines based on its T-win platform, which is designed to activate T cells against both tumor cells and immune-suppressive cells in the tumor microenvironment. The company is headquartered in Copenhagen, Denmark, with U.S. headquarters in New York, and targets the oncology market with its pipeline of cancer vaccine candidates.
Average Trading Volume: 9,525,847
Technical Sentiment Signal: Sell
Current Market Cap: $22.3M
For a thorough assessment of IOBT stock, go to TipRanks’ Stock Analysis page.