Optimistic Outlook on IO Biotech: Promising Cancer Treatment Developments and Strategic Growth Moves

Analyst Emily Bodnar of H.C. Wainwright maintained a Buy rating on IO Biotech (IOBT – Research Report), boosting the price target to $14.00.

Emily Bodnar has given her Buy rating due to a combination of factors surrounding IO Biotech’s promising developments in their cancer treatment pipeline. The company’s pivotal Phase 3 trial of Cylembio, in combination with pembrolizumab for advanced melanoma, is on track for a progression-free survival readout in the third quarter of 2025. This trial is crucial as it could lead to a Biologics License Application submission in 2025 and a potential U.S. launch in 2026, positioning Cylembio as a first-in-class therapeutic cancer vaccine.
Additionally, IO Biotech has presented encouraging preclinical data that demonstrate the immunomodulatory benefits of their T-Win platform’s cancer vaccines. The completion of enrollment in their Phase 2 basket trial and the company’s strategic financial moves, such as drawing from the European Investment Bank loan, further support the company’s growth prospects. These factors, along with the potential for positive results from ongoing trials, underpin Bodnar’s optimistic outlook on IO Biotech’s stock.