Io Biotech, Inc. (IOBT)
NASDAQ:IOBT
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IO Biotech
(NASDAQ:IOBT)
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Rating:41Neutral
Price Target:
$0.30
▲(58.42% Upside)
Action:ReiteratedDate:01/31/26
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.
Positive Factors
Proprietary discovery platform
A validated IO Discovery platform that identifies tumor-associated antigens is a durable competitive asset. It can continually generate new vaccine candidates, support combination strategies across indications, and increase the firm's attractiveness for partnerships or licensing agreements over time.
Negative Factors
Pre-revenue with heavy cash burn
Being pre-revenue with ~ $88M TTM net losses and material operating cash burn is a persistent structural weakness. It necessitates recurring financing, increases dilution risk, and constrains the firm's ability to sustain multiple clinical programs without securing additional capital or partnerships.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary discovery platform
A validated IO Discovery platform that identifies tumor-associated antigens is a durable competitive asset. It can continually generate new vaccine candidates, support combination strategies across indications, and increase the firm's attractiveness for partnerships or licensing agreements over time.
Read all positive factors
IO Biotech (IOBT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.89M
Dividend YieldN/A
Average Volume (3M)1.32M
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue GrowthN/A
EPS Growth2.36%
CountryUS
Employees80
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.13
Shares Outstanding71,948,845
10 Day Avg. Volume1,665,395
30 Day Avg. Volume1,320,622
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.29
Price to Sales (P/S)0.00
P/FCF Ratio-0.74
Enterprise Value/Market Cap-1.21
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit18.47
Enterprise Value/Ebitda0.19
Forecast
1Y Price Target
$0.43Price Target Upside126.32% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)-0.29
Revenue Forecast (FY)N/A
IO Biotech Business Overview & Revenue Model
Company Description
IO Biotech, Inc., a clinical-stage biopharmaceutical company, develops immune-modulating cancer therapies based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive prot...
How the Company Makes Money
IO Biotech makes money primarily through the development and commercialization of its immune-modulating cancer therapies. The company's revenue streams include potential product sales, licensing agreements, and collaborations with larger pharmaceu...
IO Biotech Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -910.00K | -849.00K | -756.00K | -540.00K | 0.00 | 0.00 |
| EBITDA | -87.25M | -93.20M | -84.47M | -69.34M | -67.45M | -12.02M |
| Net Income | -88.35M | -95.49M | -86.08M | -71.46M | -67.88M | -12.04M |
Balance Sheet | ||||||
| Total Assets | 39.96M | 67.70M | 150.72M | 151.81M | 222.29M | 5.65M |
| Cash, Cash Equivalents and Short-Term Investments | 30.66M | 60.03M | 143.19M | 142.59M | 211.53M | 3.40M |
| Total Debt | 1.46M | 1.92M | 2.49M | 2.79M | 0.00 | 0.00 |
| Total Liabilities | 39.05M | 20.68M | 17.56M | 12.95M | 10.36M | 3.05M |
| Stockholders Equity | 911.00K | 47.02M | 133.16M | 138.85M | 211.92M | 2.60M |
Cash Flow | ||||||
| Free Cash Flow | -81.06M | -82.39M | -72.06M | -60.42M | -40.80M | -9.96M |
| Operating Cash Flow | -81.00M | -82.35M | -71.74M | -59.73M | -40.65M | -9.96M |
| Investing Cash Flow | -69.00K | -44.00K | -323.00K | -690.00K | -153.00K | 0.00 |
| Financing Cash Flow | 32.76M | 0.00 | 71.86M | 0.00 | 252.95M | 5.10M |
IO Biotech Technical Analysis
Negative
0.19
Price Trends
0.31
Negative
0.51
Negative
0.98
Negative
Market Momentum
-0.04
Negative
34.15
Neutral
58.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IOBT, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.24, below the 50-day MA of 0.31, and below the 200-day MA of 0.98, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 34.15 is Neutral, neither overbought nor oversold. The STOCH value of 58.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IOBT.
IO Biotech Risk Analysis
IO Biotech disclosed 89 risk factors in its most recent earnings report. IO Biotech reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
IO Biotech Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $29.36M | -3.95 | -61.62% | ― | 4455.07% | 77.31% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $45.78M | 0.54 | -225.83% | ― | -14.92% | 72.81% | |
44 Neutral | $25.22M | -9.21 | -96.36% | ― | -6.51% | 58.31% | |
41 Neutral | $13.89M | -0.73 | -465.36% | ― | ― | 2.36% | |
40 Underperform | $32.56M | -1.06 | 280.42% | ― | 121.74% | 24.75% |
* Healthcare Sector Average
IOBT
IO Biotech
0.19
-0.90
-82.29%
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IO Biotech Corporate Events
Business Operations and StrategyExecutive/Board Changes
IO Biotech launches strategic review amid major restructuring
Negative
Jan 30, 2026
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...
Business Operations and StrategyM&A Transactions
IO Biotech Explores Strategic Alternatives Amid Cost-Cutting Plans
Negative
Jan 21, 2026
On January 21, 2026, IO Biotech announced that it had begun exploring a range of strategic alternatives aimed at maximizing shareholder value, including options such as a merger, business combination, sale of assets, other strategic transactions, ...
Delistings and Listing ChangesRegulatory Filings and Compliance
IO Biotech Receives Nasdaq Notice for Bid Price Noncompliance
Negative
Dec 19, 2025
On December 17, 2025, IO Biotech, Inc. received a notice from Nasdaq that its common stock no longer met the Nasdaq Global Select Market’s minimum bid price requirement, as its closing bid price had remained below $1.00 per share for 30 cons...
Executive/Board Changes
IO Biotech Announces Resignation of Chief Accounting Officer
Neutral
Nov 21, 2025
On November 17, 2025, IO Biotech, Inc. announced the resignation of Brian Burkavage from his role as Senior Vice President and Chief Accounting Officer, effective December 12, 2025. His departure is amicable and due to his pursuit of another oppor...
Business Operations and StrategyProduct-Related Announcements
IO Biotech Presents at Jefferies Global Healthcare Conference
Positive
Nov 18, 2025
IO Biotech, Inc. announced its participation in the Jefferies Global Healthcare Conference starting November 18, 2025, where it will present updated corporate information to investors. The company highlighted the promising results of its Phase 3 t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.