Overview

* IO Biotech ( IOBT ) reports Q3 net loss of $8.4 mln, operating expenses decreased yr/yr

* Company narrowly missed statistical significance in Phase 3 trial for advanced melanoma

* Meeting with FDA scheduled to discuss new Phase 3 trial design for advanced melanoma

Outlook

* Company expects cash reserves to support operations through Q1 2026

* Meeting with FDA scheduled to discuss new Phase 3 trial design for advanced melanoma

Result Drivers

* Research and development expenses were $13.7 million for the three months ended September 30, 2025, compared to $20.2 million for the three months ended September 30, 2024

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net -$8.38

Income mln

Q3 Basic -$0.13

EPS

Q3 $19.36

Operatin mln

g

Expenses

Q3 -$19.36

Operatin mln

g Income

Q3 -$10.04

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for IO Biotech Inc ( IOBT ) is $3.00, about 72.9% above its November 13 closing price of $0.81

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)