IO Biotech Seeks Strategic Alternatives, Implements Cost-Cut Measures

IO Biotech is exploring strategic alternatives with Raymond James & Associates, implementing cost-control measures such as a significant workforce reduction to conserve cash. The company operates in the biotechnology sector, focusing on immune-modulating cancer vaccines. IO Biotech's financial health presents challenges, including zero revenue, ongoing losses, and a high debt-to-equity ratio. Valuation metrics highlight the company's distressed status with a high price-to-book ratio and a recommendation score of 2.7. Investors should consider financial health grades, sector-specific risks, volatility, and upcoming catalysts when evaluating the stock.