IO Biotech Reports Q2 2025 Financial Results: Net Loss of $26.2 Million, $28.1 Million in Cash Reserves, and €12.5 Million EIB Loan for Q1 2026 Operations.

IO Biotech reported a net loss of $26.2 million in Q2 2025, with cash reserves of $28.1 million. The company's Phase 3 trial of Cylembio plus KEYTRUDA showed clinical improvement but narrowly missed statistical significance. IO Biotech received €12.5 million from the European Investment Bank, extending its operations into Q1 2026. Research and development expenses increased to $16.7 million. The company plans to meet with the FDA to discuss a possible Biologics License Application for advanced melanoma treatment and expects initial data from ongoing Phase 2 trials in the second half of 2025.

IO Biotech (Nasdaq: IOBT) reported mixed financial results for the second quarter of 2025, with a net loss of $26.2 million, up from $20.7 million in the same period last year. The company ended the quarter with $28.1 million in cash and cash equivalents, bolstered by a €12.5 million drawdown from the second tranche of the European Investment Bank (EIB) loan facility on July 4, 2025 [1].

The company's Phase 3 trial of Cylembio® plus KEYTRUDA® (pembrolizumab) for advanced melanoma showed clinical improvement in progression-free survival (PFS) compared to pembrolizumab alone, but narrowly missed statistical significance on the primary endpoint. IO Biotech plans to meet with the FDA this fall to discuss the data and determine the next steps for a potential Biologics License Application (BLA) submission for advanced melanoma treatment [1].

Research and development expenses increased to $16.7 million, up from $15.8 million in the same period last year. General and administrative expenses were $6.5 million, up from $5.7 million. The company expects initial data from its ongoing Phase 2 trials in the second half of 2025 [1].

IO Biotech's cash position, along with the €12.5 million from the EIB loan facility, is expected to be sufficient to fund operations into the first quarter of 2026. The company is scheduled to present at the Morgan Stanley 23rd Annual Global Healthcare Conference on September 9, 2025, and the H.C. Wainwright 27th Annual Global Investment Conference on September 10, 2025 [1].

References:
[1] https://finance.yahoo.com/news/io-biotech-reports-second-quarter-200500655.html