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[8-K] IO Biotech, Inc. Reports Material Event

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IO Biotech disclosed topline results from its Phase 3 IOB-013 study evaluating Cylembio plus pembrolizumab versus pembrolizumab alone as first-line treatment for unresectable or metastatic melanoma. The randomized trial enrolled 407 patients (203 combination, 204 monotherapy). The primary endpoint, progression-free survival assessed by blinded independent review per RECIST v1.1, showed early and sustained separation with a hazard ratio (HR) of 0.77 (95% CI: 0.58�1.00; p=0.056), and median PFS of 19.4 months versus 11.0 months. The primary result falls short of the prespecified significance threshold.

Notable subgroup findings include a pronounced benefit in PD-L1 negative tumors (HR 0.54; mPFS 16.6 vs 3.0 months; nominal p=0.006) and in patients without prior anti–PD-1 therapy (post hoc HR 0.74; mPFS 24.8 vs 11.0 months; nominal p=0.037). Overall survival trends were favorable but immature (HR 0.79; 95% CI: 0.57�1.10). The combination was generally well tolerated; injection site reactions were most common (reported in 56% of combination arm patients) and resolved on treatment. The company plans regulatory discussions about a potential BLA and will present more detailed data. It disclosed an estimated cash balance of approximately $28.1 million plus a �12.5 million tranche drawn under a term loan, which it expects to fund operations into the first quarter of 2026, subject to final close procedures.

IO Biotech ha comunicato i risultati topline dello studio di Fase 3 IOB-013 che ha valutato Cylembio in combinazione con pembrolizumab rispetto a pembrolizumab in monoterapia come trattamento di prima linea per melanoma non resecabile o metastatico. Lo studio randomizzato ha arruolato 407 pazienti (203 braccio combinazione, 204 braccio monoterapia). L'endpoint primario, la sopravvivenza libera da progressione (PFS) valutata da una revisione indipendente in cieco secondo RECIST v1.1, ha mostrato una separazione precoce e sostenuta con un hazard ratio (HR) di 0.77 (95% CI: 0.58�1.00; p=0.056) e una mPFS di 19.4 mesi versus 11.0 mesi. Il risultato primario non ha raggiunto la soglia di significatività prespecificata.

Tra i sottogruppi degni di nota si osserva un beneficio marcato nei tumori PD-L1 negativi (HR 0.54; mPFS 16.6 vs 3.0 mesi; p nominale=0.006) e nei pazienti senza precedente terapia anti–PD-1 (analisi post hoc HR 0.74; mPFS 24.8 vs 11.0 mesi; p nominale=0.037). I trend della sopravvivenza globale erano favorevoli ma i dati sono immaturi (HR 0.79; 95% CI: 0.57�1.10). La combinazione è stata generalmente ben tollerata; le reazioni nel sito di iniezione sono state le più comuni (riportate nel 56% dei pazienti del braccio combinazione) e si sono risolte durante il trattamento. La società prevede discussioni regolatorie su una possibile BLA e presenterà dati più dettagliati. Ha dichiarato un saldo di cassa stimato di circa $28.1 million più una tranche di �12.5 million utilizzata nell'ambito di un prestito a termine, che dovrebbe finanziare le operazioni fino al primo trimestre del 2026, soggetto alle procedure di chiusura finale.

IO Biotech hizo públicos los resultados topline de su estudio de fase 3 IOB-013 que evaluó Cylembio más pembrolizumab frente a pembrolizumab solo como tratamiento de primera línea para melanoma irresecable o metastásico. El ensayo aleatorizado incluyó a 407 pacientes (203 combinación, 204 monoterapia). El endpoint primario, la supervivencia libre de progresión (PFS) evaluada por revisión independiente ciega según RECIST v1.1, mostró una separación temprana y sostenida con una razón de riesgos (HR) de 0.77 (95% CI: 0.58�1.00; p=0.056) y una mediana de mPFS de 19.4 meses frente a 11.0 meses. El resultado primario no alcanzó el umbral de significación prespecificado.

Entre los subgrupos destacables, se observó un beneficio pronunciado en tumores PD-L1 negativos (HR 0.54; mPFS 16.6 vs 3.0 meses; p nominal=0.006) y en pacientes sin terapia previa anti–PD-1 (análisis post hoc HR 0.74; mPFS 24.8 vs 11.0 meses; p nominal=0.037). Las tendencias de supervivencia global fueron favorables pero inmaduras (HR 0.79; 95% CI: 0.57�1.10). La combinación fue en general bien tolerada; las reacciones en el lugar de la inyección fueron las más frecuentes (reportadas en el 56% de los pacientes del brazo combinado) y se resolvieron durante el tratamiento. La compañía planea conversaciones regulatorias sobre una posible BLA y presentará datos más detallados. Reveló un saldo de caja estimado de aproximadamente $28.1 million más una tranche de �12.5 million dispuesta bajo un préstamo a plazo, que espera financiar las operaciones hasta el primer trimestre de 2026, sujeto a los procedimientos de cierre final.

IO BiotechëŠ� 수술 불가능하거나 ì „ì´ì„� í‘ìƒ‰ì¢…ì˜ 1ì°� 치료ë¡� Cylembio와 펨브롤리주맙 병용요법ì� 펨브롤리주맙 단ë…ê³� 비êµí•� 3ìƒ� IOB-013 연구ì� 톱ë¼ì� ê²°ê³¼ë¥� 공개했습니다. 무작ìœ� ë°°ì •ë� ì� 연구ì—는 407ëª�(병용 203ëª�, ë‹¨ë… 204ëª�)ì� 등ë¡ë˜ì—ˆìŠµë‹ˆë‹�. 주요 í‰ê°€ë³€ìˆ˜ì¸ 무진행ìƒì¡´ê¸°ê°�(PFS)ì� RECIST v1.1ì—� ë”°ë¼ ë…립ì � 블ë¼ì¸ë“œ 리뷰ë¡� í‰ê°€í•� ê²°ê³¼ 초기부í„� ì§€ì†ì ì� 분리가 관찰ë˜ì—ˆê³ , 위험ë¹�(HR) 0.77(95% CI: 0.58â€�1.00; p=0.056)ë¡� ë³‘ìš©êµ°ì˜ ì¤‘ì•™ê°� PFSëŠ� 19.4ê°µÓ›” 대 단ë…êµ°ì˜ 11.0ê°µÓ›”ì´ì—ˆìŠµë‹ˆë‹�. 주요 ê²°ê³¼ëŠ� 사전 ì§€ì •ëœ ìœ ì˜ì„� 기준ì� 충족하지 못했습니ë‹�.

주목í•� 하위êµ� 결과로는 PD-L1 ìŒì„± 종양ì—서ì� 뚜렷í•� ì´ë“(HR 0.54; mPFS 16.6 vs 3.0개월; 명목 p=0.006)ê³� ì´ì „ 항–PD-1 치료ë¥� 받지 ì•Šì€ í™˜ìžì—서ì� ì´ë“(사후 ë¶„ì„ HR 0.74; mPFS 24.8 vs 11.0ê°µÓ›”; 명목 p=0.037)ì� í¬í•¨ë©ë‹ˆë‹�. ì „ì²´ìƒì¡´(OS) 추세ëŠ� 우호ì ì´ì§€ë§� ì•„ì§ ë°ì´í„� 성숙ë„ê°€ 낮습니다(HR 0.79; 95% CI: 0.57â€�1.10). ë³‘ìš©ìš”ë²•ì€ ì „ë°˜ì ìœ¼ë¡� ë‚´ì•½ì„±ì´ ì¢‹ì•˜ìœ¼ë©°, 주사 ë¶€ìœ� ë°˜ì‘ì� ê°€ìž� í”하ê²� ë³´ê³ ë˜ì—ˆê³�(ë³‘ìš©êµ°ì˜ 56% ë³´ê³ ) 치료 ì¤� 해소ë˜ì—ˆìŠµë‹ˆë‹�. 회사ëŠ� 잠재ì � BLAì—� 대í•� 규제 ë…¼ì˜ë¥� 계íší•˜ê³  있으ë©� 보다 ìƒì„¸í•� ë°ì´í„°ë¥¼ 발표í•� 예정입니ë‹�. ì•� $28.1 millionì� 추정 현금 잔액ê³� 기한부 대출ì—ì„� ì¸ì¶œí•� â‚�12.5 million 트랜치가 있다ê³� 공개했으ë©�, ì´ëŠ” 최종 ë§ˆê° ì ˆì°¨ë¥� ì „ì œë¡� 2026ë…� 1분기까지 ìš´ì˜ ìžê¸ˆì� ì§€ì›í•  것으ë¡� 예ìƒí•©ë‹ˆë‹�.

IO Biotech a communiqué les résultats topline de son essai de phase 3 IOB-013 évaluant Cylembio en association avec pembrolizumab versus pembrolizumab seul en première ligne pour le mélanome non résécable ou métastatique. L'essai randomisé a enrôlé 407 patients (203 en combinaison, 204 en monothérapie). Le critère principal, la survie sans progression (PFS) évaluée par revue indépendante en aveugle selon RECIST v1.1, a montré une séparation précoce et soutenue avec un hazard ratio (HR) de 0.77 (95% CI: 0.58�1.00; p=0.056) et une médiane de mPFS de 19.4 mois contre 11.0 mois. Le résultat primaire n'atteint pas le seuil de significativité prédéterminé.

Les analyses de sous-groupes notables montrent un bénéfice marqué dans les tumeurs PD-L1 négatives (HR 0.54; mPFS 16.6 vs 3.0 mois; p nominal=0.006) et chez les patients sans traitement antérieur anti–PD-1 (analyse post hoc HR 0.74; mPFS 24.8 vs 11.0 mois; p nominal=0.037). Les tendances en survie globale étaient favorables mais immatures (HR 0.79; 95% CI: 0.57�1.10). L'association a été généralement bien tolérée; les réactions au site d'injection étaient les plus fréquentes (signalées chez 56% des patients du bras combinaison) et se sont résolues sous traitement. La société prévoit des discussions réglementaires au sujet d'une éventuelle BLA et présentera des données plus détaillées. Elle a indiqué un solde de trésorerie estimé d'environ $28.1 million plus une tranche de �12.5 million tirée dans le cadre d'un prêt à terme, qui devrait financer les opérations jusqu'au premier trimestre 2026, sous réserve des procédures de clôture finale.

IO Biotech veröffentlichte Topline-Ergebnisse der Phase-3-Studie IOB-013, in der Cylembio plus Pembrolizumab versus Pembrolizumab allein als Erstlinienbehandlung bei nicht resektablem oder metastasiertem Melanom untersucht wurde. Die randomisierte Studie schloss 407 Patienten ein (203 Kombination, 204 Monotherapie). Der primäre Endpunkt, das progressionsfreie Überleben (PFS) bewertet durch ein verblindetes unabhängiges Review nach RECIST v1.1, zeigte eine frühe und anhaltende Trennung mit einem Hazard Ratio (HR) von 0.77 (95% CI: 0.58â€�1.00; p=0.056) und einer medianen PFS von 19.4 Monaten ²µ±ð²µ±ð²Ôü²ú±ð°ù 11.0 Monaten. Das primäre Ergebnis verfehlte die vorab festgelegte Signifikanzgrenze.

Bemerkenswerte Subgruppenbefunde umfassen einen ausgeprägten Nutzen bei PD-L1-negativen Tumoren (HR 0.54; mPFS 16.6 vs 3.0 Monate; nominal p=0.006) und bei Patienten ohne vorherige Anti–PD-1-Therapie (post-hoc HR 0.74; mPFS 24.8 vs 11.0 Monate; nominal p=0.037). Die Gesamtüberlebens-Trends waren vorteilhaft, aber noch nicht ausgereift (HR 0.79; 95% CI: 0.57�1.10). Die Kombination war insgesamt gut verträglich; Reaktionen an der Injektionsstelle waren am häufigsten (bei 56% der Patienten in der Kombinationsgruppe berichtet) und klangen während der Behandlung ab. Das Unternehmen plant behördliche Gespräche zu einer möglichen BLA und wird detailliertere Daten präsentieren. Es gab einen geschätzten Kassenbestand von ungefähr $28.1 million zuzüglich einer unter einem Terminkredit abgerufenen Tranche von �12.5 million, die voraussichtlich die Geschäftstätigkeit bis ins erste Quartal 2026 finanzieren wird, vorbehaltlich der endgültigen Abschlussverfahren.

Positive
  • Median PFS improved to 19.4 months with the combination versus 11.0 months with pembrolizumab alone
  • Strong subgroup benefit in PD-L1 negative patients (HR 0.54; mPFS 16.6 vs 3.0 months; nominal p=0.006)
  • Post hoc anti–PD-1 naive subgroup showed improved PFS (HR 0.74; mPFS 24.8 vs 11.0 months; nominal p=0.037)
  • No new safety signals; combination generally well tolerated with mostly transient injection site reactions
  • Regulatory engagement planned to discuss potential BLA submission based on the totality of data
Negative
  • Primary endpoint narrowly missed statistical significance (HR 0.77; p=0.056; prespecified threshold pâ‰�0.045)
  • Overall survival immature with only a trend observed (HR 0.79; 95% CI: 0.57â€�1.10)
  • Several key analyses are post hoc or nominally significant, which limits their regulatory weight
  • Limited cash runway: estimated ~$28.1 million plus a â‚�12.5 million tranche expected to fund into Q1 2026, indicating near-term financing need
  • Preliminary cash estimate may change because financial closing procedures for the period are incomplete

Insights

TL;DR: Positive PFS signals across key subgroups, but the primary endpoint narrowly missed statistical significance.

The trial enrolled 407 patients and showed an overall PFS HR of 0.77 (p=0.056), demonstrating an early and sustained separation of curves and a clinically meaningful median PFS increase to 19.4 months versus 11.0 months. The most compelling evidence is in PD-L1 negative patients (HR 0.54; mPFS 16.6 vs 3.0 months) and in anti–PD-1 naive patients (post hoc HR 0.74; mPFS 24.8 vs 11.0 months). However, the nominal subgroup p-values and a post hoc analysis do not replace a statistically significant primary outcome, so regulatory discussions will hinge on the totality of evidence, consistency of effect, and durability of OS as it matures.

TL;DR: Encouraging clinical signals tempered by missed primary significance and limited near-term cash runway.

The topline PFS improvement suggests clinical value that could support regulatory engagement, especially given strong PD-L1 negative and anti–PD-1 naive subgroup results. Nonetheless, missing the prespecified p-value raises regulatory and commercial risk; confirmatory evidence and mature OS will be pivotal. Financially, the company reports approximately $28.1 million in cash plus a �12.5 million loan tranche expected to fund operations into Q1 2026, indicating a need to secure additional capital within the next several quarters unless revenues or additional financing materialize. Investors should view this as a mixed outcome with both upside potential and near-term funding pressure.

IO Biotech ha comunicato i risultati topline dello studio di Fase 3 IOB-013 che ha valutato Cylembio in combinazione con pembrolizumab rispetto a pembrolizumab in monoterapia come trattamento di prima linea per melanoma non resecabile o metastatico. Lo studio randomizzato ha arruolato 407 pazienti (203 braccio combinazione, 204 braccio monoterapia). L'endpoint primario, la sopravvivenza libera da progressione (PFS) valutata da una revisione indipendente in cieco secondo RECIST v1.1, ha mostrato una separazione precoce e sostenuta con un hazard ratio (HR) di 0.77 (95% CI: 0.58�1.00; p=0.056) e una mPFS di 19.4 mesi versus 11.0 mesi. Il risultato primario non ha raggiunto la soglia di significatività prespecificata.

Tra i sottogruppi degni di nota si osserva un beneficio marcato nei tumori PD-L1 negativi (HR 0.54; mPFS 16.6 vs 3.0 mesi; p nominale=0.006) e nei pazienti senza precedente terapia anti–PD-1 (analisi post hoc HR 0.74; mPFS 24.8 vs 11.0 mesi; p nominale=0.037). I trend della sopravvivenza globale erano favorevoli ma i dati sono immaturi (HR 0.79; 95% CI: 0.57�1.10). La combinazione è stata generalmente ben tollerata; le reazioni nel sito di iniezione sono state le più comuni (riportate nel 56% dei pazienti del braccio combinazione) e si sono risolte durante il trattamento. La società prevede discussioni regolatorie su una possibile BLA e presenterà dati più dettagliati. Ha dichiarato un saldo di cassa stimato di circa $28.1 million più una tranche di �12.5 million utilizzata nell'ambito di un prestito a termine, che dovrebbe finanziare le operazioni fino al primo trimestre del 2026, soggetto alle procedure di chiusura finale.

IO Biotech hizo públicos los resultados topline de su estudio de fase 3 IOB-013 que evaluó Cylembio más pembrolizumab frente a pembrolizumab solo como tratamiento de primera línea para melanoma irresecable o metastásico. El ensayo aleatorizado incluyó a 407 pacientes (203 combinación, 204 monoterapia). El endpoint primario, la supervivencia libre de progresión (PFS) evaluada por revisión independiente ciega según RECIST v1.1, mostró una separación temprana y sostenida con una razón de riesgos (HR) de 0.77 (95% CI: 0.58�1.00; p=0.056) y una mediana de mPFS de 19.4 meses frente a 11.0 meses. El resultado primario no alcanzó el umbral de significación prespecificado.

Entre los subgrupos destacables, se observó un beneficio pronunciado en tumores PD-L1 negativos (HR 0.54; mPFS 16.6 vs 3.0 meses; p nominal=0.006) y en pacientes sin terapia previa anti–PD-1 (análisis post hoc HR 0.74; mPFS 24.8 vs 11.0 meses; p nominal=0.037). Las tendencias de supervivencia global fueron favorables pero inmaduras (HR 0.79; 95% CI: 0.57�1.10). La combinación fue en general bien tolerada; las reacciones en el lugar de la inyección fueron las más frecuentes (reportadas en el 56% de los pacientes del brazo combinado) y se resolvieron durante el tratamiento. La compañía planea conversaciones regulatorias sobre una posible BLA y presentará datos más detallados. Reveló un saldo de caja estimado de aproximadamente $28.1 million más una tranche de �12.5 million dispuesta bajo un préstamo a plazo, que espera financiar las operaciones hasta el primer trimestre de 2026, sujeto a los procedimientos de cierre final.

IO BiotechëŠ� 수술 불가능하거나 ì „ì´ì„� í‘ìƒ‰ì¢…ì˜ 1ì°� 치료ë¡� Cylembio와 펨브롤리주맙 병용요법ì� 펨브롤리주맙 단ë…ê³� 비êµí•� 3ìƒ� IOB-013 연구ì� 톱ë¼ì� ê²°ê³¼ë¥� 공개했습니다. 무작ìœ� ë°°ì •ë� ì� 연구ì—는 407ëª�(병용 203ëª�, ë‹¨ë… 204ëª�)ì� 등ë¡ë˜ì—ˆìŠµë‹ˆë‹�. 주요 í‰ê°€ë³€ìˆ˜ì¸ 무진행ìƒì¡´ê¸°ê°�(PFS)ì� RECIST v1.1ì—� ë”°ë¼ ë…립ì � 블ë¼ì¸ë“œ 리뷰ë¡� í‰ê°€í•� ê²°ê³¼ 초기부í„� ì§€ì†ì ì� 분리가 관찰ë˜ì—ˆê³ , 위험ë¹�(HR) 0.77(95% CI: 0.58â€�1.00; p=0.056)ë¡� ë³‘ìš©êµ°ì˜ ì¤‘ì•™ê°� PFSëŠ� 19.4ê°µÓ›” 대 단ë…êµ°ì˜ 11.0ê°µÓ›”ì´ì—ˆìŠµë‹ˆë‹�. 주요 ê²°ê³¼ëŠ� 사전 ì§€ì •ëœ ìœ ì˜ì„� 기준ì� 충족하지 못했습니ë‹�.

주목í•� 하위êµ� 결과로는 PD-L1 ìŒì„± 종양ì—서ì� 뚜렷í•� ì´ë“(HR 0.54; mPFS 16.6 vs 3.0개월; 명목 p=0.006)ê³� ì´ì „ 항–PD-1 치료ë¥� 받지 ì•Šì€ í™˜ìžì—서ì� ì´ë“(사후 ë¶„ì„ HR 0.74; mPFS 24.8 vs 11.0ê°µÓ›”; 명목 p=0.037)ì� í¬í•¨ë©ë‹ˆë‹�. ì „ì²´ìƒì¡´(OS) 추세ëŠ� 우호ì ì´ì§€ë§� ì•„ì§ ë°ì´í„� 성숙ë„ê°€ 낮습니다(HR 0.79; 95% CI: 0.57â€�1.10). ë³‘ìš©ìš”ë²•ì€ ì „ë°˜ì ìœ¼ë¡� ë‚´ì•½ì„±ì´ ì¢‹ì•˜ìœ¼ë©°, 주사 ë¶€ìœ� ë°˜ì‘ì� ê°€ìž� í”하ê²� ë³´ê³ ë˜ì—ˆê³�(ë³‘ìš©êµ°ì˜ 56% ë³´ê³ ) 치료 ì¤� 해소ë˜ì—ˆìŠµë‹ˆë‹�. 회사ëŠ� 잠재ì � BLAì—� 대í•� 규제 ë…¼ì˜ë¥� 계íší•˜ê³  있으ë©� 보다 ìƒì„¸í•� ë°ì´í„°ë¥¼ 발표í•� 예정입니ë‹�. ì•� $28.1 millionì� 추정 현금 잔액ê³� 기한부 대출ì—ì„� ì¸ì¶œí•� â‚�12.5 million 트랜치가 있다ê³� 공개했으ë©�, ì´ëŠ” 최종 ë§ˆê° ì ˆì°¨ë¥� ì „ì œë¡� 2026ë…� 1분기까지 ìš´ì˜ ìžê¸ˆì� ì§€ì›í•  것으ë¡� 예ìƒí•©ë‹ˆë‹�.

IO Biotech a communiqué les résultats topline de son essai de phase 3 IOB-013 évaluant Cylembio en association avec pembrolizumab versus pembrolizumab seul en première ligne pour le mélanome non résécable ou métastatique. L'essai randomisé a enrôlé 407 patients (203 en combinaison, 204 en monothérapie). Le critère principal, la survie sans progression (PFS) évaluée par revue indépendante en aveugle selon RECIST v1.1, a montré une séparation précoce et soutenue avec un hazard ratio (HR) de 0.77 (95% CI: 0.58�1.00; p=0.056) et une médiane de mPFS de 19.4 mois contre 11.0 mois. Le résultat primaire n'atteint pas le seuil de significativité prédéterminé.

Les analyses de sous-groupes notables montrent un bénéfice marqué dans les tumeurs PD-L1 négatives (HR 0.54; mPFS 16.6 vs 3.0 mois; p nominal=0.006) et chez les patients sans traitement antérieur anti–PD-1 (analyse post hoc HR 0.74; mPFS 24.8 vs 11.0 mois; p nominal=0.037). Les tendances en survie globale étaient favorables mais immatures (HR 0.79; 95% CI: 0.57�1.10). L'association a été généralement bien tolérée; les réactions au site d'injection étaient les plus fréquentes (signalées chez 56% des patients du bras combinaison) et se sont résolues sous traitement. La société prévoit des discussions réglementaires au sujet d'une éventuelle BLA et présentera des données plus détaillées. Elle a indiqué un solde de trésorerie estimé d'environ $28.1 million plus une tranche de �12.5 million tirée dans le cadre d'un prêt à terme, qui devrait financer les opérations jusqu'au premier trimestre 2026, sous réserve des procédures de clôture finale.

IO Biotech veröffentlichte Topline-Ergebnisse der Phase-3-Studie IOB-013, in der Cylembio plus Pembrolizumab versus Pembrolizumab allein als Erstlinienbehandlung bei nicht resektablem oder metastasiertem Melanom untersucht wurde. Die randomisierte Studie schloss 407 Patienten ein (203 Kombination, 204 Monotherapie). Der primäre Endpunkt, das progressionsfreie Überleben (PFS) bewertet durch ein verblindetes unabhängiges Review nach RECIST v1.1, zeigte eine frühe und anhaltende Trennung mit einem Hazard Ratio (HR) von 0.77 (95% CI: 0.58â€�1.00; p=0.056) und einer medianen PFS von 19.4 Monaten ²µ±ð²µ±ð²Ôü²ú±ð°ù 11.0 Monaten. Das primäre Ergebnis verfehlte die vorab festgelegte Signifikanzgrenze.

Bemerkenswerte Subgruppenbefunde umfassen einen ausgeprägten Nutzen bei PD-L1-negativen Tumoren (HR 0.54; mPFS 16.6 vs 3.0 Monate; nominal p=0.006) und bei Patienten ohne vorherige Anti–PD-1-Therapie (post-hoc HR 0.74; mPFS 24.8 vs 11.0 Monate; nominal p=0.037). Die Gesamtüberlebens-Trends waren vorteilhaft, aber noch nicht ausgereift (HR 0.79; 95% CI: 0.57�1.10). Die Kombination war insgesamt gut verträglich; Reaktionen an der Injektionsstelle waren am häufigsten (bei 56% der Patienten in der Kombinationsgruppe berichtet) und klangen während der Behandlung ab. Das Unternehmen plant behördliche Gespräche zu einer möglichen BLA und wird detailliertere Daten präsentieren. Es gab einen geschätzten Kassenbestand von ungefähr $28.1 million zuzüglich einer unter einem Terminkredit abgerufenen Tranche von �12.5 million, die voraussichtlich die Geschäftstätigkeit bis ins erste Quartal 2026 finanzieren wird, vorbehaltlich der endgültigen Abschlussverfahren.

false 0001865494 0001865494 2025-08-11 2025-08-11
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 11, 2025

 

 

IO BIOTECH, INC.

(Exact name of Registrant as Specified in its Charter)

 

 

 

Delaware   001-41008   87-0909276
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

Ole Maaløes Vej 3
DK-2200 Copenhagen N
Denmark
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: +45 7070 2980

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common Stock, par value $0.001 per share   IOBT   The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 
 


Item 2.02.

Results of Operations and Financial Condition.

As discussed below, IO Biotech, Inc., a Delaware corporation (the “Company”), is hosting a conference call and webcast, during which the Company will make a slide presentation. In the slide presentation, the Company is disclosing an estimated cash and cash equivalents balance of approximately $28.1 million as of June 30, 2025, and further disclosing that the Company estimates that these cash and cash equivalents, plus the €12.5 million drawn on July 4, 2025 from the second tranche of the term loan facility with the European Investment Bank, will be sufficient to meet its working capital requirements into the first quarter of 2026.

Because the Company’s financial closing procedures as of and for the six months ended June 30, 2025, are not yet complete, its final results upon completion of those procedures may differ materially from its preliminary estimate. Accordingly, you should not place undue reliance on this preliminary estimate.

 

Item 7.01.

Regulation FD Disclosure.

On August 11, 2025, the Company issued a press release announcing topline results from IOB-013, the Company’s Phase 3 trial of Cylembio® in combination with pembrolizumab as a first-line treatment for patients with unresectable or metastatic (advanced) melanoma. The Company is hosting a conference call and webcast at 8:30 am Eastern Time, on August 11, 2025, during which the Company will discuss the topline results and will make a slide presentation.

The press release is attached as Exhibit 99.1 and the form of slide presentation is attached as Exhibit 99.2, and each is incorporated into this Item 8.01 by reference.

The information contained in this Current Report on Form 8-K is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 8.01.

Other Events

The randomized, open-label study enrolled 407 patients across more than 100 sites worldwide. Patients received either Cylembio in combination with pembrolizumab (n=203) or pembrolizumab alone (n=204). The primary endpoint was PFS as assessed by a blinded independent review committee per RECIST v1.1. The early and sustained separation of PFS curves demonstrated an improvement with a hazard ratio of 0.77 [95% CI: 0.58-1.00; p=0.056; threshold for significance p≤0.045]. Based on an intent-to-treat analysis, patients in the study treated with Cylembio in combination with pembrolizumab achieved 19.4 months of median progression free survival compared to 11.0 months in patients treated with pembrolizumab alone. Although not yet mature, a trend toward an improvement in overall survival was also observed [HR 0.79 (95% CI: 0.57-1.10)]; the company expects OS to mature over the next six to nine months. Improvement in PFS was achieved across virtually all subgroups, including those with poor prognostic factors, with a profound effect in patients with PD-L1 negative tumors treated with Cylembio plus pembrolizumab (n=67) compared to patients treated with pembrolizumab monotherapy (n=63), HR: 0.54 (CI 0.35-0.85) (nominal p=0.006), with mPFS of 16.6 months vs. 3.0 months, respectively. Additionally, in a post hoc analysis of patients enrolled in this study without prior anti-PD-1 treatment (n=371), patients treated with Cylembio plus pembrolizumab achieved improvement in PFS compared to patients treated with pembrolizumab monotherapy, HR: 0.74 (CI 0.56-0.98) (nominal p=0.037), with mPFS of 24.8 months vs. 11.0 months, respectively. The combination was well tolerated, with no new safety signals observed. Injection site reactions, which were transient and resolved on treatment, were the most commonly reported adverse events in the combination arm, with 56% of patients receiving Cylembio plus pembrolizumab reporting an event. Based on these results, the Company plans to meet with the regulatory authorities to discuss the totality of data and determine next steps for submission of a Biologics License Application (BLA) for the treatment of advanced melanoma to the U.S. Food and Drug Administration (FDA). Additionally, the Company plans to present more detailed results from the IOB-013 study at an upcoming medical meeting.

 


Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit

Number

   Exhibit Description
99.1    IO Biotech, Inc. Press Release, dated as of August 11, 2025
99.2    IO Biotech, Inc. Presentation
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    IO BIOTECH, INC.
Date: August 11, 2025     By:  

/s/ Mai-Britt Zocca, Ph.D.

    Name:   Mai-Britt Zocca, Ph.D.
    Title:   Chief Executive Officer

FAQ

What were the primary topline results from IO Biotech (IOBT) Phase 3 IOB-013 trial?

The trial showed median PFS of 19.4 months for Cylembio plus pembrolizumab versus 11.0 months for pembrolizumab alone, with an overall HR of 0.77 (95% CI: 0.58�1.00; p=0.056).

Did IOB-013 meet its primary endpoint?

No. The primary PFS endpoint narrowly missed the prespecified significance threshold (p=0.056; threshold p�0.045).

Were any subgroups showing stronger benefit in the IOB-013 study?

Yes. PD-L1 negative patients showed HR 0.54 with mPFS 16.6 vs 3.0 months (nominal p=0.006); a post hoc anti–PD-1 naive subgroup showed HR 0.74 with mPFS 24.8 vs 11.0 months (nominal p=0.037).

What did the company report about overall survival (OS)?

OS showed a favorable trend (HR 0.79; 95% CI: 0.57�1.10) but is not yet mature and is expected to mature over the next six to nine months.

What safety findings were reported for the combination treatment?

The combination was generally well tolerated; no new safety signals were observed and injection site reactions were the most common event (reported in 56% of combination arm patients) and resolved on treatment.

How long is IO Biotech's reported cash runway expected to last?

Estimated cash and cash equivalents of ~$28.1 million plus a �12.5 million tranche drawn under a term loan are expected to fund working capital into the first quarter of 2026, subject to final closing procedures.
Io Biotech, Inc.

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