Tag Archives: IOBT

IO Biotech (IOBT), mcap=$114m, price $3.88 vs $4.20

Biopharma developing drug for metastatic melanoma at 35% discount to net cash. Sold-off 70% together with biopharma index $XBI, despite very positive company-specific news. Early study data published in Nature are outstanding and significantly exceed the current standard of care in terms of efficacy and durability. Phase 3 trial began recently. Current burn rate at $20 with $188m of cash on the balance – providing run-away into 2024.