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Jun 30, 2020
iTeos Therapeutics Q2 2020 Earnings Report
Reported financial results for the second quarter ended June 30, 2020 and provided recent business highlights.
Key Takeaways
iTeos Therapeutics reported its Q2 2020 financial results, highlighting the completion of its IPO in July, which provided $210.6 million in net proceeds and extends the company's cash runway into 2023. Clinical trials for EOS-850 and EOS-448 are ongoing, with initial data expected in the first half of 2021.
Completed IPO in July 2020, raising $229.7 million in gross proceeds.
Net proceeds from the IPO were $210.6 million, extending cash runway into 2023.
Enrollment continues in Phase 1/2a clinical trials for EOS-850 and EOS-448.
Initial data from monotherapy and combination therapy cohorts of EOS-850 and EOS-448 expected in the first half of 2021.
iTeos Therapeutics
iTeos Therapeutics
Forward Guidance
iTeos anticipates a data-rich year in 2021 with trials ongoing for EOS-850 and EOS-448 and hopes to leverage its understanding of immune pathways to identify novel product candidates.
Positive Outlook
- Advancement of immunotherapy pipeline.
- Ongoing trials for lead product candidates.
- Potential for data-rich year in 2021.
- Leveraging understanding of immune pathways.
- Identification of novel product candidates.
Challenges Ahead
- Uncertainties inherent in clinical studies.
- Availability and timing of data from ongoing clinical trials.
- Risk of interim results not being predictive of final results.
- Uncertainties related to collaborations and strategic relationships.
- Impact of the COVID-19 pandemic.