iTeos Therapeutics Q2 2020 Earnings Report
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.