iTeos Therapeutics Q3 2020 Earnings Report

iTeos Therapeutics reported financial results for the third quarter ended September 30, 2020.

Key Takeaways

iTeos Therapeutics reported a net loss of $11.7 million for the third quarter of 2020, with a cash position of $340.0 million as of September 30, 2020. The company is focused on advancing its two lead candidates, EOS-850 and EOS-448, towards initial data readouts in the first half of 2021.

Patient enrollment continues in Phase 1/2 studies of EOS-850 A2AR antagonist and EOS-448 FCgR-enabled anti-TIGIT antibody with initial data expected in 1H21.

iTeos expects to nominate a new drug product candidate before the end of 2021.

Completed Initial Public Offering (IPO) raising $229.7 million in gross proceeds.

The Company’s cash and cash equivalent position was $340.0 million as of September 30, 2020.

EPS

-$0.48

Previous year: -$0.698