IO Biotech Inc 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR 87-0909276(I.R.S. EmployerIdentification No.) Registrant’s telephone number, including area code:+457070 2980 Securities registered pursuant to Section 12(b) of the Act: Title of each classTradingSymbol(s)Name of each exchange on which registeredCommon Stock, par value $0.001 per shareIOBTTheNasdaq Stock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒Emerging growth company☒ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒As of August 11, 2025, the registrant had65,880,914shares of common stock, $0.001 par value per share, outstanding. Table of Contents PART I.FINANCIAL INFORMATIONItem 1.Interim Financial Statements (Unaudited)Consolidated Balance SheetsConsolidated Statements of Operations and Comprehensive LossConsolidated Statements of Stockholders’ EquityConsolidated Statements of Cash FlowsNotes to Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II.OTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws.All statements other than statements of historical fact contained in this Quarterly Report on Form 10-Q, including statementsregarding our future results of operations and financial position, business strategy and plans and objectives of management for futureoperations, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other importantfactors that may cause our actual results, performance or achievements to be materially different from any future results,performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “should,” “would,” “expects,” “plans,”“anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue”or the negative of these terms or other similar expressions. The forward-looking statements in this Quarterly Report on Form 10-Qare only predictions. We have based these forward-looking statements largely on our current expectations and projections aboutfuture events and financial trends that we believe may affect our business, financial condition and results of operations. Theseforward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q and are subject to a number of risks,uncertainties and assumptions described in the section titled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q, inour Annual Report on Form 10-K for the year ended December 31, 2024 and in our Quarterly Report on Form 10-Q for the quarterended March 31, 2025. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannotbe predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. The events andcircumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materiallyfrom those projected in the forward-looking statements. Some of the key factors that could caus