IO Biotech (IOBT – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Emily Bodnar from H.C. Wainwright remains neutral on the stock and has a $8.00 price target.
Emily Bodnar from H.C. Wainwright has given IO Biotech a Buy rating primarily due to the encouraging results from the ongoing Phase 2 study of IO102-IO103 combined with Pembro. Based on the data presented on October 23, this combination therapy has shown a continued increase in efficacy and potential for synergy over Pembro alone in treating Non-Small Cell Lung Cancer (NSCLC) and Squamous Cell Carcinoma of the Head and Neck (SCCHN). Particularly, the improvement in Overall Response Rate (ORR) as more patients are enrolled, reflects positively on the potential of IO102-IO103 to enhance Pembro, which has an ORR of 45% in the KEYNOTE-024 study and 39% in the KEYNOTE-042 study.
Furthermore, Bodnar’s optimism is fueled by the safety consistency of the study. The safety profile of the study remains in line with the expected safety of Pembro alone, with no significant systemic toxicity observed. The most common treatment-related adverse events were injection site reactions, fatigue, and rash. Additionally, there is an expectation that new updates in 2024 will provide more mature data and durability information, which could further cement the position of IO102-IO103 + Pembro as an effective treatment option. Thus, Bodnar’s Buy rating is grounded on the promising preliminary data, the safety consistency, and the potential for enhanced efficacy in future updates.
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IO Biotech (IOBT) Company Description:
IO Biotech Inc is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on T-win technology platform. The product candidates are designed to induce the immune system to simultaneously target and disrupt multiple pathways that regulate tumor-induced immunosuppression.
Read More on IOBT:
- Encouraging Preliminary Data from a Phase 2 Trial Evaluating IO102-IO103 in Combination with Pembrolizumab for First-line Treatment of Patients with Non-small Cell Lung Cancer and Squamous Cell Carcinoma of the Head and Neck Presented at the European Society for Medical Oncology (ESMO) Congress
- IO Biotech Announces Three Poster Presentations at the Society for Immunotherapy of Cancer’s (SITC) 38th Annual Meeting
- IO Biotech initiated with an Overweight at Piper Sandler
- IO Biotech announces data related to IO102-IO103 in combination with KEYTRUDA
- IO Biotech Announces New Data Related to its IO102-IO103 Therapeutic Cancer Vaccine Presented Today at the IASLC 2023 World Conference on Lung Cancer
