IOBT

Company Overview — What Does IO Biotech, Inc. Do?

IO Biotech, Inc., a clinical-stage biopharmaceutical company, develops immune-modulating cancer therapies based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive proteins, such as Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 2 clinical trial to treat melanoma, as well as in phase 1 clinical trial to treat lung, head and neck, bladder, and melanoma cancer. It also develops IO112, a product candidate that contains a single Arginase 1-derived peptide designed to target T cells that recognize epitopes derived from Arginase 1 for the treatment of cancers. The company was incorporated in 2014 and is based in Copenhagen, Denmark. IO Biotech, Inc. (IOBT) is classified as a micro-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Mai-Britt Zocca and employs approximately 30 people. With a market capitalization of $3M, IOBT is one of the notable companies in the Healthcare sector.

IO Biotech, Inc. (IOBT) Stock Rating — Avoid (April 2026)

As of April 2026, IO Biotech, Inc. receives a Avoid rating with a composite score of 17.8/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.IOBT ranks #4,287 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, IO Biotech, Inc. ranks #779 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

IOBT Stock Price and 52-Week Range

IO Biotech, Inc. (IOBT) currently trades at $0.18. The stock gained $0.01 (4.8%) in the most recent trading session. The 52-week high for IOBT is $2.79, which means the stock is currently trading -93.4% from its annual peak. The 52-week low is $0.14, putting the stock 30.8% above its annual trough. Recent trading volume was 1.5M shares, reflecting moderate market activity.

Is IOBT Overvalued or Undervalued? — Valuation Analysis

IO Biotech, Inc. (IOBT) carries a value factor score of 7/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 3.79x, versus the sector average of 2.75x.

At current multiples, IO Biotech, Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

IO Biotech, Inc. Profitability — ROE, Margins, and Quality Score

IO Biotech, Inc. (IOBT) earns a quality factor score of 9/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -8894.7%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -202.8% versus the sector average of -33.1%.

Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

IOBT Debt, Balance Sheet, and Financial Health

IO Biotech, Inc. has a debt-to-equity ratio of 4286.0%, compared to the Healthcare sector average of 32.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 2.01x, indicating strong short-term liquidity. Total debt on the balance sheet is $17M. Cash and equivalents stand at $31M.

IOBT has a beta of -0.12, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for IO Biotech, Inc. is 29/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

IO Biotech, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, IO Biotech, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.13. Net income for the quarter was $-81M. Operating income came in at $-92M.

In Q3 2025, IO Biotech, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.13. Net income for the quarter was $-8M. Operating income came in at $-19M.

In Q2 2025, IO Biotech, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.40. Net income for the quarter was $-26M. Operating income came in at $-23M.

In Q1 2025, IO Biotech, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.34. Net income for the quarter was $-22M. Operating income came in at $-23M.

Over the past 8 quarters, IO Biotech, Inc. has experienced revenue contraction from $0 to $0. Investors analyzing IOBT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

IOBT Dividend Yield and Income Analysis

IO Biotech, Inc. (IOBT) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

IOBT Momentum and Technical Analysis Profile

IO Biotech, Inc. (IOBT) has a momentum factor score of 8/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 69/100 reflects moderate short selling activity.

IOBT vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, IO Biotech, Inc. (IOBT) ranks #779 out of 838 stocks based on the Blank Capital composite score. This places IOBT in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing IOBT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full IOBT vs S&P 500 (SPY) comparison to assess how IO Biotech, Inc. stacks up against the broader market across all factor dimensions.

IOBT Next Earnings Date

No upcoming earnings date has been announced for IO Biotech, Inc. (IOBT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy IOBT? — Investment Thesis Summary

The quantitative profile for IO Biotech, Inc. suggests caution. The quality score of 9/100 flags below-average profitability. The value score of 7/100 indicates premium valuation. Momentum is weak at 8/100, a headwind for near-term performance. High volatility (stability score 29/100) increases portfolio risk.

In summary, IO Biotech, Inc. (IOBT) earns a Avoid rating with a composite score of 17.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on IOBT stock.

Related Resources for IOBT Investors

Explore more research and tools: IOBT vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare IOBT head-to-head with peers: IOBT vs AZN, IOBT vs SLGL, IOBT vs VMD.