Company: IOBT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047744
Chunk: 277

Company: IO Biotech, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 277
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    Cash flows from investing activities

    Purchase of property and equipment

    (44
    )

    (323
    )

    Net cash used in investing activities

    (44
    )

    (323
    )

    Cash flows from financing activities

    Proceeds from issuance of common shares and warrants

    —

    75,058

    Common shares and warrants issuance costs

    —

    (3,198
    )

    Net cash provided by financing activities

    —

    71,860

    Net decrease in cash, cash equivalents and restricted cash

    (82,391
    )

    (200
    )

    Effect of exchange rate changes on cash, cash equivalents and restricted cash

    (771
    )

    803

    Cash, cash equivalents and restricted cash, beginning of year

    143,461

    142,858

    Cash, cash equivalents and restricted cash, end of year
     
    $
    60,299

    $
    143,461

    Components of cash, cash equivalents, and restricted cash

    Cash and cash equivalents

    60,031

    143,193

    Restricted cash

    268

    268

          Total cash, cash equivalents, and restricted cash
     
    $
    60,299

    $
    143,461

See accompanying notes to the consolidated financial statements. 

146

io biotech, inc. 

Notes to the Consolidated Financial Statements

1. Description of Business, Organization and Liquidity Business IO Biotech, Inc. is a clinical-stage biopharmaceutical company developing novel, immune-modulatory, off-the-shelf therapeutic cancer vaccines based on our T-win® platform. As used in these financial statements, unless the context otherwise requires, references to the “Company,” “we,” “us,” and “our” refer to IO Biotech, Inc. and its subsidiaries. Corporate ReorganizationIO Biotech ApS was incorporated in Denmark in December 2014. In November 2021, we completed a corporate reorganization (the “Corporate Reorganization”) whereby IO Biotech ApS became a wholly-owned subsidiary of the Company. In connection with the corporate reorganization, each issued and outstanding Class A ordinary share ($0.16 par value) was exchanged on a one-for-one basis into shares of common stock of the Company ($0.001 par value). Each Class B and Class C preference share of IO Bi