Company: IOBT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047744
Chunk: 306

Company: IO Biotech, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 306
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 31, 2024 and 2023, we applied for refundable tax credit of 25.0 million DKK for the years ended December 31, 2024 and 2023 and a receivable was recorded for $0.8 million in each year, respectively. 

14. Net Loss Per Share Basic and diluted net loss per common share is calculated as follows (in thousands except share and per share amounts): 

        Year Ended December 31,

        2024

        2023

        Net loss
         
        $
        (95,491
        )
         
        $
        (86,083
        )

        Net loss attributable to common shareholders
         
        $
        (95,491
        )
         
        $
        (86,083
        )

        Net loss per common share, basic and diluted
         
        $
        (1.45
        )
         
        $
        (1.98
        )

        Weighted-average number of shares used in computing net loss per common share, basic and diluted

        65,880,914

        43,539,976

164

 The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per common share, as their effect is anti-dilutive:  

        December 31,

        2024

        2023

        Stock options to purchase common stock

        8,967,605

        5,851,923

        Warrants issued in Private Placement

        37,065,647

        37,065,647

15. SegmentsWe operate as a single operating segment focused on developing novel, immune-modulatory, off-the-shelf therapeutic cancer vaccines based on our T-win®  platform. As the CODM, our Chief Executive Officer manages our company, reviews operating results, assesses performance and allocates resources on an aggregate basis using consolidated net income or loss as the key measure of segment profit or loss. As such, results of our operations are reported on a consolidated basis for purposes of management and segment reporting. Please refer to the consolidated financial statements for further information related to these measures of segment performance.In addition, research and development and general and administrative expenses are significant segment expenses regularly provided to the CEO with the following categories (in thousands):Research and Development

        Year Ended December 31,

        2024

        2023

        (in thousands)

        Clinical trial-related activities