Company: IOBT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047744
Chunk: 106

Company: IO Biotech, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 106
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INDEX TO CONSOLIDATED FINANCIAL STATEMENTS 

IO Biotech, Inc. 

    Page 

    Report of Independent Registered Public Accounting Firm (PCAOB ID 1757)
    142

    Audited Financial Statements as of and for the years ended December 31, 2024 and 2023

    Consolidated Balance Sheets
    143

    Consolidated Statements of Operations and Comprehensive Loss 
    144

    Consolidated Statements of Stockholders’ Equity 
    145

    Consolidated Statements of Cash Flows
    146

    Notes to the Consolidated Financial Statements
    147

141

Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Directors of IO Biotech, Inc. 

Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of IO Biotech, Inc. (the Company) as of December 31, 2024 and 2023, the related consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles. 

Basis for Opinion 

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. 

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting