Company: IOBT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047744
Chunk: 142

Company: IO Biotech, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 142
---
526

    —

    —

    6,526

    Foreign currency translation

    —

    —

    —

    2,818

    —

    2,818

    Net loss

    —

    —

    —

    —

    (95,491
    )

    (95,491
    )

    Balance, December 31, 2024

    65,880,914

    $
    66

    $
    413,113

    $
    (6,851
    )
     
    $
    (359,313
    )
     
    $
    47,015

See accompanying notes to the consolidated financial statements. 

145

io biotech, inc. 

Consolidated Statements of Cash Flows 

(In thousands) 

    Year EndedDecember 31,

    2024

    2023

    Cash flows from operating activities

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

    Adjustment to reconcile net loss to net cash used in operating activities

    Depreciation

    253

    215

    Equity-based compensation

    6,526

    8,059

    Amortization of right of use lease asset

    596

    541

    Foreign currency loss (gain)

    3,589

    (331
    )

    Changes in operating assets and liabilities

    Prepaid expenses and other current assets

    (858
    )

    1,568

    Other non-current assets

    (29
    )

    (4
    )

    Accounts payable

    782

    (126
    )

    Lease liability

    (639
    )

    (604
    )

    Accrued expenses and other current liabilities

    2,924

    5,028

    Net cash used in operating activities

    (82,347
    )

    (71,737
    )

    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