Why Are IO Biotech Shares Trading Lower Today
Portfolio Pulse from Vandana Singh
IO Biotech has randomized 225 patients in its global Phase 3 clinical trial for IO102-IO103, in combination with Merck's Keytruda, in patients with advanced melanoma. The company plans to increase the number of patients enrolled by 80 to 380, potentially accelerating the time to reach the primary endpoint of progression-free survival. IOBT shares are down 27.40%.
June 14, 2023 | 2:42 pm
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NEGATIVE IMPACT
IO Biotech's shares are down 27.40% after announcing the enrollment of 225 patients in its global Phase 3 clinical trial for IO102-IO103, in combination with Merck's Keytruda.
IO Biotech's shares are trading lower due to the announcement of the enrollment of 225 patients in its global Phase 3 clinical trial for IO102-IO103, in combination with Merck's Keytruda. The market may be reacting to the uncertainty surrounding the trial's outcome and the potential impact on the company's future prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Merck's Keytruda is being used in combination with IO Biotech's IO102-IO103 in a global Phase 3 clinical trial for patients with advanced melanoma.
Merck's Keytruda is being used in combination with IO Biotech's IO102-IO103 in a global Phase 3 clinical trial for patients with advanced melanoma. While this collaboration could potentially benefit Merck in the long run, the short-term impact on its stock price is likely to be neutral as the trial's outcome is still uncertain.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60