IO Biotech, Inc.

IO Biotech, Inc. (IOBT) priced its initial public offering on Nov 8, 2021 at $14.00 per share, within its $14.00–$17.00 range, raising $100.1M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $388.4M. Morgan Stanley was lead-left underwriter, joined by Jefferies and TD Cowen. Sidley Austin advised the company and Latham & Watkins advised the underwriters.

IO Biotech, Inc. is a clinical-stage biopharmaceutical company developing immune-modulating cancer therapies on its T-win platform. Its lead candidate, IO102-IO103, is designed to target immunosuppressive mechanisms that tumors use to evade the immune system.

Status

IPO

Ticker

IOBT

Exchange

Nasdaq Global Market

Priced

Nov 8, 2021

IPO price

$14.00

Price range

$14.00–$17.00

Raised

$100.1M

Market cap at IPO price

$388.4M

First filed

Oct 15, 2021

Underwriters

Morgan Stanley, Jefferies and TD Cowen

Company counsel

Sidley Austin

Underwriters' counsel

Latham & Watkins

Sector

Biotech & pharma

Country / state

Denmark

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.