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ITOS ITeos Therapeutics

iTeos Therapeutics is a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of highly differentiated immuno-oncology therapeutics for patients. iTeos Therapeutics leverages its deep understanding of cancer immunology and immunosuppressive pathways to design novel product candidates with the potential to fully restore the immune response against cancer. The Company’s innovative pipeline includes two clinical-stage programs targeting novel, validated immuno-oncology pathways designed with optimized pharmacologic properties for improved clinical outcomes. The initial antibody product candidate, EOS-448, is a high affinity, potent, anti-TIGIT antibody with a functional Fc domain, designed to enhance the anti-tumor response through a multifaceted immune modulatory mechanism. An open-label Phase 1/2a clinical trial of EOS-448 is ongoing in adult cancer patients with advanced solid tumors with preliminary data indicating clinical activity as a monotherapy and a favorable tolerability profile. The Company is also advancing inupadenant, a next-generation adenosine A2A receptor antagonist tailored to overcome cancer immunosuppression. iTeos is conducting an open-label multi-arm Phase 1/2a clinical trial of inupadenant in adult cancer patients with advanced solid tumors. Preliminary results indicate encouraging single-agent activity in the dose escalation portion of the trial. iTeos Therapeutics is headquartered in Cambridge, MA with a research center in Gosselies, Belgium.

Company profile

Ticker
ITOS
Exchange
CEO
Michel Detheux
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
iTeos Therapeutics S.A. • iTeos Securities Corporation ...

ITOS stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 Aug 21
26 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 303.07M 303.07M 303.07M 303.07M 303.07M 303.07M
Cash burn (monthly) 6.15M (positive/no burn) 9.78M 6.37M 63K 1.25M
Cash used (since last report) 24.01M n/a 38.18M 24.89M 245.98K 4.87M
Cash remaining 279.06M n/a 264.89M 278.18M 302.83M 298.2M
Runway (months of cash) 45.4 n/a 27.1 43.6 4806.8 238.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Oct 21 Michel Detheux Common Stock Sell Dispose S No Yes 28.0001 196 5.49K 96,994
19 Oct 21 Michel Detheux Common Stock Sell Dispose S No Yes 28 201 5.63K 97,190
18 Oct 21 Gadicke Ansbert Common Stock Sell Dispose S Yes Yes 27.14 10,320 280.08K 5,137,214
18 Oct 21 MPM BioVentures 2014 Common Stock Sell Dispose S Yes Yes 27.14 6,167 167.37K 3,134,991
18 Oct 21 MPM Bioventures 2018 Common Stock Sell Dispose S Yes Yes 27.14 6,167 167.37K 3,134,991
15 Oct 21 Gadicke Ansbert Common Stock Sell Dispose S Yes Yes 28.01 3,413 95.6K 5,147,534
15 Oct 21 Gadicke Ansbert Common Stock Sell Dispose S Yes Yes 27.53 14,882 409.7K 5,150,947
15 Oct 21 MPM BioVentures 2014 Common Stock Sell Dispose S Yes Yes 28.01 2,039 57.11K 3,141,158
15 Oct 21 MPM BioVentures 2014 Common Stock Sell Dispose S Yes Yes 27.53 8,893 244.82K 3,143,197
15 Oct 21 MPM Bioventures 2018 Common Stock Sell Dispose S Yes Yes 28.01 2,039 57.11K 3,141,158

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

83.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 82 81 +1.2%
Opened positions 22 19 +15.8%
Closed positions 21 9 +133.3%
Increased positions 29 34 -14.7%
Reduced positions 23 14 +64.3%
13F shares
Current Prev Q Change
Total value 755.79M 1.07B -29.1%
Total shares 29.47M 30.08M -2.0%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Ra Capital Management 4.42M $113.3M +0.0%
Boxer Capital 4.35M $111.45M 0.0%
MPM Asset Management 3.67M $94.03M -1.1%
MPM Oncology Impact Management 2.34M $59.99M -0.7%
RTW Investments 1.72M $44.03M -37.9%
BLK Blackrock 1.52M $38.91M -1.1%
Alliancebernstein 1.36M $34.76M +15.8%
JHG Janus Henderson 1.06M $27.1M -9.9%
EcoR1 Capital 1.04M $26.57M +298.4%
Citadel Advisors 994.4K $25.51M +94.6%
Largest transactions
Shares Bought/sold Change
Adage Capital Partners GP, L.L.C. 56.89K -1.2M -95.5%
RTW Investments 1.72M -1.05M -37.9%
EcoR1 Capital 1.04M +775.86K +298.4%
Cowen And 0 -588.24K EXIT
Candriam Luxembourg S.C.A. 504.89K +504.87K +2804844.4%
Citadel Advisors 994.4K +483.4K +94.6%
C Citigroup 432.48K +397.18K +1125.1%
STT State Street 318.17K -384.84K -54.7%
Ally Bridge 0 -322.79K EXIT
Partner Fund Management 0 -232.22K EXIT

Financial report summary

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Risks
  • We will not be able to commercialize our current product candidates and any future product candidates if our preclinical studies do not produce successful results or our clinical trials do not demonstrate the safety and efficacy of our current or future product candidates.
  • We may find it difficult to enroll patients in our current and/or future clinical trials, which could delay or prevent clinical trials of our product candidates.
  • We anticipate that our current product candidates and any future product candidates will be used in combination with third-party drugs or biologics, some of which are still in development, and we have limited or no control over the supply, regulatory status, or regulatory approval of such drugs or biologics.
  • We may expend our limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • Interim “top-line” and preliminary results from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • We may not be able to file Investigational New Drug, or IND, applications or IND amendments to commence additional clinical trials on the timelines we expect, and even if we are able to, the FDA or a comparable foreign regulatory may not permit us to proceed.
  • We are conducting clinical trials for product candidates outside the United States, and the FDA and comparable foreign regulatory authorities may not accept data from such trials.
  • As an organization, we have never conducted pivotal clinical trials, and we may be unable to do so for any product candidates we may develop.
  • We face significant competition from other biopharmaceutical and biotechnology companies, academic institutions, government agencies, and other research organizations, which may result in others discovering, developing or commercializing products more quickly or marketing them more successfully than us. If their product candidates are shown to be safer or more effective than ours, our commercial opportunity may be reduced or eliminated.
  • The size of the potential market for our current product candidates or any future product candidates is difficult to estimate and, if any of our assumptions are inaccurate, the actual markets for our current product candidates or any future product candidates may be smaller than our estimates.
  • Negative developments in the field of immuno-oncology could damage public perception of our current or future product candidates and negatively affect our business.
  • Even if our development efforts are successful, we may not obtain regulatory approval for any of our current product candidates or any future product candidates in the United States or other jurisdictions, which would prevent us from commercializing our current product candidates and any future product candidates. Even if we obtain regulatory approval for our current product candidates and any future product candidates, any such approval may be subject to limitations, including with respect to the approved indications or patient populations, which could impair our ability to successfully commercialize our current product candidates or any future product candidates.
  • The regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time consuming and inherently unpredictable. If we are not able to obtain, or experience delays in obtaining, required regulatory approvals, we will not be able to commercialize our current product candidates and any future product candidates as expected, and our ability to generate revenue may be materially impaired.
  • The FDA or a comparable foreign regulatory authority may determine that our current product candidates and any future product candidates have serious adverse events or undesirable side effects that could delay or prevent their regulatory approval or commercialization.
  • Regulatory approval by the FDA or comparable foreign regulatory authorities is limited to those specific indications and conditions for which approval has been granted, and we may be subject to substantial fines, criminal penalties, injunctions, or other enforcement actions if we are determined to be promoting the use of our products for unapproved or “off-label” uses, or in a manner inconsistent with the approved labeling, resulting in damage to our reputation and business.
  • We may in the future seek orphan drug status for our current or future product candidates, but we may be unable to obtain such designations or to maintain the benefits associated with orphan drug status, including market exclusivity, which may cause our revenue, if any, to be reduced.
  • We may pursue Fast Track or Breakthrough Therapy designation by FDA. These designations may not actually lead to a faster development or regulatory review or approval process, and they do not assure FDA approval of any product candidates we may develop.
  • If we are unable to successfully validate, develop and obtain regulatory approval for companion diagnostic tests for our product candidates that require or would commercially benefit from such tests, or experience significant delays in doing so, we may not realize the full commercial potential of these product candidates.
  • Even if we are able to commercialize any current product candidates or any future product candidates, such drugs and biologics may become subject to unfavorable pricing regulations or third-party coverage and reimbursement policies, which would harm our business.
  • Healthcare legislative reform measures may have a material adverse effect on our business and results of operations.
  • If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
  • Our business activities will be subject to the Foreign Corrupt Practices Act, or FCPA, and similar anti-bribery and anti-corruption laws.
  • We rely on third parties to conduct our clinical trials and perform some of our research and preclinical studies. If these third parties do not satisfactorily carry out their contractual duties or fail to meet expected deadlines, our development programs may be delayed or subject to increased costs, each of which may have an adverse effect on our business and prospects.
  • We may form or seek collaborations or strategic alliances or enter into additional licensing arrangements in the future, and we may not realize the benefits of such collaborations, alliances or licensing arrangements.
  • We rely on third parties to manufacture our product candidates, and we expect to continue to rely on third parties for the clinical as well as any future commercial supply of our product candidates and other future product candidates. The development of our current and future product candidates, and the commercialization of any approved products, could be stopped, delayed or made less profitable if any such third party fails to provide us with sufficient clinical or commercial quantities of such product candidates or products, fails to do so at acceptable quality levels or prices or fails to achieve or maintain satisfactory regulatory compliance.
  • The manufacture of biologics is complex and our third-party manufacturers may encounter difficulties in production. If any of our third-party manufacturers encounter such difficulties, our ability to provide supply of our current product candidates or any future product candidates for clinical trials or our products for patients, if approved, could be delayed or prevented.
  • Our reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover them or that our trade secrets will be misappropriated or disclosed.
  • Our limited operating history may make it difficult for you to evaluate the success of our business to date and to assess our future viability.
  • We have never generated any revenue from product sales and may never be profitable.
  • We will require substantial additional financing to achieve our goals, and a failure to obtain this necessary capital when needed on acceptable terms, or at all, could force us to delay, limit, reduce or terminate our product development or commercialization efforts.
  • If we are unable to obtain and maintain sufficient intellectual property protection for our current product candidates or any future product candidates, or if the scope of the intellectual property protection is not sufficiently broad, our competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize our products may be adversely affected.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent which might adversely affect our ability to develop and market our products.
  • In the future, we may need to obtain additional licenses of third-party technology that may not be available to us or are available only on commercially unreasonable terms, and which may cause us to operate our business in a more costly or otherwise adverse manner that was not anticipated.
  • We may not be able to protect our intellectual property rights throughout the world.
  • We may rely on trade secret and proprietary know-how which can be difficult to trace and enforce and, if we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • We may become involved in lawsuits alleging that we have infringed the intellectual property rights of third parties or to protect or enforce our patents or other intellectual property, which litigation could be expensive, time consuming and adversely affect our ability to develop or commercialize our current product candidates or any future product candidates.
  • Because of the expense and uncertainty of litigation, we may not be in a position to enforce our intellectual property rights against third parties.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
  • We may become subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • If the current public health pandemic related to coronavirus (COVID-19) continues to worsen, our operations, business and financial results may be adversely impacted.
  • We expect to expand our development, regulatory and operational capabilities and, as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
  • We are highly dependent on our key personnel, and if we are not successful in attracting and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
  • Our employees, clinical trial investigators, CROs, consultants, vendors and any potential commercial partners may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
  • We may be unable to adequately protect our information systems from cyberattacks, which could result in the disclosure of confidential or proprietary information, including personal data, damage our reputation, and subject us to significant financial and legal exposure.
  • Unfavorable global economic and trade conditions could adversely affect our business, financial condition or results of operations.
  • A portion of our manufacturing of our lead product candidates takes place in China through third-party manufacturers. A significant disruption in the operation of those manufacturers, a trade war or political unrest in China could materially adversely affect our business, financial condition and results of operations.
  • Our future growth may depend, in part, on our ability to operate in foreign markets, where we would be subject to additional regulatory burdens and other risks and uncertainties.
  • The United Kingdom’s withdrawal from the European Union may have a negative effect on global economic conditions, financial markets and our business.
  • We may be exposed to significant foreign exchange risk.
  • United States federal income tax reform could adversely affect our business and financial condition.
  • Our ability to use our United States net operating loss carryforwards and certain other United States tax attributes may be limited.
  • We are exposed to unanticipated changes in Belgian tax laws and regulations, as well as to adjustments to our Belgian tax provisions, exposure to additional tax liabilities in Belgium, or forfeiture of our Belgian tax assets.
  • If we are unable to use Belgian tax loss carryforwards to reduce future taxable income or benefit from the favorable Belgian tax legislation, our business, results of operations and financial condition may be adversely affected.
  • We are subject to certain covenants as a result of certain non-dilutive financial support we have received to date.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and could limit our commercialization of any product candidates that we may develop.
  • We may be at an increased risk of securities class action litigation.
  • We do not know whether an active, liquid and orderly trading market will develop for our common stock or what the market price of our common stock will be and, as a result, it may be difficult for our stockholders to sell shares of our common stock.
  • The trading price of our common stock may be volatile.
  • Raising additional capital and future issuances of our common stock or rights to purchase common stock could result in additional dilution of the percentage ownership of our stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidate, and could cause our stock price to fall.
  • We do not intend to pay dividends on our common stock, so any returns will be limited to the value of our stock.
  • We are an emerging growth company and a smaller reporting company, and the reduced disclosure requirements applicable to emerging growth companies and smaller reporting companies may make our common stock less attractive to investors.
  • We incur significant increased costs as a result of operating as a public company, and our management is required to devote substantial time to new compliance initiatives.
  • We have broad discretion over the use of our cash and cash equivalents and may not use them effectively.
  • Anti-takeover provisions under our charter documents and Delaware law could delay or prevent a change of control, which could limit the market price of our common stock and may prevent or frustrate attempts by our stockholders to replace or remove our current management.
  • If we fail to establish and maintain proper and effective internal control over financial reporting, our operating results and our ability to operate our business could be harmed.
  • Special note regarding forward-looking statements
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • We are a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of highly differentiated immuno-oncology therapeutics for patients. We leverage our deep understanding of the tumor microenvironment and immunosuppressive pathways to design novel product candidates with an aim to improve the clinical benefit of oncology therapies. Our innovative pipeline includes two clinical-stage programs targeting novel, validated immuno-oncology pathways designed to build on prior learnings in the field to have differentiated pharmacological and clinical profiles. Our most advanced product candidate, inupadenant, formerly referred to as EOS-850, is designed as a highly selective small molecule antagonist of the adenosine A2a receptor, or A2AR, in the adenosine  pathway, a key driver of immunosuppression in the tumor microenvironment across a broad range of tumors. We are investigating inupadenant in an open-label multi-arm Phase 1/2a clinical trial in adult cancer patients with advanced solid tumors and in the dose escalation portion of the trial the drug has shown encouraging preliminary single-agent activity.  In addition to the single-agent cohort, we commenced dosing in the second cohort evaluating inupadenent in combination with pembrolizumab. We expect to report additional data from monotherapy expansion cohorts later in 2021. Our lead antibody product candidate, EOS-448, is an antagonist of TIGIT, an immune checkpoint with multiple mechanisms of action leading to immunosuppression.   EOS-448 was also selected to engage the Fc gamma receptor, or FcγR, to activate dendritic cells and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC, activity. In 2020 we enrolled an open-label Phase 1/2a clinical trial of EOS-448 in adult cancer patients with advanced solid tumors and we will report initial safety, efficacy, and pharmacodynamic data in the first half of 2021. We are using our expertise in tumor immunology to select additional targets for other novel, differentiated programs. We continue to progress research programs focused on additional targets that complement our A2AR and TIGIT programs.  We are optimizing our screening and selection process to identify potential candidates and expect to nominate an additional product candidate for Investigational New Drug, of IND, enabling studies before the end of 2021. We retain worldwide rights to develop and commercialize all of our product candidates.
  • Since our inception in August 2011, we have devoted substantially all of our resources to organizing and staffing our company, business planning, raising capital, conducting discovery and research activities, filing patent applications, identifying potential product candidates, undertaking preclinical studies and clinical trials and establishing arrangements with third parties for the manufacture of initial quantities of our product candidates and component materials. To date, we have not generated any revenue from product sales and have financed our operations primarily through our initial public offering (IPO). Through December 31, 2020, we had raised an aggregate of $210.6 million of net proceeds from the IPO and $177.1 million from the sale of preferred stock. As of December 31, 2020, our principal source of liquidity was cash and cash equivalents, which totaled $336.3 million.
Content analysis
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Positive
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Legalese
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H.S. junior Avg
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