Piper Sandler Downgrades IO Biotech Amid Strategic Uncertainty
Piper Sandler lowers IO Biotech to Neutral, citing strategic plans and capital limits, with a new price target of $0.50.
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Morgan Stanley Changes Ratings on RCUS, NRIX, IOBT
Morgan Stanley updates biotech views, downgrading Arcus and IO Biotech while upgrading Nurix on stronger pipeline prospects.
IO Biotech Restructuring After Cylembio BLA Rejection
IO Biotech won't submit its Cylembio cancer vaccine application after the FDA recommended against it due to trial results narrowly missing significance. IOBT will plan a new study and cut 50% of staff to save cash.