Wed, Mar 5, 12:08 PM (46 days ago)
**iTeos Therapeutics, Inc. (ITOS) - 10-K Summary** iTeos Therapeutics, a clinical-stage biopharmaceutical company, reported a net loss of $134.4 million for FY 2024, up from $112.6 million in FY 2023. Total revenue increased to $35.0 million, primarily from milestone payments related to the GSK Collaboration Agreement, which includes a $625 million upfront payment and potential milestones totaling $1.45 billion. R&D expenses rose to $145.4 million due to increased clinical activities, particularly for belrestotug, while general and administrative expenses decreased slightly to $49.1 million. Cash and equivalents stood at $142.1 million, with additional available-for-sale securities of $512.9 million. The company is advancing multiple clinical trials targeting key cancer resistance mechanisms, including belrestotug (anti-TIGIT), EOS-984 (ENT1 inhibitor), and EOS-215 (anti-TREM2). iTeos faces significant competition in immuno-oncology, and future success hinges on effective clinical trials, regulatory approvals, and strategic collaborations. Risks include reliance on third-party manufacturers, regulatory compliance, and potential patent disputes. The company remains focused on expanding its innovative pipeline and maintaining robust financial health amid ongoing development efforts.