iTeos Therapeutics internal data periphery, in Monotherapy and in Combination with an anti-PD1 EOS-448 monotherapy (400mg) GSK partnership ideal collaboration Combined capabilities and portfolios to accelerate and expand development Strategic Importance Key Collaboration Terms ● iTeos retains full independence beyond TIGIT partner for EOS-448 non-squamous NSCLC (N=243) First wave of development underway in large indications U.S. annual incidence 1L NSCLC PD-L1 High 2. Additional novel doublets beyond PD-1 * ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (339) 217 0161 Securities registered pursuant to Section ...

[Preliminary Information](index=2&type=section&id=Preliminary%20Information) [Summary of Material Risks](index=2&type=section&id=Summary%20of%20material%20risks) The company faces significant risks in drug development, commercialization, and financial sustainability, including clinical trial uncertainties, third-party reliance, and competition - Successful commercialization is contingent on completing successful preclinical and clinical trials to demonstrate safety and efficacy[5](index=5&type=chunk) - The company relies on third parties for conducting clinical trials, manufacturing product candidates (e.g., CMOs), and for combination therapies, creating dependency risks[5](index=5&type=chunk) - Significant competition exists from other biopharmaceutical companies, which may develop or commercialize products more quickly or effectively[5](index=5&type=chunk) - The business is dependent on its collaboration with GSK for the development of EOS-448 and will require additional financing to achieve its long-term goals[5](index=5&type=chunk) [Special Note Regarding Forward-Looking Statements](index=3&type=section&id=Special%20note%20regarding%20forward-looking%20statements) This report includes forward-looking statements on clinical trials, regulatory approvals, and financial projections, subject to inherent risks and uncertainties - Forward-looking statements cover critical operational aspects such as the timing and success of clinical trials for EOS-448 and inupadenant, and the potential for regulatory approvals[9](index=9&type=chunk) - Statements address financial projections, including the sufficiency of existing capital resources, future expenses, and potential milestone and royalty payments from the GSK collaboration[9](index=9&type=chunk)[12](index=12&type=chunk) - The company warns that actual results could differ materially from these forward-looking statements due to various factors, including those listed in the 'Risk Factors' section[7](index=7&type=chunk)[10](index=10&type=chunk) [PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) Unaudited financial statements show a strong cash position from the GSK collaboration, increasing R&D expenses, and net income driven by deferred revenue recognition [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows **$752.2 million** in cash, a decrease in deferred revenue, and an increase in total stockholders' equity as of September 30, 2022 Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $752,243 | $848,537 | | Total current assets | $768,546 | $874,713 | | **Total assets** | **$777,873** | **$884,712** | | **Liabilities & Equity** | | | | Deferred revenue (current) | $66,500 | $280,225 | | Total current liabilities | $93,831 | $304,124 | | **Total liabilities** | **$143,674** | **$331,892** | | **Total stockholders' equity** | **$634,199** | **$552,820** | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29) Operations show increased license revenue and R&D expenses, resulting in a net income of **$76.2 million** for the nine months ended September 30, 2022 Statement of Operations Highlights (in thousands, except per share data) | Metric | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | License and collaboration revenue | $213,725 | $104,271 | | Research and development expenses | $71,938 | $41,983 | | General and administrative expenses | $32,846 | $30,907 | | Income from operations | $108,941 | $31,381 | | **Net income** | **$76,199** | **$29,649** | | **Basic net income per share** | **$2.14** | **$0.84** | | **Diluted net income per share** | **$2.01** | **$0.79** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash flow from operations shifted to a net usage of **$84.0 million** in 2022, reflecting operating expenses and deferred revenue recognition, leading to a **$96.4 million** cash decrease Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(84,020) | $571,956 | | Net cash used in investing activities | $(942) | $(1,081) | | Net cash provided by financing activities | $610 | $1,303 | | **Net decrease in cash, cash equivalents and restricted cash** | **$(96,366)** | **$563,450** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the GSK collaboration's financial impact, including a **$625 million** upfront payment and revenue recognition, alongside a **$40.9 million** unrecognized tax liability - The company's lead product candidates are EOS-448 (TIGIT antagonist) and inupadenant (A2A receptor antagonist)[28](index=28&type=chunk)[29](index=29&type=chunk)[31](index=31&type=chunk) - The GSK Collaboration Agreement, effective July 2021, included a **$625 million** upfront payment and potential for **$1.45 billion** in milestones. Development costs for EOS-448 are shared, with GSK responsible for **60%**[56](index=56&type=chunk)[60](index=60&type=chunk) - For the nine months ended Sep 30, 2022, the company recognized **$213.7 million** in revenue from the GSK agreement, with **$66.5 million** remaining as deferred revenue[66](index=66&type=chunk) - The company has an unrecognized tax liability of **$40.9 million** as of Sep 30, 2022, related to an uncertain tax position regarding the allocation of revenue between Belgium and the U.S[94](index=94&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses clinical pipeline progress, the financial impact of the GSK collaboration, increased R&D expenses, and a strong liquidity position projected to fund operations **into 2026** - The company is advancing two clinical-stage programs: EOS-448 (TIGIT antagonist) in collaboration with GSK, and inupadenant (A2AR antagonist)[108](index=108&type=chunk)[109](index=109&type=chunk)[113](index=113&type=chunk) - As of September 30, 2022, the company had cash and cash equivalents of **$752.2 million**, which management believes is sufficient to fund operations and capital expenditures **into 2026**[115](index=115&type=chunk)[162](index=162&type=chunk) - R&D expenses are expected to increase significantly as clinical programs for EOS-448 and inupadenant progress into later-stage trials[121](index=121&type=chunk) [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Operations analysis shows GSK revenue driving profitability, with **$213.7 million** in revenue and **$76.2 million** net income for the nine-month period, alongside increased R&D expenses Comparison of Results for the Nine Months Ended Sep 30 (in thousands) | Metric | 2022 | 2021 | Change | | :--- | :--- | :--- | :--- | | License and collaboration revenue | $213,725 | $104,271 | $109,454 | | Research and development expenses | $71,938 | $41,983 | $29,955 | | General and administrative expenses | $32,846 | $30,907 | $1,939 | | **Net income** | **$76,199** | **$29,649** | **$46,550** | - The **$30.0 million** increase in R&D expenses for the nine-month period was primarily due to a **$23.6 million** increase in CRO/CMO fees and a **$2.6 million** increase in payroll costs, reflecting expanded clinical trial activities for EOS-448 and inupadenant[143](index=143&type=chunk) - General and administrative expenses increased by **$1.9 million** for the nine-month period, mainly due to higher stock-based compensation and payroll costs, partially offset by a **$6.3 million** decrease in one-time advisor fees related to the 2021 GSK agreement[144](index=144&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is strong with **$752.2 million** in cash, projected to fund operations **into 2026**, with future funding dependent on clinical trial progress and GSK cost-sharing - The company had **$752.2 million** in cash and cash equivalents as of September 30, 2022[151](index=151&type=chunk) - Management believes existing cash is sufficient to fund operating expenses and capital requirements **into 2026**[162](index=162&type=chunk) - Under the GSK collaboration, the company is responsible for **40%** of the costs related to the Global Development Plan, which has a total planned spend of at least **$900 million**[153](index=153&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk primarily stems from interest rate fluctuations on cash holdings and foreign currency exposure, particularly the euro-to-U.S. dollar exchange rate - The company is exposed to interest rate risk on its cash and cash equivalents of **$752.2 million**, but due to the short-term nature of these holdings, a 10% change in rates is **not expected to have a material impact**[178](index=178&type=chunk) - The company is subject to foreign currency exchange risk, particularly with respect to the euro, as its wholly owned subsidiary, iTeos Belgium SA, operates with the euro as its functional currency[179](index=179&type=chunk) [Item 4. Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were **effective as of September 30, 2022**, with no material changes during the quarter - Management concluded that the company's disclosure controls and procedures were **effective as of September 30, 2022**[182](index=182&type=chunk) - Based on an evaluation using the COSO 2013 framework, management concluded that internal control over financial reporting was also **effective as of September 30, 2022**[184](index=184&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[186](index=186&type=chunk) [PART II. OTHER INFORMATION](index=37&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is **not currently involved in any material legal proceedings** that would adversely affect its financial condition or operations - As of the filing date, the company is **not a party to any material legal proceedings**[190](index=190&type=chunk) [Item 1A. Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including development uncertainties, regulatory hurdles, heavy reliance on third parties, financial sustainability challenges, and operational complexities - **Development Risks:** The success of product candidates like inupadenant and EOS-448 is uncertain, and results from early trials may not predict later-stage success. Challenges include patient enrollment and reliance on third-party drugs for combination therapies[192](index=192&type=chunk)[193](index=193&type=chunk)[199](index=199&type=chunk) - **Regulatory Risks:** The FDA approval process is lengthy and unpredictable. There is a risk of serious adverse events delaying or preventing approval, and even if approved, products will be subject to ongoing regulatory review and potential marketing restrictions[222](index=222&type=chunk)[225](index=225&type=chunk)[226](index=226&type=chunk) - **Third-Party Reliance:** The company depends on CROs to conduct clinical trials and CMOs for manufacturing, creating risks related to performance, quality (cGMP), and supply chain continuity. The collaboration with GSK is critical but also introduces risks related to shared control and potential disputes[254](index=254&type=chunk)[262](index=262&type=chunk)[266](index=266&type=chunk) - **Financial & Operational Risks:** The company has a limited operating history, expects to incur future losses, and will require additional financing. Managing growth, potential disruptions from COVID-19, cybersecurity threats, and unfavorable economic conditions are key operational challenges[278](index=278&type=chunk)[285](index=285&type=chunk)[310](index=310&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=71&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the reporting period - **None**[363](index=363&type=chunk) [Item 5. Other Information](index=71&type=section&id=Item%205.%20Other%20Information) No other information required for disclosure under this item was reported by the company - **Not applicable**[366](index=366&type=chunk) [Item 6. Exhibits](index=72&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the quarterly report, including corporate governance documents, officer certifications, and XBRL data files - Exhibits filed include corporate governance documents, officer certifications, and interactive data files (XBRL)[367](index=367&type=chunk)

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR Commission File Number: 001-39401 iTeos Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) (Sta ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39401 iTeos Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) (St ...

Part I [Business](index=8&type=section&id=Item%201.%20Business) iTeos Therapeutics is a clinical-stage biopharmaceutical company developing immuno-oncology therapeutics, with lead candidates EOS-448 and inupadenant, supported by strategic collaborations and a growing IP portfolio [Overview and Pipeline](index=8&type=section&id=Item%201.%20Business%20-%20Overview) The company is a clinical-stage biopharmaceutical firm advancing lead candidates EOS-448 (anti-TIGIT) and inupadenant (A2AR antagonist) through clinical trials, alongside a growing preclinical pipeline - The company's lead antibody product candidate is **EOS-448**, an antagonist of TIGIT, being explored in combination with pembrolizumab, dostarlimab, and inupadenant in ongoing Phase 1b trials[16](index=16&type=chunk) - The company is also advancing **inupadenant**, a next-generation adenosine A2A receptor antagonist, with plans to initiate a randomized Phase 2 trial in 2022 to evaluate its combination with chemotherapy[19](index=19&type=chunk) - In September 2021, a new product candidate in the adenosine pathway was nominated for Investigational New Drug (IND) enabling studies, expanding the preclinical pipeline[21](index=21&type=chunk)[46](index=46&type=chunk) [Collaborations and Licenses](index=15&type=section&id=Item%201.%20Business%20-%20Collaborations%20and%20Licenses) Key collaborations include a major agreement with GSK for EOS-448, involving significant upfront and milestone payments, alongside partnerships with Adimab and WuXi Biologics for discovery and manufacturing - Entered into a collaboration and license agreement with **GSK for EOS-448**, which became effective on July 26, 2021[18](index=18&type=chunk)[47](index=47&type=chunk) GSK Collaboration Agreement Financials | Metric | Amount | | :--- | :--- | | Upfront Payment | $625.0 million | | Potential Milestone Payments | Up to $1.45 billion | | Profit Share (U.S.) | Equally split | | Royalties (ex-U.S.) | Tiered double-digit, up to 20% | - A collaboration with Adimab for antibody discovery, under which EOS-448 was licensed, involves potential milestone payments up to **$45.8 million** for new products and low to mid-single-digit royalties[52](index=52&type=chunk)[53](index=53&type=chunk) - A manufacturing agreement with WuXi Biologics for EOS-448 includes a potential low single-digit royalty or a one-time milestone payment in the low tens of millions if a different manufacturer is used for all commercial supplies[56](index=56&type=chunk) [Competition](index=16&type=section&id=Item%201.%20Business%20-%20Competition) The company faces intense competition in the immuno-oncology market for its anti-TIGIT (EOS-448) and A2AR antagonist (inupadenant) programs, with rivals in advanced clinical stages - Competitors for the anti-TIGIT antibody **EOS-448** include Bristol-Myers Squibb, Merck, Roche/Genentech, Beigene, Arcus, and Gilead, with the most advanced programs in Phase 3 clinical trials[60](index=60&type=chunk) - Competitors for the A2AR antagonist **inupadenant** include AstraZeneca, Corvus Pharmaceuticals, Incyte, Arcus, Gilead, and Novartis, with the most advanced programs in Phase 2 clinical trials[61](index=61&type=chunk) [Intellectual Property](index=18&type=section&id=Item%201.%20Business%20-%20Intellectual%20property) The company's IP portfolio for TIGIT (EOS-448) and A2AR (inupadenant) programs includes issued patents and numerous pending applications, with expirations generally from 2038 to 2042 - The TIGIT program portfolio (covering EOS-448) has **one issued U.S. patent** and **one issued European patent**, with natural expiration in **2038**; over thirty pending applications have potential expiration dates from **2038 to 2042**[71](index=71&type=chunk) - The A2AR program portfolio (covering inupadenant) has **one issued U.S. patent** and **one issued Australian patent**, with natural expiration in **2038**; over fifty pending applications have potential expiration dates from **2038 to 2042**[72](index=72&type=chunk) [Human Capital Resources](index=32&type=section&id=Item%201.%20Business%20-%20Human%20Capital%20Resources) As of December 31, 2021, the company had 94 employees, with a strong focus on R&D, diversity, competitive compensation, and employee well-being Employee Statistics (as of Dec 31, 2021) | Category | Number/Percentage | | :--- | :--- | | Total Full-Time Employees | 94 | | R&D Employees | 70 | | Finance, Legal, HR, General Mgmt | 24 | | Employees with Ph.D. or M.D. | 36 | | Women in Global Workforce | 66% | | Women in Leadership (Director+) | 55% | [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including clinical trial failures, regulatory hurdles, heavy reliance on third parties, financial instability, intellectual property challenges, and operational issues - Successful commercialization is contingent on completing successful preclinical and clinical trials, but results from early-stage trials may not predict later-stage outcomes[171](index=171&type=chunk)[172](index=172&type=chunk) - The company relies on third parties like CROs to conduct clinical trials and CMOs for manufacturing, making it vulnerable to their performance, regulatory compliance, and potential supply disruptions[235](index=235&type=chunk)[246](index=246&type=chunk) - The collaboration with GSK for EOS-448 carries risks, including limited control over development and commercialization, potential disputes, and reliance on GSK's efforts outside the U.S.[241](index=241&type=chunk)[242](index=242&type=chunk)[244](index=244&type=chunk) - The company has a limited operating history, has incurred significant losses, and will require additional financing, which may not be available on acceptable terms[258](index=258&type=chunk)[260](index=260&type=chunk)[265](index=265&type=chunk) - The ongoing COVID-19 pandemic may adversely impact clinical trials, manufacturing, and operations due to delays, resource allocation issues, and supply chain disruptions[291](index=291&type=chunk)[292](index=292&type=chunk) [Unresolved Staff Comments](index=67&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments - None[342](index=342&type=chunk) [Properties](index=67&type=section&id=Item%202.%20Properties) The company leases its principal executive office in Watertown, MA, and laboratory/office space in Charleroi, Belgium, with leases extending to 2027 and 2030 respectively - The company's principal office is a leased **9,068 sq. ft.** space in Watertown, MA, with the lease terminating in **February 2027**[343](index=343&type=chunk) - The Belgian subsidiary leases approximately **2,231 square meters** of laboratory and office space in Charleroi, Belgium, with the lease extended through **January 2030**[344](index=344&type=chunk) [Legal Proceedings](index=67&type=section&id=Item%203.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings - The company is not currently a party to any material legal proceedings[346](index=346&type=chunk) [Mine Safety Disclosures](index=68&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[348](index=348&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=69&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on Nasdaq under "ITOS", with no history or plans for cash dividends, as earnings are retained for business expansion - Common stock is traded on the Nasdaq Global Select Market under the symbol "**ITOS**"[350](index=350&type=chunk) - The company has not paid any cash dividends since inception and does not plan to in the foreseeable future[352](index=352&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=70&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2021, the company achieved significant net income of $214.5 million, driven by $344.8 million in GSK collaboration revenue, with increased operating expenses and $848.5 million in cash expected to fund operations into 2026 [Results of Operations](index=75&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20-%20Results%20of%20operations) In 2021, the company reported $344.8 million in revenue and $214.5 million net income, driven by the GSK agreement, while R&D and G&A expenses significantly increased due to clinical trials and public company costs Comparison of Results of Operations (Years Ended Dec 31) | (in thousands) | 2021 | 2020 | Change | | :--- | :--- | :--- | :--- | | License and collaboration revenue | $344,775 | $0 | $344,775 | | Research and development expenses | $59,369 | $29,900 | $29,469 | | General and administrative expenses | $40,505 | $15,340 | $25,165 | | Income (loss) from operations | $244,901 | $(45,240) | $290,141 | | Net income (loss) | $214,521 | $(38,033) | $252,554 | - R&D expenses increased by **$29.5 million** in 2021, mainly due to a **$19.8 million** increase in CRO/CMO fees and internal lab expenses for EOS-448 and inupadenant clinical trials[385](index=385&type=chunk) - G&A expenses increased by **$25.2 million** in 2021, primarily due to an **$11.3 million** increase in professional fees (including **$6.8 million** for the GSK deal) and an **$8.0 million** increase in stock-based compensation[386](index=386&type=chunk)[387](index=387&type=chunk) [Liquidity and Capital Resources](index=76&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20-%20Liquidity%20and%20capital%20resources) As of December 31, 2021, the company held $848.5 million in cash, largely due to the GSK upfront payment, with sufficient liquidity projected to fund operations into 2026 - As of December 31, 2021, the company had **$848.5 million** in cash and cash equivalents[397](index=397&type=chunk)[411](index=411&type=chunk) - The company received a **$625.0 million** upfront payment from GSK on August 5, 2021[395](index=395&type=chunk)[410](index=410&type=chunk) - Management believes existing cash and cash equivalents will be sufficient to fund operating expenses and capital expenditure requirements into **2026**[411](index=411&type=chunk) Cash Flow Summary (Years Ended Dec 31) | (in thousands) | 2021 | 2020 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $513,140 | $(25,176) | | Net cash used in investing activities | $(1,242) | $(377) | | Net cash provided by financing activities | $3,659 | $340,339 | [Critical Accounting Policies and Estimates](index=79&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20-%20Critical%20accounting%20policies) Critical accounting policies involve significant judgments, particularly for GSK revenue recognition, R&D expense accruals, stock-based compensation, government grants, and income tax provisions - Revenue from the GSK Collaboration Agreement is recognized over time using a cost-to-cost measure of progress, as the upfront license was bundled with other promises (Phase 1 study, know-how transfer) into a single performance obligation[417](index=417&type=chunk)[419](index=419&type=chunk) - The company must estimate accrued R&D expenses for services performed by CROs and CMOs when invoices have not yet been received, based on progress and contracted fees[417](index=417&type=chunk)[418](index=418&type=chunk) - As of December 31, 2021, the company recorded a full valuation allowance against its net deferred tax assets and a **$17.0 million** liability for an uncertain tax position regarding the allocation of revenue between Belgium and the U.S.[381](index=381&type=chunk)[631](index=631&type=chunk) [Controls and Procedures](index=85&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2021, with new controls implemented for the GSK agreement and ASC 842 adoption - Management concluded that disclosure controls and procedures were effective as of December 31, 2021[437](index=437&type=chunk) - Management concluded that internal control over financial reporting was effective as of December 31, 2021[439](index=439&type=chunk) - Significant new accounting processes and internal controls were implemented as a result of the GSK Collaboration Agreement and the adoption of the new lease accounting standard (ASC 842)[443](index=443&type=chunk)[444](index=444&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=87&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2022 Annual Meeting of Stockholders proxy statement - Information is incorporated by reference from the definitive proxy statement for the 2022 Annual Meeting of Stockholders[447](index=447&type=chunk) [Executive Compensation](index=87&type=section&id=Item%2011.%20Executive%20Compensation) Executive compensation information is incorporated by reference from the 2022 Annual Meeting of Stockholders proxy statement - Information is incorporated by reference from the definitive proxy statement for the 2022 Annual Meeting of Stockholders[449](index=449&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=87&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership information for beneficial owners and management is incorporated by reference from the 2022 Annual Meeting of Stockholders proxy statement - Information is incorporated by reference from the definitive proxy statement for the 2022 Annual Meeting of Stockholders[450](index=450&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=87&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information on related party transactions and director independence is incorporated by reference from the 2022 Annual Meeting of Stockholders proxy statement - Information is incorporated by reference from the definitive proxy statement for the 2022 Annual Meeting of Stockholders[451](index=451&type=chunk) [Principal Accounting Fees and Services](index=87&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Principal accounting fees and services information is incorporated by reference from the 2022 Annual Meeting of Stockholders proxy statement - Information is incorporated by reference from the definitive proxy statement for the 2022 Annual Meeting of Stockholders[452](index=452&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=88&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all exhibits filed with the report, including material contracts and certifications, and notes the inclusion of financial statements - This section contains a list of all exhibits filed with the report, including material contracts and certifications[454](index=454&type=chunk)[457](index=457&type=chunk)

| --- | --- | |----------------------------------------------------------------------|-------| | | | | | | | | | | | | | Targeted Immunotherapies to Improve the Lives of People with Cancer | | | | | | February 2022 Nasdaq: ITOS | | Forward-Looking Statements This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements that are not statements of historical fact may be deemed to be forward-loo ...

| --- | --- | --- | |----------------------------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | Targeted Immunotherapies to Improve the Lives of People with Cancer | | | | January 2022 Nasdaq: ITOS | | | Forward-Looking Statements This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements that are not statements of historical fact may be deeme ...

iTeos Therapeutics Inc. (NASDAQ:ITOS) Q3 2021 Earnings Conference Call November 10, 2021 4:30 PM ET Company Participants Ryan Baker - Head-IR Michel Detheux - President and CEO Matthew Gall - CFO Joe Lager - CMO Conference Call Participants Daina Graybosch - SVB Leerink Anupam Rama - JP Morgan David Nierengarten - Wedbush Securities Swayampakula Ramakanth - H.C. Wainwright Operator Good afternoon and welcome to the iTeos Therapeutics’ Third Quarter 2021 Financial Results Conference Call. This time, all part ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39401 iTeos Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) ...