iTeos Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Updates

Core Insights - iTeos Therapeutics is positioned for a potentially breakthrough year in 2025, with multiple trials advancing, particularly the GALAXIES Lung-201 study expected to yield interim results in Q2 2025 [2][4] - The company has a strong financial position with a cash balance of 655 million as of December 31, 2024, which is expected to sustain operations through 2027 [2][13] Clinical Trials and Programs - The GALAXIES Lung-201 study will assess the combination of belrestotug and dostarlimab in patients with advanced PD-L1 high non-small cell lung cancer (NSCLC), with data from over 240 patients anticipated in Q2 2025 [4] - Interim data from the GALAXIES H&N-202 study, focusing on PD-L1 positive recurrent/metastatic head and neck squamous cell carcinoma (HNSCC), is expected in 2025, involving over 150 patients [5] - The TIG-006 study will provide topline data in 2025, assessing the same combination in advanced/metastatic HNSCC, with data from 42 patients [6] - The EOS-984 program, a potential first-in-class small molecule, is in Phase 1 trials, with topline data expected in the second half of 2025 [9][13] Financial Performance - For Q4 2024, the company reported a net loss of 43.7 million, compared to a net loss of 30.6 million in Q4 2023, reflecting increased R&D expenses primarily due to the belrestotug program [13] - Total R&D expenses for the year ended December 31, 2024, were 145.4 million, up from $113.3 million in 2023, driven by increased activities in multiple clinical programs [13] - General and administrative expenses decreased slightly to$49.1 million for the year ended December 31, 2024, compared to $50.4 million in 2023, due to reductions in various expenses [13]