Raymond James engaged as financial advisorReduction in force implemented NEW YORK, Jan. 30, 2026 (GLOBE NEWSWIRE) -- IO Biotech (Nasdaq: IOBT), a clinical-stage biopharmaceutical company developing novel, immune-modulatory, off-the-shelf therapeutic cancer vaccines, today announced that it has retained Raymond James & Associates, Inc. to serve as exclusive financial advisor to assist the company in its previously announced exploration of strategic alternatives. The company also announced that it is impleme ...

Core Viewpoint - IO Biotech is exploring various strategic alternatives to maximize stockholder value, which may include mergers, business combinations, asset sales, or liquidation [1][2] Group 1: Strategic Alternatives - The company is considering a range of strategic alternatives, including mergers, business combinations, asset sales, or liquidation and dissolution [1] - There is no established timetable for the completion of this strategic review process, and the company will not disclose developments until deemed appropriate by the Board of Directors [2] Group 2: Cost Reduction Efforts - IO Biotech is evaluating a further reduction-in-force and other measures to significantly reduce operating expenses while exploring strategic alternatives [1] Group 3: Company Overview - IO Biotech is a clinical-stage biopharmaceutical company focused on developing immune-modulatory, off-the-shelf therapeutic cancer vaccines based on its T-win platform, which activates T cells to target tumor cells and immune-suppressive cells [3]