WATERTOWN, Mass. – iTeos Therapeutics, Inc. (NASDAQ:ITOS), a clinical-stage biopharmaceutical company with a market capitalization of $304 million focused on immuno-oncology therapies, has reported interim data from its Phase 2 trial of inupadenant in combination with chemotherapy for metastatic non-small cell lung cancer (NSCLC) patients. According to InvestingPro analysis, the company appears undervalued at its current trading price of $8.30. The trial, known as A2A-005, showed a 63.9% overall response rate (ORR) and a median progression-free survival (PFS) of 7.7 months across evaluable patients.
The recommended Phase 2 dose (RP2D) of inupadenant, 80mg combined with carboplatin/pemetrexed, demonstrated a 73.3% ORR, with 64.6% of patients achieving a landmark 6-month PFS. This data was presented at the European Society for Medical (TASE:PMCN) Oncology Immuno-Oncology (ESMO IO) Congress 2024.
Despite these promising results, iTeos has decided to deprioritize inupadenant to focus its resources on other programs. Michel Detheux, Ph.D., President and CEO of iTeos, stated that while the initial signals are encouraging, they do not meet the level of clinical activity to warrant further investment.
The safety profile of inupadenant in combination with carboplatin/pemetrexed was reported as manageable and tolerable, with no dose-dependent toxicities observed. The trial included patients who had progressed on or after immune checkpoint inhibitor therapy, with a minimum follow-up of six months. While the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 14.8, InvestingPro data indicates the company is quickly burning through its cash reserves.
iTeos Therapeutics' pipeline includes three clinical-stage programs targeting novel immunosuppressive pathways. The company is headquartered in Watertown, MA with a research center in Gosselies, Belgium. The stock has faced significant pressure, declining nearly 50% over the past six months. Unlock more insights and 8 additional ProTips with InvestingPro, including detailed financial health metrics and growth forecasts.
The information in this article is based on a press release statement from iTeos Therapeutics.
In other recent news, iTeos Therapeutics has been making significant strides in its Phase 2 GALAXIES Lung-201 study, which evaluates the combination of belrestotug and dostarlimab in treating PD-L1 high non-small cell lung cancer. Several reputable firms, including JPMorgan (NYSE:JPM), Piper Sandler, and H.C. Wainwright, have maintained their positive ratings on iTeos, citing the promising data presented at the European Society for Medical Oncology Congress. The interim data from this study, which demonstrates significant efficacy in treating patients with PD-L1 high NSCLC, has been a major point of discussion among investors.
In addition to the promising study outcomes, iTeos announced a $120 million stock sale involving over 1.1 million shares of common stock. The company also reported a first-quarter net loss of $1.07 per share for 2024, slightly above the projected net loss of $0.98 per share.
Other recent developments include the appointment of Dr. David Feltquate as the new Chief Medical Officer and the election of two Class I directors at the Annual Meeting of Stockholders. The company's independent auditor for the upcoming fiscal year, Deloitte Bedrijfsrevisoren / Réviseurs d’Entreprises BV/SRL, was also ratified. These developments highlight iTeos Therapeutics' ongoing efforts to advance its clinical programs and corporate operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.