ITeos rises on plans to explore asset sales, use cash reserves

iTeos Therapeutics

28/05/2025 14:25

** Shares of drug developer iTeos Therapeutics ITOS.O rise 25.09% to $10.67 premarket

** Co
says
 it plans to leverage its cash reserves to deliver near-term shareholder value as it winds down operations and explore sale of key assets as part of a strategic review

** As of last close, co's market cap was $326.48 million vs its cash balance of $624.3 million as of March 31

** Co's potential asset sale may include experimental cancer drugs and preclinical obesity program

** Earlier this month, co and GSK GSK.L stopped the development of an experimental lung cancer drug, belrestotug, after it failed to stop the disease from progressing in two studies

** Up to last close, stock up ~11% YTD

 (Reporting by Sriparna Roy in Bengaluru)

 ((Sriparna.Roy@thomsonreuters.com;))