iTeos Therapeutics Announces Its Intention to Wind Down Operations
- Board of Directors intends to cease operations
- Company to focus efforts on selecting best path to deliver near-term value to shareholders
- Exploring potential asset sales including EOS-984, EOS-215, and a preclinical obesity program targeting ENT1
WATERTOWN, Mass. and GOSSELIES, Belgium, May 28, 2025 – iTeos Therapeutics, Inc. (Nasdaq: ITOS), a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of immuno-oncology therapeutics for patients, today announced the intention to wind down its operations as part of a comprehensive review of strategic alternatives aimed at maximizing shareholder value.
Following a thorough assessment of the Company’s development pipeline, business prospects, and financial position, the Company’s Board of Directors intends to wind down clinical and operational activities and focus on leveraging the Company’s cash balance to deliver near-term value to shareholders, including any proceeds from the potential sale of the Company’s intellectual property and assets such as EOS-984, EOS-215, and a preclinical obesity program targeting ENT1.
About iTeos Therapeutics, Inc.
iTeos Therapeutics is a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of immuno-oncology therapeutics for patients. iTeos Therapeutics leverages its deep understanding of tumor immunology and immunosuppressive pathways to design novel product candidates with the potential to restore the immune response against cancer. iTeos Therapeutics is headquartered in Watertown, MA with a research center in Gosselies, Belgium.
Forward-Looking Statements
This press release contains forward-looking statements. Any statements that are not solely statements of historical fact are forward-looking statements. Words such as “believe,” “anticipate,” “plan,” “expect,” “will,” “may,” “intend,” “prepare,” “look,” “potential,” “possible” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements relating to iTeos’ intention to wind down clinical and operational activities and focus its efforts on selecting the best path to deliver near-term value to shareholders, including by leveraging its cash balance and potentially selling EOS-984, EOS-215 and a preclinical obesity program targeting ENT1.