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Iteos Therapeutics Inc. (NASDAQ: ITOS) stock has reached a 52-week low, trading at $7.05, marking a significant downturn for the biotechnology company. According to InvestingPro data, the company maintains strong financial health with a current ratio of 14.8 and more cash than debt on its balance sheet. This latest price level reflects a challenging year for Iteos Therapeutics, with the stock experiencing a 1-year change of -33.92%. Investors are closely monitoring the company’s performance, as it navigates through a period marked by volatility in the biotech sector. The 52-week low serves as a critical point of interest for potential buyers looking for entry points, particularly as analyst price targets range from $16 to $47, suggesting potential upside. Long-term shareholders are considering the company’s strategies for recovery and growth amidst a competitive landscape, with analysts anticipating sales growth in the current year.
In other recent news, iTeos Therapeutics announced interim results from its Phase 2 trial of inupadenant combined with chemotherapy for metastatic non-small cell lung cancer (NSCLC) patients. The trial demonstrated a 63.9% overall response rate (ORR) and a median progression-free survival (PFS) of 7.7 months among evaluable patients. Despite these results, iTeos Therapeutics has decided not to continue the development of inupadenant, as the clinical activity was deemed insufficient for further investment. H.C. Wainwright responded by reducing the company’s price target from $46 to $21 while maintaining a Buy rating, reflecting a shift in focus towards other promising programs. The firm remains optimistic about iTeos’ future, particularly with the belrestotug program, which is expected to yield further updates in 2025. Adverse events in the trial were significant, affecting a majority of patients, leading to a notable treatment discontinuation rate. The safety profile was described as manageable, with no dose-dependent toxicities observed. iTeos continues to advance its other clinical-stage programs targeting novel immunosuppressive pathways.
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