U.S. may expand Nvidia and AMD’s 15% China chips deal to other companies
iTeos Therapeutics, Inc. (NASDAQ:ITOS), a biotech company with a market capitalization of $388 million, reported a change in its Board of Directors in a recent SEC filing. The stock has shown strong momentum, gaining over 27% in the past six months. On June 1, 2025, Tim Van Hauwermeiren resigned from his position on the board, effective immediately. According to the filing, his departure was not due to any disagreement with the company or its management. The company, based in Watertown, Massachusetts, is listed on the Nasdaq Global Market and maintains a strong financial position with more cash than debt on its balance sheet. InvestingPro analysis reveals 11 additional key insights about ITOS’s financial health and market position. This information is based on a press release statement.
In other recent news, iTeos Therapeutics has announced plans to cease operations and focus on selling its assets, including key programs like EOS-984 and EOS-215. This decision follows a comprehensive review of the company’s development pipeline and financial situation, aiming to maximize shareholder value. As of March 31, 2025, iTeos reported a strong cash position of approximately $624 million, though Wedbush forecasts this will decrease to about $530 million in a year due to severance and wind-down costs. Analysts have responded to these developments with varied actions; Wedbush downgraded iTeos to Neutral while raising the price target to $12, and JPMorgan also downgraded the stock to Neutral, lowering the target to $8. Piper Sandler, however, maintained an Overweight rating but adjusted the price target to $12 following the discontinuation of the belrestotug program. The company is now concentrating on leveraging its cash reserves and potential asset sales to deliver value to shareholders. Investors are closely monitoring the progress of these asset sales and the company’s strategic moves. The biopharmaceutical industry is watching how iTeos’ intellectual property will fare in the market and who the potential buyers might be.
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