Liquidation: iTeos Therapeutics, Inc.

Form Type: 8-K

Filing Date: 2025-05-28

Corporate Action: Liquidation

Type: New

Accession Number: 000095017025078084

Filing Summary: On May 28, 2025, iTeos Therapeutics, Inc. announced plans to wind down its clinical and operational activities as part of a strategic review to maximize shareholder value. This decision follows the termination of the belrestotug development program and collaboration with GlaxoSmithKline. The company expects to incur significant charges related to severance, contract and lease terminations, and costs associated with winding down its development programs. The anticipated wind down could lead to cash expenditures between $21.8 million to $24.7 million for severance and other costs, plus an additional $11.1 million for other clinical program terminations. The completion of this wind down is expected in the third quarter of 2025, pending consultations at its Belgian facilities. Additionally, the company made amendments to employment agreements for its executive team to enhance retention amid the wind down. A press release detailing these intentions was issued the same day.