IO Biotech, Inc. (IOBTQ) Research & Development (2020 - 2025)
IO Biotech (IOBTQ) reported Research & Development of $13.74 million for Q3 2025, down 31.9% from $20.18 million a year earlier and down 17.5% from the prior quarter.
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Analysis
IO Biotech, Inc. (IOBTQ) Research & Development (2020 - 2025) Analysis & Trends
Over the twelve months ended Sep 30, 2025, IO Biotech's Research & Development came in at $67.92 million, down 5.8% year-over-year; for FY2024, it came in at $71.48 million, up 5.4% from FY2023.
- Research & Development has increased for four consecutive years, with a four-year compound annual growth rate of 70.5% (FY2020 to FY2024).
- By year, Research & Development came in at $67.83 million in FY2023 (+44.4%), $46.99 million in FY2022 (+55.8%), $30.15 million in FY2021 (+256.2%) and $8.46 million in FY2020.
- The Q3 2025 figure ranks as the lowest quarterly Research & Development since Q1 2023.
- Year over year, Research & Development gained in four of the last seven quarters, with growth averaging 2.2%.
- The high point for year-over-year Research & Development in five years was Q4 2021 (growth of 643.9%); the low point was Q3 2025 (a decline of 31.9%).
- Per Business Quant data, the three quarters before Q3 2025 came in at $16.65 million (Q2 2025), $16.38 million (Q1 2025) and $21.15 million (Q4 2024).
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Historic Data
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Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 13.74 Mn |
| Jun 30, 2025 | 16.65 Mn |
| Mar 31, 2025 | 16.38 Mn |
| Dec 31, 2024 | 21.15 Mn |
| Sep 30, 2024 | 20.18 Mn |
| Jun 30, 2024 | 15.85 Mn |
| Mar 31, 2024 | 14.31 Mn |
| Dec 31, 2023 | 21.77 Mn |
| Sep 30, 2023 | 17.66 Mn |
| Jun 30, 2023 | 16.50 Mn |
| Mar 31, 2023 | 11.90 Mn |
| Dec 31, 2021 | 16.44 Mn |
| Sep 30, 2021 | 4.13 Mn |
| Dec 31, 2020 | 2.21 Mn |
| Sep 30, 2020 | 2.78 Mn |
API Access
IO Biotech, Inc. Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=IOBTQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "IOBTQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=IOBTQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();