iTeos Therapeutics, Inc.: management transactions · United States · SEC (Form 4)

About iTeos Therapeutics, Inc.

iTeos Therapeutics, Inc. is a U.S.-listed biopharmaceutical company trading on NASDAQ in the United States, focused on immuno-oncology. The company is headquartered in Watertown, Massachusetts, with a research center in Gosselies, Belgium. Its roots go back to a Belgian biotechnology platform founded in 2011, and the current Delaware-incorporated parent, iTeos Therapeutics, Inc., was created in 2019 as the U.S. successor structure. iTeos operates as a clinical-stage oncology company, with a portfolio centered on monoclonal antibodies and small molecules designed to address validated immune pathways, especially in solid tumors. The company’s lead asset is belrestotug, an anti-TIGIT antibody intended to counter tumor-induced immunosuppression and enhance anti-tumor immune activity. iTeos developed this program in collaboration with GSK under a global collaboration and license agreement that gives GSK commercialization rights outside the United States, while iTeos and GSK share development responsibility and U.S. commercial rights. This partnership has been a key strategic asset for iTeos, providing scientific validation, cost-sharing, and significant milestone potential. The broader pipeline has also included adenosine-pathway programs such as inupadenant (EOS-850), although the company stated in 2024 that the interim data did not justify further investment at that stage. From a competitive standpoint, iTeos operates in one of the most crowded and scientifically demanding areas of oncology drug development. Success depends on clinical differentiation, biomarker strategy, partner quality, and capital efficiency. The company’s main strengths are its translational tumor immunology expertise, its cross-border U.S.-Belgium operating model, and its ability to collaborate with a large pharmaceutical partner. At the same time, the business profile remains typical of a late-stage biotech: concentrated pipeline risk, high R&D intensity, and limited revenue visibility absent product commercialization. The GSK alliance has been central in positioning iTeos as a credible immuno-oncology developer rather than a purely preclinical story. Geographically, iTeos maintains a transatlantic footprint, with operational capabilities in both the United States and Belgium. A major recent development is the definitive agreement announced in July 2025 for Concentra Biosciences to acquire iTeos for $10.047 in cash per share plus a contingent value right, following a strategic review and board approval. For investors, this means iTeos should be viewed as a biotech asset with notable strategic optionality, but also as a company whose equity story is now closely tied to a transaction outcome rather than only to standalone pipeline execution.