Material Event (Form 8-K)

As previously reported, on December 26, 2024, IO Biotech, Inc. (the "Company") received notice from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC that, because the closing bid price for the Company's common stock had fallen below $1.00 per share for 30 consecutive trading days, the Company no longer complied with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(a)(1).

On June 3, 2025, the Company received written notification from the Staff indicating that, because the closing bid price of the Company's common stock has been at $1.00 per share or greater for at least 10 consecutive business days, the Company has regained compliance with the $1.00 minimum closing bid price requirement for continued listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(a)(1) and that the matter is now closed.