** Shares of drug developer iTeos Therapeutics ITOS.O rise 25.09% to $10.67 premarket
** Co says it plans to leverage its cash reserves to deliver near-term shareholder value as it winds down operations and explore sale of key assets as part of a strategic review
** As of last close, co's market cap was $326.48 million vs its cash balance of $624.3 million as of March 31
** Co's potential asset sale may include experimental cancer drugs and preclinical obesity program
** Earlier this month, co and GSK GSK.L stopped the development of an experimental lung cancer drug, belrestotug, after it failed to stop the disease from progressing in two studies
** Up to last close, stock up ~11% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))
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