Welcome to our dedicated page for Ikena Oncology news (Ticker: IKNA), a resource for investors and traders seeking the latest updates and insights on Ikena Oncology stock.
Ikena Oncology, Inc. (Nasdaq: IKNA) is a clinical-stage biotechnology company dedicated to discovering and developing patient-directed, biomarker-driven therapies for cancer patients. Formerly known as Kyn Therapeutics, Ikena focuses on understanding what drives cancer in each patient and tailoring treatments accordingly.
Core Business: The company is advancing several innovative programs targeting crucial pathways in oncology:
- IK-930: An oral small-molecule inhibitor targeting the TEAD transcription factor in the Hippo signaling pathway, a pathway implicated in oncogenic resistance.
- IK-595: A MEK-RAF complexing inhibitor expected to have an IND submitted soon, aiming to treat RAS and RAF mutant cancers.
- IK-175: An AHR antagonist developed in collaboration with Bristol Myers Squibb.
Strategic Collaborations: Ikena has entered into a global strategic collaboration with Celgene for its AHR antagonist and kynase programs. The company's approach is supported by top-tier investors, including OrbiMed Advisors and Atlas Venture.
Recent Achievements and Financial Health: Ikena recently acquired Pionyr Immunotherapeutics, Inc., which added approximately $43 million in net cash to its balance sheet. This acquisition strengthens Ikena's financial position, enabling the company to accelerate and expand its clinical programs. As of the latest reports, Ikena had substantial cash reserves to fund operations into the second half of 2026. The company is focused on advancing its IK-930 and IK-595 programs while exploring new strategic options.
Pipeline Progress: Ikena's IK-930 program showed promising initial clinical data, but the company decided to discontinue it to focus on other strategic areas. IK-595 continues to progress rapidly, showing encouraging early pharmacokinetic and pharmacodynamic data.
Mission and Vision: Ikena Oncology is committed to efficiently developing the right drug for the right patient, utilizing its depth of institutional knowledge and advanced tools.
For more information, visit the Ikena Oncology website or follow the company on LinkedIn.
BOSTON, April 20, 2023 (GLOBE NEWSWIRE) -- Ikena Oncology, a targeted oncology company, will present at the Stifel 2023 Virtual Targeted Oncology Days on April 25-26, 2023. CEO Mark Manfredi will discuss company advancements, focusing on their pipeline programs including IK-930, a novel Hippo pathway inhibitor, during his presentation on April 25 at 2:30 p.m. ET. The session will be available via a webcast. Ikena focuses on developing therapies targeting cancer growth, particularly in the Hippo and RAS signaling networks, with IK-930 as their leading program. More details are available on their website.
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