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.
Ikena Oncology, Inc. (Nasdaq: IKNA) reported strong progress in its oncology pipeline, highlighted by advancements in three key drug candidates. IK-930, a TEAD inhibitor, received Fast Track and Orphan designations and will present initial clinical data in 2H 2023. IK-595, a MEK-RAF complex inhibitor, is on track for IND submission later this year, aiming to address significant unmet needs in RAS mutated cancers. IK-175, an AHR inhibitor, also received Fast Track designation. Financially, the company had $156.9 million in reserves, expected to sustain operations into 2025, despite increasing R&D expenses of $64.3 million for 2022, up from $47.1 million in 2021.
Ikena Oncology (Nasdaq: IKNA) announced the presentation of preclinical data on its MEK-RAF inhibitor, IK-595, at the AACR Special Conference: Targeting RAS in Philadelphia, March 5-8, 2023. IK-595 aims to improve cancer treatment by inhibiting the RAS pathway implicated in many cancer diagnoses. Highlights include IK-595's ability to stabilize the MEK-RAF complex, block MEK phosphorylation in RAS mutant cells, and demonstrate significant anti-tumor efficacy across various cancer models. Ikena plans to submit an IND application for IK-595 in the second half of 2023, targeting RAS mutant cancer subsets that face significant unmet medical needs.
Ikena Oncology (Nasdaq: IKNA) announced that the FDA granted Fast Track designation to IK-175, a novel AHR antagonist, for patients with advanced urothelial carcinoma who have progressed after checkpoint inhibitors. This designation allows Ikena to communicate more frequently with the FDA regarding trial design and increases the likelihood of priority review and accelerated approval. IK-175 is currently in a Phase 1a/b trial, showing promising results for patients with solid tumors. This marks the second Fast Track designation for Ikena, following IK-930 for malignant pleural mesothelioma, underscoring the company's commitment to advancing cancer treatment options.
BOSTON, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Ikena Oncology (Nasdaq: IKNA) announced participation in a Targeted Oncology Panel at the Cowen 43rd Annual Health Care Conference from March 6-8, 2023, in Boston, MA. The panel will feature CEO Mark Manfredi on March 7, 2023, from 2:10 PM to 3:10 PM EST. A webcast of the panel will be available for live streaming and archived for 30 days. Ikena focuses on developing differentiated cancer therapies, with lead program IK-930 targeting the Hippo signaling pathway. The company aims to develop the right drugs for the right patients.
Ikena Oncology has announced the appointment of Owen Hughes as the new Chairman of the Board, effective December 15, 2022. Hughes, who brings extensive operational experience from firms like Sail Bio and Cullinan Oncology, replaces Ron Renaud, who transitions to a role at Bain Capital Life Sciences after four years with Ikena. The leadership change is seen as a continuity for Ikena's mission in targeted oncology therapies. Hughes emphasizes his commitment to advancing and growing Ikena's pipeline to redefine the oncology landscape.
Ikena Oncology (Nasdaq: IKNA) has announced the nomination of IK-595 as its first development candidate targeting the RAS pathway, which is involved in numerous cancer diagnoses. IK-595 aims to inhibit the MEK-RAF signaling pathway more effectively than existing treatments, with an IND application planned for submission in late 2023. Ikena is also advancing IK-930, a TEAD inhibitor, in clinical trials. Following a portfolio review, the company will discontinue development of the EP4 antagonist IK-007. Ikena's cash runway has been extended into 2025, bolstering its oncology portfolio.
Ikena Oncology, a targeted oncology company, will present at the Piper Sandler 34th Annual Healthcare Conference in New York, NY, from November 29 to December 1, 2022. Management will provide a corporate overview on November 29 at 12:10 p.m. ET. The presentation will focus on their novel therapies aimed at treating cancer, particularly through their lead program, IK-930, a TEAD inhibitor targeting the Hippo signaling pathway. Investors can access the live webcast on Ikena's website, which will be archived for 90 days.
Ikena Oncology presented promising clinical data regarding IK-175 for treating urothelial carcinoma at the SITC Annual Meeting. In a cohort of 43 patients, the combination with nivolumab resulted in a 20% overall response rate (ORR) and 40% disease control rate (DCR). Notably, IK-175 monotherapy showed a confirmed partial response lasting 14.9 months. The drug was well tolerated, with manageable side effects. This collaboration may significantly enhance treatment options for patients who have exhausted existing therapies, with Bristol Myers Squibb eligible for opt-in by early 2024.
On November 7, 2022, Ikena Oncology (Nasdaq: IKNA) reported its third-quarter financial results, highlighting progress in clinical trials for its AHR antagonist IK-175 and the targeted therapy IK-930. Initial data indicate that IK-175 shows anti-tumor activity and is well-tolerated in heavily pre-treated patients with urothelial carcinoma. The company has $174.4 million in cash, expected to last through mid-2024, despite an operating cash burn of $17.2 million in Q3 2022. Increased research and development expenses reflect expanded activities in their clinical pipeline.
Ikena Oncology (Nasdaq: IKNA) reported third-quarter financial results for 2022, highlighting ongoing clinical developments for its AHR antagonist, IK-175, which shows promising anti-tumor activity and is well-tolerated in patients with urothelial carcinoma. The company has $174.4 million in cash, sufficient to fund operations through mid-2024. R&D expenses rose to $18.9 million, reflecting increased headcount and manufacturing activity. Ikena anticipates announcing a new development candidate in the RAS pathway by the end of 2022.
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