Welcome to our dedicated page for Kinnate Biopharma news (Ticker: KNTE), a resource for investors and traders seeking the latest updates and insights on Kinnate Biopharma stock.
Kinnate Biopharma Inc. (Nasdaq: KNTE) is a clinical-stage biopharmaceutical company headquartered in San Diego, California, focusing on the discovery and development of small molecule kinase inhibitors to treat genomically defined cancers. Founded in 2018, Kinnate aims to address known oncogenic drivers for which there are currently no approved targeted therapies, and to overcome the limitations of existing cancer treatments, such as non-responsiveness and resistance.
The company's lead product candidate is EXARAFENIB, an investigational pan-RAF inhibitor targeting cancers with BRAF and NRAS-driven alterations. Another key candidate is KIN-3248, designed to treat cancers with FGFR2 and FGFR3 alterations. These candidates are part of the company's broader pipeline driven by the Kinnate Discovery Engine, which prioritizes high selectivity, optimized pharmaceutical properties, broad genetic alteration coverage, overcoming resistance, and brain penetration.
Recent achievements include FDA clearance for the IND application for KIN-7136, a brain-penetrant MEK inhibitor, and ongoing clinical trials for the exarafenib plus binimetinib combination. However, Kinnate has announced a strategic reprioritization plan, pausing the development of KIN-7136 and exploring strategic alternatives for exarafenib monotherapy and KIN-3248.
Financially, Kinnate reported having approximately $204.3 million in cash as of June 2023, projected to fund operations into the second quarter of 2026. Furthermore, the company has announced a workforce restructuring to align with its refined focus, aiming to retain around 28 full-time employees.
In terms of partnerships, Kinnate recently agreed to sell its investigational pan-RAF inhibitor, exarafenib, to Pierre Fabre Laboratories. This agreement is expected to expand the reach of Kinnate’s programs globally and maximize value for shareholders.
For more information, visit Kinnate.com and follow the company on LinkedIn to stay updated on their latest initiatives and corporate developments.
Kinnate Biopharma Inc. (Nasdaq: KNTE), a precision oncology company, announced two new development candidates for advanced adult solid tumors: KIN-7136, a brain-penetrant MEK inhibitor, and KIN-8741, a selective c-MET inhibitor. KIN-7136 is set to enter clinical trials in the second half of 2023, while KIN-8741 is expected to follow in the first half of 2024, pending FDA approval. The company reported approximately $231 million in cash and equivalents as of March 31, 2023, which will fund operations into early 2025. Additionally, Kinnate plans to deprioritize its CDK12 program to focus on its MEK and c-MET candidates, signaling a strategic shift in its development pipeline, aimed at tackling resistance in cancer treatment.
Kinnate Biopharma announced positive results from its ongoing Phase 1 KN-8701 clinical trial for exarafenib, a pan-RAF inhibitor. Notably, exarafenib has shown strong tolerability, with only 3% of patients discontinuing due to treatment-related adverse events. The monotherapy has led to 8 partial responses across various tumor types, with a 33% overall response rate in patients with BRAF Class II alterations at 300 mg bid. The ongoing dose expansion aims to enhance enrollment in melanoma and lung cancer patients, with initial data expected in early 2024. Kinnate is also pursuing combination therapies with binimetinib for NRAS mutant melanoma. The promising data presented at AACR 2023 emphasizes exarafenib’s potential to fill gaps in treatment options for patients with advanced cancers, where approved therapies are limited.
Kinnate Biopharma (Nasdaq: KNTE) announced its financial results for 2022, reporting cash and equivalents of $266.3 million. The company highlighted key developments, including advancing its investigational pan-RAF inhibitor exarafenib in a Phase 1 trial with oral presentation at the AACR 2023 Annual Meeting. Additionally, the FDA granted Fast Track designation for KIN-3248, targeting specific cancer patients. However, Kinnate reported a net loss of $116.3 million for 2022, an increase from the previous year’s $89.8 million, alongside rising R&D expenses of $88.2 million. Despite these setbacks, Kinnate is poised for growth with new clinical programs planned for 2023.
FAQ
What is the market cap of Kinnate Biopharma (KNTE)?
What does Kinnate Biopharma Inc. specialize in?
What are Kinnate's lead product candidates?
Where is Kinnate Biopharma headquartered?
What recent achievements has Kinnate reported?
What strategic changes has Kinnate made recently?
What is Kinnate's financial condition?
What recent partnerships has Kinnate entered into?
How many employees does Kinnate plan to retain?
Where can I find more information about Kinnate Biopharma?
What is the Kinnate Discovery Engine?
