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.
This page provides a historical news archive for Ikena Oncology, Inc., which traded on Nasdaq under the symbol IKNA before its merger with Inmagene Biopharmaceuticals and subsequent name change to neBio, Inc. The articles collected here trace how Ikena evolved from a targeted oncology company into part of a broader clinical-stage biotechnology organization whose stock now trades under the ticker IMA.
Earlier news under IKNA focuses on Ikena’s targeted oncology programs, including IK-930, a TEAD1-selective Hippo pathway inhibitor, and IK-595, a MEK-RAF molecular glue studied in patients with RAS and RAF mutant cancers. Releases detail clinical progress such as Phase 1 dose escalation, pharmacokinetics and pharmacodynamics observations, and strategic decisions like the discontinuation of IK-930 and workforce restructuring. Financial updates outline Ikena’s cash position, research and development spending, and its evaluation of strategic options for the company and its pipeline.
Subsequent news documents the agreement and completion of a merger with Inmagene Biopharmaceuticals, the approval of the transaction by Ikena stockholders, and the implementation of a 1-for-12 reverse stock split. Coverage explains that the combined company would operate as neBio, Inc., focus on developing -007, a non-depleting anti-OX40 monoclonal antibody for immunological and inflammatory diseases, and trade on Nasdaq under the symbol IMA. Additional items describe the establishment of contingent value rights for Ikena’s legacy assets and governance and compensation plans for the combined company.
Investors and researchers can use this IKNA news archive to follow the sequence of clinical, financial, and corporate events that led from Ikena’s oncology-focused operations to its transformation into neBio, Inc. and the shift in emphasis toward immunological and inflammatory disease programs centered on -007.
ImageneBio, Inc. (formerly Ikena Oncology - NASDAQ:IKNA) has completed its merger with Inmagene Biopharmaceuticals, accompanied by a $75 million private placement from investors including Deep Track Capital, Foresite Capital, and RTW Investments. The combined entity will trade as "IMA" on Nasdaq starting July 28, 2025.
The merger includes a 1-for-12 reverse stock split, resulting in approximately 11.6 million shares outstanding. Post-merger ownership structure comprises 43.1% Inmagene holders, 35.3% Ikena holders, and 21.6% new investors. The company will focus on advancing IMG-007, a non-depleting anti-OX40 monoclonal antibody, currently in Phase 2b trials for atopic dermatitis, with topline results expected in Q4 2026.
Ikena Oncology (NASDAQ: IKNA) and Inmagene Biopharmaceuticals announced the appointment of Dr. Kristin Yarema as CEO of their merged company, ImageneBio. The merger, approved by shareholders on July 15, 2025, is expected to close by end of July 2025 with a $75 million private placement.
Dr. Yarema brings over 20 years of leadership experience, most recently serving as CEO of Poseida Therapeutics until its Roche acquisition. Her extensive background includes commercial leadership roles at Atara Biotherapeutics and senior positions at Amgen and Novartis.
The combined company will operate as ImageneBio, Inc. and trade on Nasdaq under the ticker symbol "IMA". The company will focus on developing IMG-007, an anti-OX40 therapeutic candidate for autoimmune and inflammatory diseases.
Ikena Oncology (Nasdaq: IKNA) announced that stockholders have approved its merger with Inmagene Biopharmaceuticals. The combined company will be renamed to ImageneBio, Inc. and will trade on Nasdaq under the ticker symbol "IMA".
Additionally, shareholders approved a 1-for-12 reverse stock split of Ikena common stock, which will reduce outstanding shares from approximately 48.2 million to 4 million. The reverse split and merger are expected to be completed by the end of July 2025.
Ikena Oncology (NASDAQ: IKNA) and Inmagene Biopharmaceuticals have announced a definitive merger agreement, along with a $75 million private placement. The transaction, expected to close in mid-2025, will result in approximately $175 million to support the development of IMG-007, a non-depleting anti-OX40 monoclonal antibody.
The private placement includes investments from Deep Track Capital, Foresite Capital, RTW Investments, and existing Ikena investors. The combined company will operate as ImageneBio, Inc. and trade under the ticker 'IMA', focusing on developing IMG-007 for atopic dermatitis treatment.
IMG-007 features an extended half-life compared to other OX40-targeting mAbs in Phase 2 and later development, with silenced ADCC function. A Phase 2b clinical trial in atopic dermatitis is planned for early 2025.
Ikena Oncology (NASDAQ: IKNA) reported Q3 2024 financial results, maintaining a strong cash position of $138.0 million. The company's Phase 1 study of IK-595 in RAS and RAF mutant cancers continues progressing, showing promising early pharmacokinetics and pharmacodynamics activity. Financial highlights include reduced R&D expenses to $6.8 million from $14.7 million year-over-year, and lower G&A expenses at $4.8 million compared to $6.0 million in Q3 2023. Net loss improved to $10.2 million from $17.3 million in the same period last year.
Ikena Oncology (Nasdaq: IKNA) reported Q2 2024 financial results, highlighting a strong cash position of $145.4 million. The company's Phase 1 study of IK-595 in RAS and RAF mutant cancers is progressing, showing promising early PK and PD activity. However, Ikena discontinued the IK-930 clinical program in May 2024. The company also announced a 53% workforce reduction and is evaluating strategic options to maximize shareholder value. Financial highlights include:
- R&D expenses decreased to $9.8 million from $15.2 million in Q2 2023
- G&A expenses remained stable at $5.3 million
- Net loss reduced to $13.7 million from $17.1 million in Q2 2023
- Restructuring costs of $0.7 million were reported for Q2 2024
Ikena Oncology announced the discontinuation of its IK-930 program, a TEAD1-selective Hippo pathway inhibitor, to focus resources on other strategic priorities. This includes the ongoing development of IK-595, a MEK-RAF molecular glue, which has shown promising early pharmacokinetic (PK) and pharmacodynamic (PD) data. Ikena ended Q1 2024 with $157.3 million in cash and is exploring strategic options to maximize shareholder value. The company is also executing a workforce reduction of approximately 53% in connection with the IK-930 winddown.
Ikena Oncology announced they are discontinuing the development of IK-930, their TEAD1-selective Hippo pathway inhibitor. The company will continue the clinical development of IK-595, a MEK-RAF molecular glue showing promising PK and PD data in RAS and RAF mutant cancers. Ikena ended Q1 with $157.3 million in cash and is projecting $110-$120 million by year-end 2024. The company is exploring strategic options, including partnerships, mergers, or asset sales. A workforce reduction of approximately 53% will occur in connection with the discontinuation of IK-930.
Ikena Oncology (Nasdaq: IKNA) reported its Q1 2024 financial results, highlighting a strong financial position with $157.3 million in cash and equivalents, sufficient to fund operations into H2 2026. The IK-930 program is on track for a clinical update in H2 2024, focusing on mesothelioma patients. The IK-595 program continues dose escalation in RAS and RAF mutant cancer patients, with more updates expected later in the year.
Financially, the company reported no collaboration revenue in Q1 2024, down from $5.3 million in Q1 2023 due to the completion of the Bristol-Myers Squibb collaboration. R&D expenses decreased to $9.6 million from $15.6 million, while general and administrative expenses increased to $6.0 million from $5.3 million. The net loss grew to $16.1 million, up from $14.2 million in the previous year.
Notable corporate updates include a renewed focus on core oncology programs and the appointment of Dr. Caroline Germa as Chief Medical Officer.
Summary not available.