Ikena Oncology Stock Price, News & Analysis

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.

Ikena Oncology announced new preclinical data on its selective Hippo pathway inhibitor IK-930 at the AACR Annual Meeting in Orlando, FL, from April 14-19, 2023. IK-930 selectively inhibits TEAD1 and demonstrates potential for enhanced antitumor activity without renal toxicity, a common issue with broader TEAD inhibitors. The findings suggest that IK-930 can also combat therapeutic resistance in various cancers, including EGFR and RAS mutant cancers. The drug is designed to improve patient outcomes by selectively targeting oncogenic pathways while minimizing adverse effects. Ongoing Phase 1 trials for IK-930 aim to explore its efficacy in various solid tumors with Hippo pathway mutations.

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.