Ikena Oncology Stock Price, News & Analysis

Ikena Oncology (Nasdaq: IKNA) announced the promotion of Michelle Zhang, Ph.D., to Chief Scientific Officer (CSO) as of late November 2021. Dr. Zhang, who has over 20 years of experience in oncology drug discovery, previously served as Senior Vice President of Translational Research. Jeffrey Ecsedy, Ph.D., has assumed the newly created role of Chief Development Officer (CDO), focusing on Ikena's expanding clinical pipeline. These leadership changes aim to enhance the company's research strategy and development capabilities as it works to deliver innovative cancer therapies.

Ikena Oncology announced data from the IK-175 clinical trial during the SITC 36th Annual Meeting. The trial investigates IK-175, an oral AHR antagonist, in urothelial carcinoma patients. The ongoing Phase 1a/b study aims to assess safety and tolerability of IK-175 alone and with nivolumab. Key findings indicate a prevalent AHR signaling in urothelial carcinoma, suggesting its role in tumor progression. The clinical trial is actively recruiting and is a collaboration with Bristol Myers Squibb, focusing on biomarker-driven patient selection.

Ikena Oncology (Nasdaq: IKNA) announced that the FDA accepted its IND application for IK-930, a TEAD inhibitor targeting the Hippo pathway, with a Phase 1 clinical trial anticipated to start in early 2022. The company reported a net loss of $14.5 million for Q3 2021, up from $6.2 million a year earlier, with operational cash assets of $245.9 million expected to sustain operations through 2023. Ikena is also advancing multiple candidates targeting the RAS pathway, with several expected to emerge in the next 18 months.

Ikena Oncology (Nasdaq: IKNA) announced its participation in several virtual investor conferences during November 2021. Key events include:

• BMO Biopharma Spotlight Series on November 8, 2021, focusing on targeted therapies.
• Credit Suisse 30th Annual Healthcare Conference on November 11, 2021, featuring a fireside chat.
• Stifel 2021 Virtual Healthcare Conference on November 15, 2021, with corporate presentations.
• Jefferies London Healthcare Conference on November 18, 2021, offering pre-recorded content.

Webcasts will be available for replay on the company's website.

Ikena Oncology announced that the U.S. FDA has accepted its Investigational New Drug (IND) application for IK-930, a TEAD inhibitor targeting genetic alterations in the Hippo pathway. This marks a crucial step towards their first-in-human phase 1 clinical trial, set to begin in early 2022, focusing on patients with solid tumors like NF2-deficient malignant mesothelioma. Ikena aims to evaluate the effectiveness of IK-930, both as a standalone treatment and in combination with other therapies, addressing significant unmet needs in oncology.

Ikena Oncology presented new data at the AACR-NCI-EORTC International Conference, highlighting their lead TEAD inhibitor, IK-930. The findings suggest potential for IK-930 in treating NF2-deficient mesothelioma and other cancer types with Hippo pathway mutations. The data also indicate promising combinations of IK-930 with EGFR and MEK inhibitors. Presenters Jeffrey Ecsedy and Marta Sanchez-Martin emphasized the importance of patient selection and a biomarker-driven approach in clinical development. Ikena aims to leverage these insights for effective cancer therapies.

Ikena Oncology (Nasdaq: IKNA) announced the presentation of three abstracts focused on their Aryl Hydrocarbon Receptor (AHR) antagonist program at the SITC 2021 Annual Meeting, taking place from November 10-14, 2021. The highlighted inhibitor, IK-175, is an oral AHR antagonist currently in a Phase 1 clinical trial designed to enhance immunity against cancer. The abstracts will cover various studies, including the efficacy of IK-175 in treating patients with advanced solid tumors.

Ikena Oncology (Nasdaq: IKNA) announced participation in the virtual Morgan Stanley 19th Annual Global Healthcare Conference from September 9-15, 2021, and the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. Management will engage in a fireside chat on September 10, 2021, at 10:15 am EST during the Morgan Stanley conference. Webcasts are accessible for replay through the company's website, available for 90 days post-event. Ikena focuses on developing novel cancer therapies targeting key signaling pathways.

Ikena Oncology (Nasdaq: IKNA) reported its Q2 financial results for 2021, showing a net loss of $12.7 million, up from $5.0 million in Q2 2020. R&D expenses rose to $11.4 million, driven by ongoing IND-enabling studies. The company holds $264 million in cash, sufficient to fund operations through 2023. Key pipeline developments include advancing the IK-175 clinical trial in bladder cancer and preparing for IK-930 IND submission by year-end. Upcoming presentations at scientific conferences are expected to further elaborate on the efficacy of their therapies.