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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.
