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.
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