Ikena Oncology Announces New Cancer Program, Shelves Early Asset For Colorectal Cancer

Ikena Oncology Announces New Cancer Program, Shelves Early Asset For Colorectal Cancer
  • Ikena Oncology Inc IKNA nominated a next-generation mitogen-activated protein kinase (MEK)-RAF complex inhibitor, IK-595, as its first development candidate in the RAS pathway.
  • The company plans to submit an investigational new drug application (IND) for IK-595 to the FDA in the second half of 2023.
  • The company's paralog-selective TEAD inhibitor IK-930 is advancing as planned in dose escalation. Monotherapy clinical data is expected in 2H 2023.
  • Preclinical data on differentiation and advantages of paralog selectivity are planned for presentation in the first half of 2023.
  • Following a portfolio review, the company is discontinuing the internal clinical development of the EP4 antagonist IK-007 and exploring strategic alternatives for this program.
  • Portfolio reprioritization and streamlining of discovery and clinical activities contribute to extending the cash runway into 2025.
  • Price Action: IKNA shares are up 5.59% at $2.49 on the last check Monday.
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