Ikena Oncology Announces New Cancer Program, Shelves Early Asset For Colorectal Cancer - Ikena Oncology (NASDAQ:IKNA)

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.