Core Viewpoint - Ikena Oncology, Inc. reported its financial results for Q2 2024, highlighting ongoing clinical activities and strategic corporate updates Pipeline Updates - The Phase 1 study of IK-595 for RAS and RAF mutant cancers is progressing with multiple cohorts passing safety evaluations [2] - Early pharmacokinetics and pharmacodynamics show promising results with dose-dependent exposure and target modulation [2] - The IK-930 clinical program was discontinued in May 2024 [2] Corporate Updates - In May 2024, the company announced a strategic review to maximize shareholder value and implemented a 53% workforce reduction [2] - Jotin Marango was appointed as Chief Operating Officer in July 2024, in addition to his existing roles [2] Financial Results for Q2 2024 - As of June 30, 2024, the company had cash, cash equivalents, and marketable securities totaling $145.4 million [3][9] - Research and development expenses decreased to $9.8 million in Q2 2024 from $15.2 million in Q2 2023 [3][8] - General and administrative expenses remained stable at $5.3 million for both Q2 2024 and Q2 2023 [3][8] Loss and Expenses - Restructuring and other costs for Q2 2024 were reported at $0.7 million [4] - The net loss for Q2 2024 was $13.7 million, down from $17.1 million in Q2 2023 [4][8] - Total operating expenses for Q2 2024 were $15.8 million, compared to $20.5 million in Q2 2023 [8] Selected Financial Information - Collaboration revenue was $0 in Q2 2024, down from $2.0 million in Q2 2023 [8] - The net loss per share for Q2 2024 was $0.28, an improvement from $0.44 in Q2 2023 [8] - Total assets as of June 30, 2024, were $157.5 million, with total liabilities of $14.6 million [9]

Core Viewpoint - Ikena Oncology has decided to discontinue the development of IK-930, a TEAD1-selective Hippo pathway inhibitor, while continuing the clinical development of IK-595, a novel MEK-RAF molecular glue, and is exploring strategic options to maximize shareholder value [2][3][8]. Pipeline & Corporate Updates - The decision to wind down the IK-930 program was based on a review of clinical data, available resources, and the company's strategic priorities [8]. - The Phase 1 program for IK-930 will begin winddown activities, but treatment will continue for patients who have benefited from it [8]. - The first two cohorts in the Phase 1 study of IK-595 have cleared, with plans to backfill in select cohorts in the second half of 2024 [8]. - Promising early pharmacokinetics (PK) and pharmacodynamics (PD) activity have been observed for IK-595, with over 80% pERK inhibition at 4 hours post-dosing and over 60% sustained inhibition through 24 hours [8]. - The company has a cash position of $157 million as of March 31, 2024, which may unlock new strategic opportunities [6][8]. Strategic Direction - The company is evaluating strategic options for both its development pipeline and the IK-930 program, including potential partnerships for combination therapies [3][8]. - Ikena aims to create value through diligent capital expenditure and exploring various strategic alternatives [6].

Core Viewpoint - Ikena Oncology has decided to discontinue the development of its IK-930 program while continuing the clinical development of IK-595, a novel MEK-RAF molecular glue, and is exploring strategic options to maximize shareholder value [1][2][5] Pipeline Updates - The IK-930 program, a TEAD1-selective Hippo pathway inhibitor, is being wound down based on clinical data review and available resources [3] - Patients currently enrolled in the IK-930 program who have benefited will continue to receive treatment [3] - The company is seeking strategic options for IK-930, including potential partnerships for its development in combination with other targeted agents [3] IK-595 Development - The Phase 1 study of IK-595 in patients with RAS and RAF mutant cancers has progressed, with the first two cohorts cleared and backfilling planned for the second half of 2024 [4] - Promising early pharmacokinetics (PK) and pharmacodynamics (PD) data have been observed, including over 80% pERK inhibition at 4 hours post-dosing and sustained above 60% inhibition through 24 hours [4] Corporate Updates - In connection with the discontinuation of IK-930, the company is executing a workforce reduction of approximately 53% [5] - As of March 31, 2024, the company reported $157.3 million in cash, cash equivalents, and marketable securities [5] - The company is exploring a range of strategic alternatives while continuing the development of IK-595 [5]

Core Insights - Ikena Oncology has decided to discontinue the development of its IK-930 program, a TEAD1-selective Hippo pathway inhibitor, while continuing the clinical development of IK-595, a novel MEK-RAF molecular glue [1][2][3] - The company ended the first quarter of 2024 with $157.3 million in cash and equivalents and is exploring strategic options to maximize shareholder value [1][5] IK-930 Program Update - The decision to wind down the IK-930 program was based on a review of clinical data, available resources, and the company's strategic priorities [3] - The Phase 1 program for IK-930 will begin wind down activities, but treatment will continue for patients who have benefited from it [3] - The company is seeking strategic options for IK-930, including potential partnerships for its development in combination with other targeted agents [3][5] IK-595 Program Update - The Phase 1 study of IK-595 in patients with RAS and RAF mutant cancers has progressed, with the first two cohorts cleared and backfilling planned for the second half of 2024 [4] - Promising early pharmacokinetics (PK) and pharmacodynamics (PD) data have been observed, including over 80% pERK inhibition at 4 hours post-dosing and sustained over 60% inhibition through 24 hours [4] Corporate Strategy and Financial Position - In connection with the discontinuation of IK-930, the company is executing a workforce reduction of approximately 53% [5] - The company projects cash and equivalents to range from $110 million to $120 million by December 31, 2024 [5] - Ikena is exploring a range of potential strategic options, including acquisitions, mergers, and partnerships, to create value and unlock new opportunities [5]

Core Viewpoint - Ikena Oncology, Inc. reported a strong financial position with $157.3 million in cash and equivalents, sufficient to fund operations into the second half of 2026, while providing updates on its clinical programs, IK-930 and IK-595, which are progressing as planned [1][3][2]. Financial Results - As of March 31, 2024, the company had cash, cash equivalents, and marketable securities totaling $157.3 million, down from $175.5 million at the end of 2023 [3][10]. - Collaboration revenue for the first quarter of 2024 was $0, compared to $5.3 million in the same period of 2023, due to the completion of the Bristol-Myers Squibb collaboration [4][10]. - Research and development expenses decreased to $9.6 million in Q1 2024 from $15.6 million in Q1 2023 [5][11]. - General and administrative expenses increased to $6.0 million in Q1 2024 from $5.3 million in Q1 2023 [5][11]. - The company reported a net loss of $16.1 million for Q1 2024, compared to a net loss of $14.2 million in Q1 2023 [5][11]. Pipeline Progress - The IK-930 program, a TEAD1-selective Hippo pathway inhibitor, is on track to deliver a clinical update in the second half of 2024 [1][6]. - The IK-595 program, a MEK-RAF molecular glue, continues dose escalation in patients with RAS and RAF mutant cancers, with plans for backfilling in select cohorts in the second half of 2024 [2][6]. - The company is focused on recruiting patients with tumors harboring mutations in the Hippo pathway, particularly mesothelioma patients, for the IK-930 clinical program [6][8]. Corporate Update - In January 2024, the company announced a renewed focus on advancing its core targeted oncology clinical programs, IK-930 and IK-595 [7]. - Dr. Caroline Germa was appointed as Chief Medical Officer in February 2024 [7].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number: 001-40287 IKENA ONCOLOGY, INC. (Exact Name of Registrant as Specified in its Charter) | Delawar ...

BOSTON, April 10, 2024 (GLOBE NEWSWIRE) -- Ikena Oncology, Inc. (Nasdaq: IKNA, “Ikena,” “Company”), a targeted oncology company forging new territory in patient-directed cancer treatment, today announced that management will present a corporate overview at the Stifel 2024 Targeted Oncology Forum, taking place virtually from April 16-17, 2024. The Company will also be holding one-on-one investor meetings at the event. Details are as follows: Date: Tuesday, April 16, 2024Time: 2:00 p.m. ETWebcast Link The web ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-40287 IKENA ONCOLOGY, INC. (Exact name of Registrant as specified in its charter) Delaware 81-1697316 (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number: 001-40287 IKENA ONCOLOGY, INC. (Exact Name of Registrant as Specified in its Charter) Delaw ...

FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number: 001-40287 IKENA ONCOLOGY, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 8 ...