Ikena Oncology, Inc. (formerly KYN Therapeutics)

General Information
Business:

We are a targeted oncology company focused on developing novel cancer therapies targeting key signaling pathways that drive the formation and spread of cancer. Since we commenced operations in 2016, we have discovered or developed five oncology programs that include four product candidates in either IND-enabling studies or clinical development. Our lead targeted oncology product candidate is IK-930, an oral small molecule inhibitor of the TEAD, transcription factor in the Hippo signaling pathway – a factor in about 10 percent of all cancers.  We plan to focus on mesothelioma and soft tissue sarcomas. We intend to submit an IND application to the U.S. Food and Drug Administration (FDA) for IK-930 in the second half of 2021. For our second targeted oncology program, we discovered and plan to develop oral small molecule inhibitors of extracellular signal-related kinase 5, or ERK5, a downstream enzyme in the RAS signaling pathway. We anticipate  submitting an IND for an ERK5 development product candidate in the second half of 2022.

In addition to our targeted oncology programs, we have three product candidates designed to modulate the tumor microenvironment in specific patient populations by leveraging biomarker-driven patient enrichment strategies. Two of these product candidates, IK-175 and IK-412, are partnered with Bristol-Myers Squibb Company, or BMS: IK-175, for which we are enrolling patients with bladder cancer in a clinical trial, and IK-412, an enzyme therapy designed to lower levels of immunosuppressive kynurenine in the tumor microenvironment. We intend to submit an IND for IK-412 in the second half of 2021.

Finally, we are evaluating IK-007, an oral antagonist of prostaglandin E2 receptor 4, or EP4, in a Phase 1b clinical trial in biomarker-enriched patients with microsatellite stable colorectal cancer, or MSS CRCl.  We expect to complete enrollment for the Phase 1b clinical trial in the second half of 2021.

(Note: Ikena Oncology priced its IPO on March 25, 2021, in line with the terms in its prospectus: 7.81 million shares at $16 – the mid-point of its $15-to-$17 range – to raise $124.96 million.)

 

Industry: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES)
Employees: 33
Founded: 2016
Contact Information
Address 645 Summer Street, Suite 101 Boston, MA 02210
Phone Number (857) 273-8343
Web Address http://www.ikenaoncology.com/
View Prospectus: Ikena Oncology, Inc. (formerly KYN Therapeutics)
Financial Information
Market Cap $553.44mil
Revenues $0 mil (last 12 months)
Net Income $-44.3 mil (last 12 months)
IPO Profile
Symbol IKNA
Exchange NASDAQ
Shares (millions): 7.8
Price range $16.00 - $16.00
Est. $ Volume $125.0 mil
Manager / Joint Managers Jefferies/Cowen/Credit Suisse/William Blair
CO-Managers -
Expected To Trade: 3/26/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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