Loading...
Loading...
On Tuesday, Ikena Oncology Inc IKNA discontinued the clinical IK-930 program, the company’s TEAD1- selective Hippo pathway inhibitor, and continued clinical development of IK-595, a novel MEK-RAF molecular glue . Concurrently, Ikena is evaluating strategic options for the company and its development pipeline. The company said that based on a review of clinical data to date, available resources, and strategic priorities, the company decided to discontinue the development of IK-930.
The IK-930 Phase 1 program will begin winding down activities; treatment will continue for enrolled patients who have derived benefits. The company will seek strategic options for the program, including potential partners for developing IK-930 in combination with other targeted agents. In November 2023, Ikena shared initial data from twenty-six patients treated in the ongoing dose escalation portion of the Phase 1 trial of IK-930 .
In connection with the discontinuation of IK-930 development, the company is executing a workforce reduction of approximately 53% Ikena reported $157 million in cash, cash equivalents, and marketable securities as of March 31, 2024. William Blair writes, “The discontinuation of IK-930 is clearly a disappointment, as it removes the potential for a meaningful clinical catalyst later this year with the updated formulation following a disappointing initial clinical readout in the fall of 2023.” The analyst adds, “We believe clear single-agent act.