iKena cuts 35% of workforce to focus on IK-930 and IK-595, to extend runway

Ikena Oncology, provided an organizational update outlining key objectives toward advancing the development of its lead targeted oncology assets, IK-930 and IK-595. The Company also announced an organizational streamlining that allows for the reallocation of resources from exploratory research and discovery towards the ongoing targeted oncology clinical programs. These efforts reinforce the Company’s dedication to maximize impact and drive advancements in patient-directed treatments for cancer. …The renewed focus on our lead assets, IK-930 and IK-595, underscores our dedication to delivering the full therapeutic potential of our clinical candidates that we believe could transform the lives of cancer patients.”…With the advancement of IK-930 and IK-595, the Company has made the strategic decision to reallocate resources from the discovery organization to the clinical programs…This includes a workforce reduction of approximately 35%, to be implemented over the course of the first quarter of 2024 With approximately $175M in cash and cash equivalents as of December 31 and as a result of the organization changes the Company’s runway is extended into the second half of 2026