Kinnate Biopharma reports Q2 EPS (68c), consensus (75c)

As of June 30, total cash, cash equivalents and investments were $204.3M, which is expected to fund current operations into early 2025..Nima Farzan, chief executive officer of Kinnate Biopharma Inc., stated, “We are pleased to receive FDA clearance of the IND application for our internally developed brain-penetrant MEK inhibitor, KIN-7136. This achievement underscores the rapid progress of Kinnate’s in-house research efforts, which have effectively generated multiple clinical programs within only five years of our founding. In the balance of the year, we look forward to providing initial dose escalation data for KIN-3248, our investigational FGFR inhibitor, as well as additional data for the combination of exarafenib and binimetinib in NRAS-mutant melanoma. With an exciting array of catalysts on the horizon, we are confident in Kinnate’s pipeline growth.”