Investors hope shake-up at Ikena could turn things around

29 May 2024

Ikena Oncology (Nasdaq: IKNA) has announced the discontinuation of its IK-930 program, as well as plans to slash its workforce by about 50%.

Shares in the company rose by almost a fifth in pre-market trading on Wednesday.

Ikena said it would carry on with development of IK-595, a novel MEK-RAF molecular glue, and that it would “evaluate strategic options for both its operations and development pipeline.”

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