Ikena Oncology, a Phase 1 oncology biotech developing small molecule inhibitor therapies, raised $125 million by offering 7.8 million shares at $16, within the range of $15 to $17.
Ikena Oncology is a targeted oncology company focused on developing novel cancer therapies targeting key signaling pathways that drive the formation and spread of cancer. Its lead targeted oncology candidate, IK-930, is an oral small molecule inhibitor of the TEAD transcription factor in the Hippo signaling pathway, and the company intends to submit an IND for IK-930 in the 2H21. Ikena is also developing candidates designed to modulate the tumor microenvironment in specific patient populations, with its two most advanced candidates currently being evaluated in Phase 1 trials.
Ikena Oncology plans to list on the Nasdaq under the symbol IKNA. Jefferies, Cowen, Credit Suisse and William Blair acted as lead managers on the deal.
