Ikena Oncology (IKNA) IPO Opens 40% Higher

Today's IPO for Ikena Oncology, Inc. (NASDAQ: IKNA) opened for trading at $22.40 after pricing 7,812,500 shares of common stock at a public offering price of $16.00 per share.

Jefferies, Cowen, Credit Suisse and William Blair are acting as joint book-running managers for the offering.

Ikena Oncology is a targeted oncology company focused on developing cancer therapies targeting key signaling pathways that drive the formation and spread of cancer. Ikena is advancing five programs that include four product candidates in either clinical development or IND-enabling studies: IK-930, a TEAD inhibitor targeting the Hippo signaling pathway; an ERK5 inhibitor program targeting the KRAS signaling pathway; IK-175, an AHR antagonist; IK-412, a kynurenine-degrading enzyme; and IK-007, an EP4 receptor antagonist. Ikena has entered into a global strategic collaboration with Bristol-Myers Squibb Company for its IK-175 and IK-412 programs.

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