Ikena Oncology Announces $40 Million Underwriting Offer – Ikena…

Ikena Oncology Announces $40 Million Underwriting Offer – Ikena…


BOSTON, May 15, 2023 (GLOBE NEWSWIRE) — Ikena Oncology, Inc. IKNA “Ikena” (“Company”)), a specialty oncology company pioneering patient-centric cancer care, today announced pricing for an underwritten offering of 6,110,000 common shares (the “Shares”) at an offer price of $6.55 per share. The Company’s gross proceeds, before deducting subscription discounts and commissions and estimated offering costs, are expected to be approximately $40 million. The offering is expected to close on or about May 17, 2023, subject to satisfaction of customary closing conditions. The Company anticipates that the net proceeds of the offering, together with existing cash, cash equivalents and investments, will be used to advance ongoing clinical development of targeted oncology programs and beyond the original data for the monotherapy portion of the ongoing IK for clinical readout to advance -930 Phase 1 clinical trial in Q4 2023 and initial clinical data for IK-595, in addition to working capital, capital expenditures and other general corporate purposes. The financing was co-led by a new healthcare-focused investor and included other new investors, Acuta Capital Partners, Adage Capital and Vestal Point Capital, as well as participation from existing investors.

TD Cowen and William Blair are acting as joint bookrunners for the offering and HC Wainwright & Co. is acting as lead manager for the offering.

A shelf registration statement on Form S-3 (File Number 333-264517) relating to the offering of the securities described above was filed with the Securities and Exchange Commission (“SEC”) on April 27, 2022 and became effective on May 5, 2022 The offering is being made solely by means of a prospectus, including a prospectus supplement, which forms part of an effective registration statement. A prospectus supplement and a related prospectus relating to the offered common stock have been filed with the SEC…


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