IKNA Overview

Upcoming Stock Splits: Several companies are implementing stock splits or reverse stock splits from July 28 to August 1, including ChargePoint, FOXO Technologies, and Mersana Therapeutics, primarily to comply with listing standards and improve share prices.

Types of Stock Splits: Companies may opt for forward splits to increase share liquidity or reverse splits to boost share prices, both strategies aimed at attracting investors and maintaining compliance with stock exchange regulations.

Company Merger and Trading: Inmagene Biopharmaceuticals has merged with Ikena Oncology to form ImageneBio, Inc., which will begin trading on Nasdaq under the ticker symbol "IMA" starting July 28, 2025.

Clinical Trials and Product Development: The new company will continue the Phase 2b clinical trial of its lead product, IMG-007, a monoclonal antibody for treating moderate-to-severe atopic dermatitis, with topline results expected in Q4 2026.

Merger Announcement: Ikena Oncology, Inc. has announced a merger with Inmagene Biopharmaceuticals, with stockholders approving the merger and a 1-for-12 reverse stock split, which will reduce the number of outstanding shares significantly.

New Trading Name and Ticker: Post-merger, the combined company will be renamed ImageneBio, Inc. and will trade on Nasdaq under the ticker symbol "IMA," with trading expected to begin around the end of July 2025.

Merger Recommendation: Ikena Oncology has received recommendations from ISS and Glass Lewis for shareholders to approve the issuance of shares for its merger with Inmagene Biopharmaceuticals, set to be voted on during the Annual Meeting on July 15, 2025.

Drug Development Insight: Inmagene is developing IMG-007, an anti-OX40 monoclonal antibody currently in a Phase 2B trial for atopic dermatitis, which Ikena's CEO believes holds significant value for the merger's potential in the immunology and inflammation sector.

Leadership Change at Traws Pharma: Werner Cautreels, PhD, will retire as CEO of Traws Pharma on March 31, 2025, transitioning to a Board Member and special advisor role, while Iain D. Dukes, D Phil, will take over as Interim CEO.

Company's Focus and Future Plans: Traws Pharma is dedicated to developing novel antiviral therapies for respiratory viral diseases, with ongoing clinical programs targeting bird flu and COVID-19, and an Investor Update call scheduled for March 31, 2025.

Ikena Oncology (IKNA): Analyst Matt Phipps from William Blair maintains a Buy rating on Ikena Oncology, which has a Moderate Buy consensus among analysts, despite Phipps' average return being -10.4%.

PMV Pharmaceuticals (PMVP): Analyst Yaron Werber from TD Cowen also holds a Buy rating for PMV Pharmaceuticals, which is near its 52-week low, and has a Moderate Buy consensus with an average return of 8.2%.