Ikena Oncology Inc (IKNA)

Ikena Oncology Inc Stock (IKNA) dropped by 67.80% from $4.13 to $1.33 in the trading on Thursday November 9, 2023. The reasons why IKNA stock down today include:

• Q3 financials: Ikena Oncology has recently reported its Q3 revenue results, which have disappointed investors and caused IKNA stock down today. In the third quarter of 2023, Ikena Oncology experienced a net loss of USD 17.34 million, which is the same as the loss reported a year ago.
• Early data for lead asset: The October 31 readout involved seven patients with epithelioid hemangioendothelioma (EHE), a rare soft tissue sarcoma, in a dose escalation portion of an ongoing Phase I trial. While all seven EHE patients indicated stable disease as the best response, the company said three out of seven experienced tumor shrinkage.