Ikena Oncology, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting a net loss of $10.2 million. This represents a narrowing of the loss compared to $17.3 million for the same period in 2023. The company's loss per share was US$0.21, an improvement from a US$0.40 loss per share in the prior year's third quarter.
As of September 30, 2024, Ikena Oncology held $138.0 million in cash, cash equivalents, and marketable securities. Research and development expenses significantly decreased to $6.8 million for the three months ended September 30, 2024, down from $14.7 million in the corresponding period of 2023.
General and administrative expenses also saw a reduction, totaling $4.8 million for the third quarter of 2024, compared to $6.0 million in the prior year. The company incurred $0.8 million in restructuring and other costs during the three months ended September 30, 2024, reflecting ongoing operational adjustments.
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