ImageneBio, Inc. (IMA): restructuring charge — Ikena Oncology cuts workforce 35%, focuses on IK-930/595; BMS declines opt-in on two programs

ImageneBio, Inc.

Workforce reduction of ~35% (approx. 20 employees) to focus on clinical programs IK-930 and IK-595.
Cash, cash equivalents and marketable securities ~$175M as of Dec 31, 2023 (unaudited); runway extended into 2H 2026.
Bristol Myers Squibb declined opt-in for IK-175 program; also did not opt-in for IK-412; full rights returned to Ikena.
IK-930 optimized formulation now in clinic; clinical data update planned for 2H 2024.
IK-595 first cohort dosed and cleared safety evaluation window; enrollment in RAS/RAF mutant patients ongoing.

item 2.02 item 2.05 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ImageneBio, Inc. announced a restructuring with charges of approximately $1.6 million affecting discovery organization, as well as select employees working in development and general and administrative functions (approximately 35%).

Type: restructuring
Charge: approximately $1.6 million
Affected area: discovery organization, as well as select employees working in development and general and administrative functions
Headcount: approximately 35%

Exact text from the filing

to the discontinuation of its discovery efforts and expects to recognize these charges during the three months ended March 31, 2024, of which aggregate charges of approximately $1.6 million relate to the Workforce Reduction. Expenses related to the Workforce Reduction consist of employee severance and related termination benefits, and are expected to result in

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

ImageneBio, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-010227

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