Ikena Oncology, Inc. announced that its stockholders approved the previously disclosed merger with Inmagene Biopharmaceuticals at the Annual Meeting held on July 15, 2025. This approval includes the issuance of shares of Ikena's common stock to Inmagene shareholders and investors in the concurrent financing. The combined company will operate as ImageneBio, Inc. and trade on The Nasdaq Capital Market under the ticker symbol 'IMA'.
Stockholders also approved a proposal granting the board of directors authority to implement a reverse stock split. Ikena subsequently announced a 1-for-12 reverse stock split of its common stock, expected to be effective around the end of July, prior to the merger's closing. This action will reduce the number of issued and outstanding shares from approximately 48.2 million to approximately 4 million.
The closing of the merger and the concurrent financing are anticipated to occur around the end of July. This shareholder approval marks a critical step in Ikena's strategic transformation, enabling the company to advance IMG-007, a non-depleting anti-OX40 monoclonal antibody for immunological and inflammatory diseases.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.