$40 Million

Ikena Oncology, Inc.

Underwritten Offering

Lead Left Bookrunner, May 2023

Ikena Oncology, Inc.

Ikena Oncology, Inc. (NASDAQ: IKNA) (“Ikena” or the “Company”) is a targeted oncology company, focused on developing differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the Hippo and RAS onco-signaling network. The Company’s lead targeted oncology program, IK-930, is a TEAD1-selective Hippo pathway inhibitor, a known tumor suppressor pathway that also drives resistance to multiple targeted therapies. Initial data from the monotherapy IK-930 cohort of the ongoing Phase 1 clinical trial is expected in the fourth quarter of 2023. Ikena’s first program in the RAS pathways, IK-595, is designed to trap MEK and RAF in an inactive complex, more completely inhibiting RAS signals than existing inhibitors. In addition, the Company is developing IK-175, an aryl hydrocarbon receptor (“AHR”) antagonist in collaboration with Bristol-Myers Squibb Company (“Bristol-Myers Squibb”). Ikena also has a robust discovery engine and a portfolio of early stage targeted oncology programs.