IK-930 is a small molecule commercialized by Ikena Oncology, with a leading Phase I program in Malignant Mesothelioma. According to Globaldata, it is involved in 1 clinical trial, which is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of IK-930’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for IK-930 is expected to reach an annual total of $60 mn by 2033 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

IK-930 Overview

IK-930 is under development for the treatment of Nf2 and LATS-mutated cancers such as NF2-mutant mesothelioma, epithelioid hemangioendothelioma (EHE), a rare form of soft tissue sarcoma, non-small cell lung cancer (NSCLC) and advanced solid tumors including meningioma, cholangiocarcinoma, thymoma, NSCLC, HCC, colorectal cancer (CRC). The drug candidate is administered as tablet through oral route. It acts by targeting TEAD.

Ikena Oncology Overview

Ikena Oncology, formerly Kyn Therapeutics is a health care provider. The company is advancing novel immunometabolic therapies for the treatment of cancers. Its pipeline development programs include EP4 antagonist IK-007, which promotes immune suppression across a diverse range of immune cells; AHR antagonist, prevent AHR-modulated tumor promotion; and IK-412, a kynurenine-degrading enzyme (Kynase) that targets implicated in immunosuppression across a range of tumor types through multiple immune cell effects. Its immunosuppressive pathway inhibits the IDO and TDO pathway, enabling the body’s immune system to attack the tumor. Ikena Oncology is headquartered in Boston, Massachusetts, the US.

The company reported revenues of (US Dollars) US$31 million for the fiscal year ended December 2021 (FY2021), compared to a revenue of US$9.2 million in FY2020. The operating loss of the company was US$34.1 million in FY2021, compared to an operating loss of US$44.5 million in FY2020. The net loss of the company was US$34.1 million in FY2021, compared to a net loss of US$44.3 million in FY2020. The company reported revenues of US$6.4 million for the third quarter ended September 2022, compared to a revenue of US$0.4 million the previous quarter.

For a complete picture of IK-930’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.