ISS And Glass Lewis Support Ikena's Share Issuance For Proposed Inmagene Merger

(RTTNews) - Ikena Oncology, Inc. (IKNA) announced that Institutional Shareholder Services - ISS and Glass, Lewis & Co. have recommended shareholders vote in favor of issuing shares for the company's proposed merger with Inmagene Biopharmaceuticals. The vote will take place during Ikena's Annual Meeting of Stockholders on July 15, 2025.

Both ISS and Glass Lewis are prominent proxy advisory firms that guide institutional investors on key shareholder decisions. Inmagene, a privately held clinical-stage biopharma company, is developing IMG-007—a nondepleting anti-OX40 monoclonal antibody designed to reduce safety risks and enable longer dosing intervals. The drug is currently in a global Phase 2B trial for atopic dermatitis.

Ikena CEO Mark Manfredi expressed confidence in IMG-007's value and the broader potential of the merger within the immunology and inflammation (I&I) space, reinforcing the board's commitment to the deal.

Friday, IKNA closed at $1.38, down 0.72%, and is trading flat after hours on the NasdaqGM.