Ikena Oncology prices $40M offering

Ikena Oncology (NASDAQ:IKNA) prices an underwritten offering of 6.11M shares at an offering price of $6.55 per share.
The gross proceeds are expected to be ~$40M.
The offering is expected to close on or about May 17, 2023.
Net proceeds together with existing cash, cash equivalents and investments, to further its ongoing clinical development of targeted oncology programs and advance them to clinical data read outs beyond the initial data for the monotherapy portion of the ongoing IK-930 Phase 1 clinical trial in the fourth quarter of 2023 and initial clinical data for IK-595, in addition to working capital, capital expenditures and other general corporate purposes.