v3.25.2
Segment Information
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Segment Information
11. Segment Information
The Company operates and manages its business as a
singl
e
operating and reportable segment for the purpose of assessing performance and making operating decisions. The Company’s
chief executive officer
, who is the CODM, reviews the Company’s financial information on an aggregated basis for purposes of evaluating financial performance and allocating resources. The CODM assesses operating performance as compared to planned activities for the operating segment and decides how to allocate resources based on net loss that also is reported on the consolidated statement of operations and comprehensive loss. The Company derives license revenue primarily in the United States from research and development collaborations and manages the business activities on a consolidated basis.
In addition, the CODM is regularly provided the following significant segment financial information to assist in segment performance evaluation, resource allocation, and decision-making (in thousands):
 
    
For the three months
ended June 30,
     
For the six months
ended June 30,
  
    
2025
     
2024
     
2025
     
2024
  
Research and Development
            
Clinical research and outside services
    $ 4,879      $ 3,157      $ 7,988      $ 7,993  
Compensation and related
      774        1,117        1,648        2,305  
Other research and development expenses
(a)
      —         203        —         203  
Stock-based compensation expense
      —         —         57        13,965  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total research and development expense
    $ 5,653      $ 4,476      $ 9,693        24,465  
  
 
 
     
 
 
     
 
 
     
 
 
  
General and Administrative
            
Compensation and related
    $ 589      $ 613        1,328        1,509  
Consulting and professional services
      645        268        2,301        922  
Other general and administrative expenses
(b)
      471        1,029        831        1,926  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total general and administrative expense
    $ 1,705      $ 1,909        4,460        4,357  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
(a)
Other research and development expenses include depreciation and amortization expense and a
non-cash
research and development expense for the ordinary shares issuable pursuant to the Hutchmed Agreement of $14.0 million for the six months ended June 30, 2024.
(b)
Other general and administrative expenses include depreciation and amortization expense, and certain departmental expenses.
Property and equipment, net as of June 30, 2025, and December 31, 2024 is located in the United States.
13. Segment Information
The Company operates and manages its business as a
singl
e
operating and reportable segment for the purpose of assessing performance and making operating decisions. The Company’s
chief executive officer
, who is the CODM, reviews the Company’s financial information on an aggregated basis for purposes of evaluating financial performance and allocating resources. The CODM assesses operating performance as compared to planned activities for the operating segment and decides how to allocate resources based on net loss that also is reported on the consolidated statement of operations and comprehensive loss.
The Company derives license revenue primarily in the United States from research and development collaborations and manages the business activities on a consolidated basis.
In
addition
, the CODM is regularly provided the following significant segment financial information to assist in segment performance evaluation, resource allocation, and decision-making (in thousands):
 
    
For the year ended

December 31,
  
    
2024
     
2023
  
Research and Development
      
Clinical research and outside services
    $ 12,666      $ 15,275  
Compensation and related
      4,001        6,113  
Consulting and professional services
      2        —   
Other research and development expenses
(a)
      15,440        538  
 
 
 
 
 
 
 
 
 
Total research and development expense
    $ 32,109      $ 21,926  
 
 
 
 
 
 
 
 
 
General and Administrative
      
Compensation and related
    $ 2,645        2,602  
Consulting and professional services
      3,152        1,351  
Other general and administrative expenses
(b)
      2,594        4,008  
 
 
 
 
 
 
 
 
 
Total general and administrative expense
    $ 8,391      $ 7,961  
 
 
 
 
 
 
 
 
 
 
(a)
Other research and development expenses include depreciation and amortization expense, losses on sale of property and equipment of $
1.3
 million for the year ended December 31, 2024,
non-cash
research and development expense for issuance of ordinary shares related to the Hutchmed Agreement of $14.0 million for the year ended December 31, 2024, and certain departmental expenses.
(b)
Other general and administrative expenses include depreciation expense, amortization expense, and certain departmental expenses.
The
table
below is a summary of the Company’s geographic information for property and equipment, net (in thousands):
 
    
As of

December 31,
  
    
2024
     
2023
  
China
    $ —       $ 3,321  
United States
      8        13  
 
 
 
 
 
 
 
 
 
Total property and equipment, net
    $ 8      $ 3,334  
 
 
 
 
 
 
 
 
 
IKENA ONCOLOGY INC    
Segment Information
11. Segment Information
The Company manages its operations as a
single
segment for the purposes of assessing performance and making operating decisions. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the Company’s chief operating decision maker, or decision-making group (the “CODM”), in deciding how to allocate resources and assess performance. The CODM of the Company is the
Chief Executive Officer
. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations and comprehensive loss and the Company’s operations are managed on a consolidated basis to decide where to allocate and invest additional resources within the business.
As a
single
reportable segment entity, the Company’s segment performance measure is net loss. In addition to the significant expense categories included within consolidated net loss presented in the condensed consolidated statements of operations and comprehensive loss, see below for disaggregated amounts that comprise research and development expenses (in thousands):
 
    
Three Months

Ended June 30,
     
Six Months

Ended June 30,
  
    
2025
     
2024
     
2025
     
2024
  
Research and development
            
Direct research and development expenses by program:
            
IK-930
    $ 313      $ 3,846      $ 712      $ 6,304  
IK-595
      3,123        2,318        5,574        3,982  
IK-175
      33        86        41        498  
Discovery and other programs
      64        802        85        759  
Unallocated expense:
            
Personnel related (including stock-based
compensation)
      313        2,150        948        5,722  
Other research and development cost
      179        630        380        2,212  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total research and development expenses
    $ 4,025      $ 9,832      $ 7,740      $ 19,477  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
Other segment information such as
non-cash
stock-based compensation or depreciation and amortization or interest expense are not provided to the CODM but are included in net loss. Such amounts are detailed in the Company’s condensed consolidated statements of operations and comprehensive loss or in its condensed consolidated statements of cash flows. See the condensed consolidated financial statements for other segment financial information.
Asset information is not regularly provided to the CODM for assessing performance and allocating resources other than consolidated cash, cash equivalents and marketable debt securities, which can be found on the Company’s condensed consolidated balance sheets.
All long-lived assets of the Company are held in the United States.
18. SEGMENT INFORMATION
The Company manages its operations as a
single
segment for the purposes of assessing performance and making operating decisions. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the Company’s chief operating decision maker, or decision-making group (the “CODM”), in deciding how to allocate resources and assess performance. The CODM of the Company is the
Chief Executive Officer
. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations and comprehensive loss and the Company’s operations are managed on a consolidated basis to decide where to allocate and invest additional resources within the business.
 
As a
single
reportable segment entity, the Company’s segment performance measure is net loss. In addition to the significant expense categories included within consolidated net loss presented in the consolidated statements of operations and comprehensive loss, see below for disaggregated amounts that comprise research and development expenses (in thousands):
 
    
Year Ended
December 31,
  
    
2024
     
2023
  
Research and development
      
Direct research and development expenses by program:
      
IK-930
    $ 8,684      $ 11,608  
IK-595
      9,682        8,068  
IK-175
      480        2,677  
Discovery and other programs
      1,092        10,218  
Unallocated expense:
      
Personnel related (including stock-based compensation)
      8,186        19,571  
Other research and development cost
      2,751        7,510  
  
 
 
     
 
 
  
Total research and development expenses
    $ 30,875      $ 59,652  
  
 
 
     
 
 
  
Other segment information such as
non-cash
stock-based compensation or depreciation and amortization or interest expense are not provided to the CODM but are included in net loss. Such amounts are detailed in the Company’s consolidated statements of operations and consolidated loss or in its consolidated statements of cash flows. See the consolidated financial statements for other segment financial information regarding.
Asset information is not regularly provided to the CODM for assessing performance and allocating resources other than consolidated cash, cash equivalents and marketable debt securities, which can be found on the Company’s consolidated balance sheets.
All long-lived assets of the Company are held in the United States.