Knte stock – Kinnate Biopharma Inc., as a biopharmaceutical firm, specializes in discovering and advancing small molecule kinase inhibitors for treating cancers defined by genomics in the U.S. The Company is generating KIN-2787, a fast-track fibrosarcoma inhibitor for patients with lung cancer, melanoma, and various solid tumors; KIN-3248 small molecule kinase inhibitors that target changes in fibroblast growth factor receptors FGFR2 and FGFR3 genes; and small molecule research programs which encompass a CDK12 In 2018, the Company formed and is currently headquartered in San Francisco, California. Formerly, Kinnate Biopharma Inc. operated as a Fount Therapeutics, LLC division.

Information

Address: 103 Montgomery Street, Suite 150 The Presidio of San Francisco San Francisco, CA 94129

Contact number: 858 299 4699

Website: www.kinnate.com

Industry: Biotechnology

Sector: Healthcare

About Kinnate Biopharma Inc.

Kinnate Biopharma Inc. is a company in the clinical stage of precision oncology founded on the mission to bring hope to people living with cancer by refining the prospects of targeted therapies. The Company focuses on resolving known oncogenic drivers for which no presently approved targeted therapies exist. Also, it seeks to tackle the issues related to existing cancer therapies, including a lack of responsiveness and the emergence of either acquired or intrinsic resistance.

Exarafenib, an under-investigation pan-RAF inhibitor targeting cancers with BRAF or NRAS-driven mutations, stood as one of the Company’s primary product candidates. The other lead product candidate from The Company is KIN-3248, which is an investigational FGFR inhibitor for those cancers with FGFR2 or FGFR3 alterations. The Company operates early-stage efforts, consisting of a c-MET inhibitor aimed at resistant variants and a brain-penetrant CDK4 selective program. To learn more, visit Kinnate.com and stay in touch with the Company on LinkedIn to learn about its current initiatives.

Kinnate Biopharma Inc. Performance

Financial results

Winding down September 30, 2023, with $180.3 million in cash, cash equivalents, and investments, Kinnate Biopharma was searching for financing that would sustain operations until at least the second quarter of 2026. The net loss for the third quarter of 2023 was $30.7 million for the Company.

Exarafenib and binimetinib

In a study of patients with NRAS mutant melanoma, the combination of exarafenib and binimetinib showed a 38% overall response rate and a 69% disease control rate.

KIN-3248

Kinnate Biopharma’s KIN-3248 is a small-molecule kinase inhibitor that targets FGFR2 and FGFR3 genes commonly associated with solid tumor cancers. The Company is conducting a multi-center, open-label clinical trial to assess the safety, acceptability, and efficacy of KIN-3248.

Strategic review

In September 2023, Kinnate Biopharma announced plans to lay off about 70% of its workforce and suspend the development of three assets.

Acquisition

In February 2024, Kinnate Biopharma agreed to be acquired by XOMA Corporation.

KNTE Financial Forecast

KNTE Earnings Forecast

Next quarter’s earnings estimate for KNTE is -$0.29, with a range of -$0.29 to -$0.29. The previous quarter’s EPS was -$0.36. KNTE beat its EPS estimate 75.00% of the time in the past 12 months, while its overall industry beat the EPS assessment 57.50% in the same period. In the last calendar year, KNTE has Outperformed its overall sector.

KNTE Sales Forecast

Next quarter’s sales forecast for KNTE is $0.00, with a range of $0.00 to $0.00. The previous quarter’s sales results were $0.00. KNTE beat its sales estimates 0.00% of the time in the past 12 months, while its overall industry beat sales estimates 47.36% in the same period. In the last calendar year, KNTE has Underperformed its overall sector.