{"id":13666,"date":"2023-09-20T01:13:00","date_gmt":"2023-09-19T17:13:00","guid":{"rendered":"https:\/\/flcube.com\/?p=13666"},"modified":"2024-11-20T01:19:18","modified_gmt":"2024-11-19T17:19:18","slug":"kinnate-biopharma-announces-restructuring-and-job-cuts-amid-financial-pressures","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=13666","title":{"rendered":"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures"},"content":{"rendered":"\n<p>US-based Kinnate Biopharma Inc., (NASDAQ: KNTE), a company dedicated to the development of small-molecule cancer drugs, has announced significant corporate restructuring due to financial stress. This includes a reduction of 70% of its workforce, leaving the company with only 28 employees.<\/p>\n\n\n\n<p><strong>Pipeline Program Adjustments<\/strong><br>As part of the restructuring, three pipeline programs are being re-evaluated. The preclinical MEK inhibitor KIN-7136 will not proceed to clinical trials, and the development of the pan-RAF inhibitor exarafenib (KIN-2787) as a monotherapy will be halted after reaching Phase I. The company will explore &#8220;strategic alternatives&#8221; for these programs. The FGFR inhibitor KIN-3248, which is in an ongoing dose-escalation study, will also be reassessed.<\/p>\n\n\n\n<p><strong>Strategic Review and Financial Considerations<\/strong><br>The decisions were made following a strategic review that took into account the company&#8217;s cash runway and the commercial potential of its pipeline programs. As of June 30, 2023, Kinnate reported having approximately USD 204.3 million in cash or cash equivalents, which is expected to fund operations into at least Q2 2026. The combination of exarafenib with binimetinib will continue to be explored due to positive data in NRAS mutant melanoma and BRAF-altered solid tumors. Additionally, the development of the c-MET inhibitor KIN-8741 will proceed, with an Investigational New Drug application to be filed. Kinnate also plans to nominate a drug candidate for the brain-penetrant CDK4 selective program in Q4 2023.<\/p>\n\n\n\n<p><strong>Impact on China Operations<\/strong><br>The restructuring will also affect China, where Kinnate will &#8220;separate from all employees of its wholly-owned subsidiary, Kinnjiu Biopharma.&#8221; Established in 2021 with a Series A financing led by OrbiMed Asia Partners that raised USD 35 million, Kinnjiu was a joint venture with China-based Precision Medicine Asia, which licensed rights to three of Kinnate\u2019s pipeline programs, including the now discontinued exarafenib, KIN-3248, and another unnamed candidate.<a href=\"https:\/\/flcube.com\">-Fineline Info &amp; Tech<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US-based Kinnate Biopharma Inc., (NASDAQ: KNTE), a company dedicated to the development of small-molecule cancer&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[2203,2204],"class_list":["post-13666","post","type-post","status-publish","format-standard","hentry","category-company","tag-kinnate-biopharma","tag-nasdaq-knte"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"US-based Kinnate Biopharma Inc., (Nasdaq: KNTE), a company dedicated to the development of small-molecule cancer drugs, has announced significant corporate restructuring due to financial stress. This includes a reduction of 70% of its workforce, leaving the company with only 28 employees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flcube.com\/?p=13666\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures\" \/>\n<meta property=\"og:description\" content=\"Navigate the complexities of China\u2019s pharmaceutical industry with precision and clarity. FLCUBE delivers reliable data, news, and intelligence to broaden your horizons and sharpen your decision-making. Stay informed, stay ahead with FLCUBE.COM\" \/>\n<meta property=\"og:url\" content=\"https:\/\/flcube.com\/?p=13666\" \/>\n<meta property=\"og:site_name\" content=\"Insight, China&#039;s Pharmaceutical Industry\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61566606313834\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-19T17:13:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-19T17:19:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1894\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Fineline Cube\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fineline Cube\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=13666#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=13666\"},\"author\":{\"name\":\"Fineline Cube\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/person\\\/19ad11870d326204db8524d3c3c5e66a\"},\"headline\":\"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures\",\"datePublished\":\"2023-09-19T17:13:00+00:00\",\"dateModified\":\"2024-11-19T17:19:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=13666\"},\"wordCount\":302,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\"},\"keywords\":[\"Kinnate Biopharma\",\"NASDAQ: KNTE\"],\"articleSection\":[\"Company\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/flcube.com\\\/?p=13666#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=13666\",\"url\":\"https:\\\/\\\/flcube.com\\\/?p=13666\",\"name\":\"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures - Insight, China&#039;s Pharmaceutical Industry\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#website\"},\"datePublished\":\"2023-09-19T17:13:00+00:00\",\"dateModified\":\"2024-11-19T17:19:18+00:00\",\"description\":\"US-based Kinnate Biopharma Inc., (Nasdaq: KNTE), a company dedicated to the development of small-molecule cancer drugs, has announced significant corporate restructuring due to financial stress. This includes a reduction of 70% of its workforce, leaving the company with only 28 employees.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=13666#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/flcube.com\\\/?p=13666\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=13666#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/flcube.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#website\",\"url\":\"https:\\\/\\\/flcube.com\\\/\",\"name\":\"Insight, China's Pharmaceutical Industry\",\"description\":\"Fineline Insights, Pharma Clarity\",\"publisher\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/flcube.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\",\"name\":\"Fineline Infomation and Technology\",\"alternateName\":\"Fineline Info & Tech\",\"url\":\"https:\\\/\\\/flcube.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/flcube.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Fineline-info-tech-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/flcube.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Fineline-info-tech-scaled.jpg\",\"width\":2560,\"height\":1894,\"caption\":\"Fineline Infomation and Technology\"},\"image\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61566606313834\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/person\\\/19ad11870d326204db8524d3c3c5e66a\",\"name\":\"Fineline Cube\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g\",\"caption\":\"Fineline Cube\"},\"sameAs\":[\"https:\\\/\\\/flcube.com\"],\"url\":\"https:\\\/\\\/flcube.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures - Insight, China&#039;s Pharmaceutical Industry","description":"US-based Kinnate Biopharma Inc., (Nasdaq: KNTE), a company dedicated to the development of small-molecule cancer drugs, has announced significant corporate restructuring due to financial stress. This includes a reduction of 70% of its workforce, leaving the company with only 28 employees.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/flcube.com\/?p=13666","og_locale":"en_US","og_type":"article","og_title":"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures","og_description":"Navigate the complexities of China\u2019s pharmaceutical industry with precision and clarity. FLCUBE delivers reliable data, news, and intelligence to broaden your horizons and sharpen your decision-making. Stay informed, stay ahead with FLCUBE.COM","og_url":"https:\/\/flcube.com\/?p=13666","og_site_name":"Insight, China&#039;s Pharmaceutical Industry","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61566606313834","article_published_time":"2023-09-19T17:13:00+00:00","article_modified_time":"2024-11-19T17:19:18+00:00","og_image":[{"width":2560,"height":1894,"url":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","type":"image\/jpeg"}],"author":"Fineline Cube","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Fineline Cube","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/flcube.com\/?p=13666#article","isPartOf":{"@id":"https:\/\/flcube.com\/?p=13666"},"author":{"name":"Fineline Cube","@id":"https:\/\/flcube.com\/#\/schema\/person\/19ad11870d326204db8524d3c3c5e66a"},"headline":"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures","datePublished":"2023-09-19T17:13:00+00:00","dateModified":"2024-11-19T17:19:18+00:00","mainEntityOfPage":{"@id":"https:\/\/flcube.com\/?p=13666"},"wordCount":302,"commentCount":0,"publisher":{"@id":"https:\/\/flcube.com\/#organization"},"keywords":["Kinnate Biopharma","NASDAQ: KNTE"],"articleSection":["Company"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/flcube.com\/?p=13666#respond"]}],"copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/flcube.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/flcube.com\/?p=13666","url":"https:\/\/flcube.com\/?p=13666","name":"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures - Insight, China&#039;s Pharmaceutical Industry","isPartOf":{"@id":"https:\/\/flcube.com\/#website"},"datePublished":"2023-09-19T17:13:00+00:00","dateModified":"2024-11-19T17:19:18+00:00","description":"US-based Kinnate Biopharma Inc., (Nasdaq: KNTE), a company dedicated to the development of small-molecule cancer drugs, has announced significant corporate restructuring due to financial stress. This includes a reduction of 70% of its workforce, leaving the company with only 28 employees.","breadcrumb":{"@id":"https:\/\/flcube.com\/?p=13666#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/flcube.com\/?p=13666"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/flcube.com\/?p=13666#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/flcube.com\/"},{"@type":"ListItem","position":2,"name":"Kinnate Biopharma Announces Restructuring and Job Cuts Amid Financial Pressures"}]},{"@type":"WebSite","@id":"https:\/\/flcube.com\/#website","url":"https:\/\/flcube.com\/","name":"Insight, China's Pharmaceutical Industry","description":"Fineline Insights, Pharma Clarity","publisher":{"@id":"https:\/\/flcube.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/flcube.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/flcube.com\/#organization","name":"Fineline Infomation and Technology","alternateName":"Fineline Info & Tech","url":"https:\/\/flcube.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/","url":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","contentUrl":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","width":2560,"height":1894,"caption":"Fineline Infomation and Technology"},"image":{"@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61566606313834"]},{"@type":"Person","@id":"https:\/\/flcube.com\/#\/schema\/person\/19ad11870d326204db8524d3c3c5e66a","name":"Fineline Cube","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","caption":"Fineline Cube"},"sameAs":["https:\/\/flcube.com"],"url":"https:\/\/flcube.com\/?author=1"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/13666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13666"}],"version-history":[{"count":1,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/13666\/revisions"}],"predecessor-version":[{"id":13668,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/13666\/revisions\/13668"}],"wp:attachment":[{"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}