Kineta is a clinical-stage biotechnology company developing cancer immunotherapies, focused on monoclonal antibody drugs that target the mechanisms by which tumors resist the immune system. Kineta's lead asset is KVA12123, a VISTA-blocking antibody in a Phase 1/2 clinical trial (VISTA-101) in patients with advanced solid tumors. VISTA is an immune checkpoint that suppresses T cell activity in the tumor microenvironment; high VISTA expression correlates with resistance to existing checkpoint inhibitors like Keytruda. KVA12123 is being tested as both a monotherapy and in combination with Keytruda across indications including non-small cell lung cancer, colorectal cancer, ovarian cancer, renal cell carcinoma, and head and neck squamous cell carcinoma. Kineta has no products on market and generates no product revenue; as a clinical-stage company, its model is to advance drug candidates through trials and then partner, license, or sell those assets. Kineta is effectively in wind-down mode following a failed private placement in 2024, which prompted a ~64% workforce reduction and a pause in clinical enrollment. Kineta has since divested or wound down all assets except KVA12123, and is pending a merger with TuHURA Biosciences valued at up to $35M. If the merger does not close, Kineta's board has indicated it may pursue liquidation or bankruptcy.