TuHURA Biosciences Reports Second Quarter 2026 Financial Results and Provides a Corporate Update
Rhea-AI Summary
TuHURA Biosciences (NASDAQ:HURA) reported second quarter 2026 results and a corporate update for the period ended June 30, 2026. The company highlighted progress across its immuno-oncology pipeline, including filing an IND for VISTA-inhibiting antibody TBS-2025 in molecularly defined subsets of AML and other blood cancers, aligned with prior FDA guidance.
TuHURA detailed a $50 million term credit facility and royalty transaction from its largest shareholder, bearing 12% annual interest and maturing on April 21, 2031, which it expects will extend its cash runway into 2028. The company outlined multiple anticipated milestones through 2027 for IFx-2.0, TBS-2025 and its MDSC inhibitor ADCs, including potential orphan drug designations and initiation of a Phase 1b/2 AML trial.
As of June 30, 2026, TuHURA reported $1.0 million in cash and cash equivalents and approximately 63.7 million common shares outstanding. Second quarter 2026 R&D expenses were $6.6 million versus $4.9 million a year earlier, while G&A expenses were $2.1 million versus $1.9 million. Net cash used in operating activities was $13.0 million for the first half of 2026, partly offset by $10.6 million in net cash from financing activities, including ATM and credit facility proceeds.
Positive
- $50 million term credit facility extends anticipated cash runway into 2028
- Filed IND for TBS-2025 VISTA antibody in AML and blood cancers
- Multiple clinical milestones expected 2H 2026–2027 across IFx-2.0, TBS-2025, MDSC ADCs
- R&D investment increased to $6.6 million in Q2 2026 from $4.9 million
- Net cash from financing activities rose to $10.6 million in 1H 2026 from $8.1 million
Negative
- Cash and cash equivalents only $1.0 million at June 30, 2026
- Net cash used in operations increased to $13.0 million in 1H 2026 from $10.9 million
- New $50 million credit facility carries 12% annual interest on drawn amounts
- R&D and G&A expenses increased YoY, driving higher cash burn
News Explained
The financing is partly deployed: the company reports
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 15 | Q1 earnings report | Positive | +10.4% | Credit facility and orphan designation highlighted alongside pipeline milestone plans |
| Apr 01 | FY2025 earnings report | Positive | -9.5% | Phase 3 trial progress and acquisition completion accompanied year-end financial results |
| Nov 14 | Q3 earnings report | Positive | +0.5% | Phase 3 enrollment and ATM facility plans accompanied increased operating expenses |
| Aug 14 | Q2 earnings report | Positive | +10.9% | Kineta acquisition and Phase 3 trial initiation highlighted with additional financing |
| May 15 | Q1 earnings report | Positive | +2.1% | Planned Phase 3 and Phase 2 trial starts accompanied by pipeline expansion |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-tag history was mostly aligned with positive announcements, but the April 1, 2026 event diverged despite a positive reported update.
Key Terms
investigational new drug regulatory
orphan drug designation regulatory
atm program financial
bi-specific antibody drug conjugates medical
non-convertible financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
"We have made significant progress in advancing all our programs forward and are positioned to continue driving towards several anticipated milestones targeted for the second half of the year," said Dr. James Bianco, President and CEO of TuHURA Biosciences. "In the second half, we anticipate receiving safe-to-proceed feedback from FDA and to initiating our Phase 1b/2 trial of VISTA in mutNPM1 r/r AML, initiating our in vivo POC studies for MDSC Inhibitors (Bi-specific antibody drug conjugates (ADCs)), potentially receiving orphan drug designation in Merkel cell carcinoma (MCC) for IFx-2.0, and potentially receiving orphan drug designation in AML for TBS-2025. The recent
Second Quarter and Recent Corporate Highlights:
- Filed Investigational New Drug (IND) Application for Evaluation of the TBS-2025 VISTA Inhibiting Antibody in Molecularly Defined Subsets of AML and other Blood Related Cancers. The IND is aligned with guidance previously provided by the
U.S . Food and Drug Administration (FDA) on the development pathway for both monotherapy and combination with menin inhibitors for Acute Myeloid Leukemia (AML). The FDA noted that the previously planned IND meeting would not be necessary and instead the FDA provided written responses to questions and information related to the Company's proposed Phase 1b/2 development plan for TBS-2025 in AML.
- In April 2026, the Company announced a
$50 million 12% annual interest rate on outstanding funds drawn, with interest paid monthly and principal repayment due at a 5-year maturity date for April 21, 2031. The facility was provided by TuHURA's largest shareholder.
Currently Anticipated Milestones by Program
IFx-2.0 (Innate Immune Agonist)
- 2H 2026: Expect to receive orphan drug designation in MCC
- 1H2027: Expect preliminary results from IR study IFX-2.0 with Keytruda® for deep seated MCC
- 2H 2027: Expect to complete enrollment in the Phase 3 study of IFx-2.0
TBS-2025 (VISTA inhibiting mAb)
- 2H 2026: Expect to initiate Phase 1b/2 trial of VISTA in mutNPM1 r/r AML
- 2H 2026: Expect to receive orphan drug designation in AML
- 1H 2027: Expect preliminary safety and response data for VISTA in mutated NMP1 r/r AML
MDSC Inhibitors (Bi-specific ADCs)
- 2H 2026: Presentations at key scientific meetings
- 2H 2026: Initiation of ADC in vivo POC studies
Summary of Financial Results for the Second Quarter 2026
Cash and cash equivalents of
Research and development expenses were
General and administrative (G&A) expenses were
Net cash outflows from operating activities were
Net cash flows from financing activities were
About TuHURA Biosciences, Inc.
TuHURA Biosciences, Inc. (NASDAQ: HURA) is a Phase 3 immuno-oncology company developing novel technologies to overcome primary and acquired resistance to cancer immunotherapy, two of the most common reasons cancer immunotherapies fail to work or stop working in the majority of patients with cancer.
TuHURA's lead innate immune agonist, IFx-2.0, is designed to overcome primary resistance to checkpoint inhibitors. TuHURA is enrolling patients in its randomized placebo-controlled Phase 3 registration trial of IFx-2.0 administered as an adjunctive therapy to Keytruda® (pembrolizumab) compared to Keytruda® plus placebo in first-line treatment for advanced or metastatic Merkel Cell Carcinoma.
In addition to its innate immune agonist product candidates, TuHURA is developing TBS-2025, a VISTA inhibiting mAb moving into dose escalation/optimization Phase 1b trial in mutNPM1 r/r AML, a molecularly defined subgroup representing approximately
For more information, please visit www.tuhurabio.com and connect with TuHURA on Facebook, X, and LinkedIn.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of, and subject to the safe harbor created by, Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These Forward-Looking Statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and other future conditions. In some cases, you can identify these statements by forward-looking words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "could," "should," "would," "project," "plan," "expect," "goal," "seek," "future," "likely," or the negative or plural of these words or similar expressions. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in these forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, among others: the risk that funds available under the Company's credit facility may be insufficient to fund the Company's operations and development programs to the extent anticipated; risks associated with conducting the ongoing Phase 3 trial for IFx.20; the risks associated with continuing the development of TBS-2025 and our DOR technologies; risks related to patient enrollment, trial design, data outcomes and regulatory interactions; uncertainty regarding the timing and likelihood of regulatory approvals; and the other risks described from time to time in detail in Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed on March 31, 2026, and TuHURA's other reports and filings with the SEC from time to time, which are available on TuHURA's website and at www.sec.gov.
The forward-looking statements and other information contained in this press release are made as of the date hereof, and TuHURA does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Investor Contact:
Monique Kosse
Gilmartin Group
Monique@GilmartinIR.com
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SOURCE TuHURA Biosciences, Inc.