Kura Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Kura Oncology (NASDAQ: KURA) has announced the granting of inducement awards to four new employees as approved by the Company's Compensation Committee on April 1, 2025. The awards consist of nonstatutory stock options to purchase 79,500 shares of common stock under the Company's 2023 Inducement Option Plan.
The stock options have an exercise price of $6.38 per share, matching Kura's closing sales price on April 1, 2025. The vesting schedule spans four years, with 25% of shares vesting after one year and the remaining balance vesting monthly over the subsequent 36 months, contingent on continued employment.
Positive
- Company demonstrates ability to attract new talent with equity compensation
Negative
- Potential shareholder dilution from 79,500 new stock options
News Market Reaction
On the day this news was published, KURA declined 4.54%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, April 04, 2025 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (the “Company”) (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced that on April 1, 2025, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) granted inducement awards consisting of nonstatutory stock options to purchase 79,500 shares of common stock to four (4) new employees under the Company’s 2023 Inducement Option Plan, as amended. The Compensation Committee approved the stock options as an inducement material to such employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option has an exercise price equal to
About Kura Oncology
Kura Oncology is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. The Company’s pipeline consists of small molecule drug candidates that target cancer signaling pathways. Ziftomenib, a once-daily, oral menin inhibitor, is the first and only investigational therapy to receive Breakthrough Therapy Designation from the U.S. Food and Drug Administration for the treatment of relapsed/refractory (“R/R”) NPM1-mutant acute myeloid leukemia (“AML”). In November 2024, Kura Oncology entered a global strategic collaboration agreement with Kyowa Kirin Co., Ltd. to develop and commercialize ziftomenib for AML and other hematologic malignancies. Enrollment in a Phase 2 registration-directed trial of ziftomenib in R/R NPM1-mutant AML has been completed. Kura Oncology and Kyowa Kirin are also conducting a series of clinical trials to evaluate ziftomenib in combination with current standards of care in newly diagnosed and R/R NPM1-mutant and KMT2A-rearranged AML. KO-2806, a next-generation farnesyl transferase inhibitor, is being evaluated in a Phase 1 dose-escalation trial as a monotherapy and in combination with targeted therapies. Tipifarnib, a potent and selective farnesyl transferase inhibitor, is currently in a Phase 1/2 trial in combination with alpelisib for patients with PIK3CA-dependent head and neck squamous cell carcinoma. For additional information, please visit Kura’s website at https://kuraoncology.com/ and follow us on X and LinkedIn.
Contacts
Investors:
Patti Bank
Managing Director
(415) 513-1284
patti.bank@icrhealthcare.com
Media:
Alexandra Weingarten
Associate Director, Corporate Communications
& Investor Relations
(858) 500-8822
alexandra@kuraoncology.com
FAQ
What is the exercise price for KURA's new stock options granted on April 1, 2025?
How many shares are included in KURA's April 2025 inducement stock option grants?
What is the vesting schedule for KURA's April 2025 inducement stock options?
How many employees received KURA's April 2025 inducement stock option grants?
