Kura Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Kura Oncology (NASDAQ: KURA) announced that its Compensation Committee granted inducement awards to 16 new employees on May 1, 2025. The awards consist of nonstatutory stock options to purchase 433,950 shares of common stock under the Company's 2023 Inducement Option Plan. The stock options have an exercise price of $6.49 per share, matching the company's closing price on May 1, 2025. The options will vest over four years, with 25% vesting after one year and the remaining balance vesting monthly over 36 months, contingent on continued employment. These grants were approved as inducement material for employment in accordance with Nasdaq Listing Rule 5635(c)(4).

SAN DIEGO, May 02, 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 May 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 433,950 shares of common stock to sixteen (16) 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 $6.49 per share, the Company’s closing sales price on May 1, 2025, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees’ continued service relationship with the Company through the applicable vesting dates. The stock options are subject to the terms and conditions of the Company’s 2023 Inducement Option Plan, as amended, and the terms and conditions of an applicable stock option agreement covering the grant.

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 designed to 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 into 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, and in the second quarter of 2025, the companies announced submission of a New Drug Application for ziftomenib for the treatment of adult patients with R/R NPM1-mutant AML. 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 for patients with various solid tumors. 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 type of stock options did KURA grant to its new employees?

KURA granted nonstatutory stock options to purchase 433,950 shares of common stock with an exercise price of $6.49 per share under the 2023 Inducement Option Plan.

How many new employees received stock options from Kura Oncology in May 2025?

Kura Oncology granted stock options to sixteen (16) new employees.

What is the vesting schedule for KURA's May 2025 employee stock options?

The options vest over 4 years, with 25% vesting after one year and the remaining balance vesting monthly over 36 months, subject to continued employment.

What was the exercise price for KURA's May 2025 inducement stock options?

The exercise price was $6.49 per share, which matched Kura Oncology's closing sales price on May 1, 2025.