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

Rhea-AI Summary

Kura Oncology (KURA) has announced the granting of inducement awards to six new employees as approved by the Company's Compensation Committee on March 3, 2025. The awards consist of nonstatutory stock options to purchase 190,000 shares of common stock under the Company's 2023 Inducement Option Plan.

The stock options were granted at an exercise price of $7.25 per share, matching the Company's closing sales price on March 3, 2025. The vesting schedule spans four years, with 25% of shares vesting after the first year, followed by monthly vesting of the remaining shares over 36 months, contingent on continued employment.

Positive

• Successful recruitment of 6 new employees indicating company growth
• Implementation of employee retention strategy through stock options

Negative

• Potential dilution of existing shareholders from 190,000 new stock options

SAN DIEGO, March 07, 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 March 3, 2025, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) granted inducement awards consisting of nonstatutory stock options to purchase 190,000 shares of common stock to six (6) 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 $7.25 per share, the Company’s closing sales price on March 3, 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 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 March 3, 2025?

The stock options were granted at an exercise price of $7.25 per share, matching KURA's closing price on March 3, 2025.

How many shares of KURA stock are covered by the March 2025 inducement grants?

The inducement grants cover nonstatutory stock options to purchase 190,000 shares of common stock.

What is the vesting schedule for KURA's March 2025 inducement stock options?

The options vest over 4 years: 25% after year one, with remaining shares vesting monthly over 36 months.

How many employees received KURA stock option inducement grants in March 2025?

Six new employees received stock option inducement grants.