Kura Oncology, Inc. reports news on its precision oncology business, including commercialization of KOMZIFTI™ (ziftomenib), an FDA-approved once-daily oral menin inhibitor for adults with relapsed or refractory NPM1-mutated acute myeloid leukemia. Company updates also cover small-molecule drug candidates designed to target cancer signaling pathways across hematologic malignancies and solid tumors.
Recurring KURA developments include financial results, corporate updates, clinical data presentations, collaboration-related milestones, healthcare conference participation and Nasdaq inducement grants. News on darlifarnib (KO-2806) follows the company’s farnesyl transferase inhibitor program, including studies in combination with cabozantinib for clear cell renal cell carcinoma.
Kura Oncology, Inc. announced the granting of inducement awards in the form of nonstatutory stock options to six new employees under the 2023 Inducement Option Plan. The stock options will allow the purchase of 67,950 shares of common stock at an exercise price of $20.28 per share. The options will vest over four years, with 25% vesting after one year, and the rest vesting monthly over 36 months, contingent on the employees' continued service relationship.
Kura Oncology reported first quarter 2024 financial results, highlighting Breakthrough Therapy Designation for ziftomenib in NPM1-mutant AML, positive preliminary combination data, and first patient dosing with KO-2806 and cabozantinib. The company has $527 million in cash, cash equivalents, and investments, ensuring runway into 2027. Financially, research and development expenses increased to $36.3 million, while general and administrative expenses rose to $18.2 million. The net loss for Q1 2024 was $49.5 million. Management expects current funds to last into 2027.
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