Mural Oncology PLC Stock Price, News & Analysis

Mural Oncology plc (historically traded on the Nasdaq Global Market under the symbol MURA) was a biotechnology company in the field of immuno-oncology. According to company announcements, Mural Oncology focused on using a protein engineering platform to develop cytokine-based immunotherapies for the treatment of cancer, with the stated goal of delivering meaningful clinical benefits to people living with cancer. The company’s registered office was in Dublin, Ireland, and it reported having its primary facilities in Waltham, Massachusetts.

Public disclosures describe Mural Oncology as a clinical-stage immuno-oncology company. Its work centered on cytokine-based immunotherapies, reflecting an approach that used engineered cytokine molecules as potential treatments for cancer. The company’s development activities included clinical trials of its lead product candidate, nemvaleukin alfa, as referenced in multiple press releases and regulatory filings.

Corporate structure and locations

Mural Oncology was organized as a public limited company under the laws of Ireland. It reported its registered office in Dublin, Ireland, and identified Waltham, Massachusetts as the location of its primary facilities. The company’s ordinary shares, with a nominal value of $0.01, were listed on the Nasdaq Global Market under the ticker MURA, as disclosed in its Form 8-K filings.

Clinical development history

Company announcements state that Mural Oncology conducted clinical development of nemvaleukin alfa, including a Phase 3 trial (ARTISTRY-7) in platinum-resistant ovarian cancer and a Phase 2 trial (ARTISTRY-6) in melanoma. On March 25, 2025, the company announced that the ARTISTRY-7 trial of nemvaleukin in combination with pembrolizumab did not achieve its primary endpoint of a statistically significant improvement in overall survival versus investigator’s choice chemotherapy. As a result, ARTISTRY-7 was not continued to final analysis, and Mural Oncology stated that it would cease development of nemvaleukin for platinum-resistant ovarian cancer.

On April 15, 2025, following review of data from the Phase 2 ARTISTRY-6 trial of nemvaleukin in mucosal and cutaneous melanoma and the previously announced results from ARTISTRY-7, Mural Oncology announced that it was discontinuing all clinical development of nemvaleukin. The same announcement stated that the company planned to commence an exploration of strategic alternatives focused on maximizing shareholder value.

Strategic alternatives and operational changes

In its April 15, 2025 announcement, Mural Oncology reported that it would explore potential strategic alternatives, which could include an offer for or other acquisition of the company, a merger, business combination, or other transaction. The company stated that it had engaged Lucid Capital Markets, LLC as its financial advisor in connection with this process. The announcement also described a planned reduction in workforce of approximately 90% and confirmed that the company was discontinuing all clinical development of nemvaleukin.

In a subsequent business update on August 4, 2025, Mural Oncology reported that, following the April 15 decision, it had taken steps to conserve its remaining cash. These steps included the reduction in workforce by approximately 90%, the discontinuation of clinical development of nemvaleukin alfa, and the termination of other research and development activities, including IL-18 and IL-12 programs. The company described itself in that release as continuing to explore strategic alternatives.

Acquisition by XOMA Royalty Corporation

On August 20, 2025, Mural Oncology announced that it had entered into a definitive transaction agreement with XOMA Royalty Corporation and XRA 5 Corp., a wholly owned subsidiary of XOMA Royalty. Under this agreement, XRA 5 Corp. agreed to acquire the entire issued and to be issued share capital of Mural Oncology for cash, to be implemented by an Irish High Court sanctioned scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act 2014, or, under certain circumstances, by a takeover offer. The transaction agreement and related details were also described in a Form 8-K filed on the same date.

According to the August 20, 2025 announcement and the related Form 8-K, each Mural shareholder was entitled, subject to conditions and closing, to receive a base cash price per share and a potential additional cash amount per share, calculated by reference to the company’s closing net cash as defined in the transaction agreement. The board of directors of Mural Oncology determined that the acquisition was in the best interests of shareholders and agreed to recommend that shareholders vote in favor of the scheme of arrangement and related resolutions.

On October 24, 2025, Mural Oncology reported, via press release and a Form 8-K, that its shareholders had approved the proposed acquisition by XRA 5 Corp. at both a scheme meeting and an extraordinary general meeting held in Dublin, Ireland. The company disclosed that the required resolutions were approved by a majority in number of shareholders of record present and voting, and by more than 99 percent of the votes cast at each meeting.

Subsequent announcements on December 3 and December 5, 2025 reported that the High Court of Ireland had sanctioned the scheme of arrangement and that the scheme had become effective on December 5, 2025. Mural Oncology stated that, pursuant to the scheme, XRA 5 Corp., the wholly owned subsidiary of XOMA Royalty Corporation, would acquire the entire issued and to be issued share capital of Mural Oncology. The December 5, 2025 announcement further stated that cancellation of the admission of Mural shares to trading on the Nasdaq Global Market occurred with effect from 8:00 p.m. U.S. Eastern Time on December 4, 2025.

Trading status and historical context

Based on the company’s December 5, 2025 announcement, the scheme of arrangement under which XRA 5 Corp. acquired all issued and to be issued share capital of Mural Oncology became effective on December 5, 2025, and the admission of Mural shares to trading on the Nasdaq Global Market was cancelled with effect from the evening of December 4, 2025. As a result, Mural Oncology plc and the MURA ticker are described in these announcements in a historical context, with the company having become a wholly owned subsidiary of XOMA Royalty Corporation.

Earlier disclosures under the Irish Takeover Rules, including a May 19, 2025 announcement, described Mural Oncology as a biotechnology company that was focused on using its protein engineering platform to develop cytokine-based immunotherapies for cancer. That same announcement referred to Mural Oncology in the past tense in this regard, consistent with the company’s decision to discontinue its research and development programs.

Regulatory framework and governance

Mural Oncology was subject to the Irish Takeover Panel Act 1997 and the Irish Takeover Rules 2022. Multiple company announcements explain that, following the April 15, 2025 strategic alternatives announcement, Mural was considered to be in an “offer period” under the Irish Takeover Rules. The company provided detailed summaries of disclosure obligations for persons with interests in its relevant securities, including requirements under Rules 8.3(a) and 8.3(b) of the Irish Takeover Rules.

The company’s Form 8-K filings identify Mural Oncology plc as an Irish public limited company with ordinary shares registered under Section 12(b) of the Securities Exchange Act of 1934 and listed on the Nasdaq Global Market under the symbol MURA prior to the cancellation of admission to trading described in the December 5, 2025 announcement.

Company status

According to Mural Oncology’s December 5, 2025 announcement, the scheme of arrangement under which XRA 5 Corp., a wholly owned subsidiary of XOMA Royalty Corporation, acquired the entire issued and to be issued share capital of Mural Oncology became effective on December 5, 2025. The same announcement states that the admission of Mural shares to trading on the Nasdaq Global Market was cancelled with effect from 8:00 p.m. U.S. Eastern Time on December 4, 2025. These disclosures indicate that Mural Oncology plc became a wholly owned subsidiary of XOMA Royalty Corporation and that the MURA ticker ceased trading on Nasdaq as a result of the acquisition.