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Mar 31, 2024
Kura Oncology Q1 2024 Earnings Report
Kura Oncology reported its financial results for Q1 2024 and provided a corporate update.
Key Takeaways
Kura Oncology reported a net loss of $49.5 million for the first quarter of 2024, compared to a net loss of $34.1 million for the same period in 2023. The company's cash, cash equivalents, and short-term investments totaled $527 million as of March 31, 2024, which is expected to fund operations into 2027.
Ziftomenib received Breakthrough Therapy Designation for NPM1-mutant AML.
Registration-directed trial of ziftomenib in NPM1-mutant AML is on track to complete enrollment by mid-2024.
Positive preliminary combination data reported for ziftomenib in NPM1-mutant and KMT2A-rearranged AML.
First patient dosed with KO-2806 and cabozantinib in renal cell carcinoma.
Forward Guidance
Kura Oncology provided updates on expected milestones for their clinical trials, including completing enrollment for ziftomenib and identifying recommended doses for various combinations. They also plan to submit an IND application for ziftomenib in solid tumors and present data from the KURRENT-HN trial.
Positive Outlook
- Complete enrollment of 85 patients in the KOMET-001 registration-directed trial of ziftomenib in NPM1-mutant R/R AML by mid-2024.
- Identify the recommended Phase 2 dose of ziftomenib in combination with venetoclax and azacitidine by mid-2024.
- Identify the recommended Phase 2 dose of ziftomenib in combination with 7+3 by mid-2024.
- Initiate Phase 1b expansion study of ziftomenib in combination with standards of care, including venetoclax/azacitidine in newly diagnosed NPM1-mutant or KMT2A-rearranged AML, in the second half of 2024.
- Submit an investigational new drug application for ziftomenib in a solid tumor indication and present preclinical data at a medical meeting in the second half of 2024.
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