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Sep 30, 2024
Kura Oncology Q3 2024 Earnings Report
Kura Oncology reported third quarter 2024 financial results and provided a corporate update.
Key Takeaways
Kura Oncology reported a net loss of $54.4 million for the third quarter of 2024, compared to a net loss of $38.6 million for the third quarter of 2023. As of September 30, 2024, Kura had cash, cash equivalents and short-term investments of $455.3 million, which is expected to fund operations into 2027.
Topline results from registration-directed trial of ziftomenib in R/R NPM1-mutant AML expected in early 2025.
Data from Phase 1a dose-escalation study of ziftomenib combined with ven/aza in R/R AML and 7+3 in 1L adverse risk AML to be presented at ASH.
Phase 1b expansion study of ziftomenib in combination with standards of care now enrolling at 600 mg in all cohorts.
First patient dosed in study of KO-2806 and adagrasib in KRASG12C-mutated NSCLC.
Forward Guidance
Kura Oncology provided several forecasted milestones, including presenting updated data from the KOMET-007 trial of ziftomenib in combination with ven/aza and 7+3 at ASH in December 2024, and reporting topline results from the KOMET-001 registration-directed trial of ziftomenib in NPM1-mutant R/R AML in early 2025.
Positive Outlook
- Present updated data from the KOMET-007 trial of ziftomenib in combination with ven/aza and 7+3 at ASH in December 2024.
- Report topline results from the KOMET-001 registration-directed trial of ziftomenib in NPM1-mutant R/R AML in early 2025.
- Present preliminary data from the Phase 1b expansion portion of KOMET-007 at a medical meeting in 2025.
- Initiate proof-of-concept study evaluating ziftomenib and imatinib in patients with advanced GIST in the first half of 2025.
- Nominate a next generation menin inhibitor development candidate targeting diabetes in the first half of 2025.
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