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On Wednesday, Citizens JMP analysts reaffirmed their Market Outperform rating for Kura Oncology (NASDAQ:KURA) stock, maintaining a price target of $28, well above the current price of $6.42. According to InvestingPro data, analyst targets range from $8 to $40, with a strong consensus recommendation of 1.47 (where 1.0 is a Strong Buy). This decision follows the presentation of key findings from the KOMET-001 trial at the American Society of Clinical Oncology (ASCO) meeting.
The trial evaluated ziftomenib (zifto) as a treatment for relapsed or refractory NPM1-mutated acute myeloid leukemia (r/r NPM1-m AML). Results showed a 23% complete response/complete response with partial hematologic recovery (CR/CRh) rate, a median duration of response (mDOR) of 3.7 months, and a 63% minimal residual disease (MRD) negative rate, aligning with expectations. The stock has shown strong momentum, gaining 15.68% in the past week.
In addition to the trial results, Kura Oncology announced that the U.S. Food and Drug Administration (FDA) accepted the New Drug Application (NDA) for zifto in r/r NPM1-m AML and granted it priority review status. The Prescription Drug User Fee Act (PDUFA) date is set for November 30, 2025. InvestingPro analysis shows the company maintains a healthy financial position with a current ratio of 8.07, indicating strong liquidity to fund operations through the approval process.
With zifto on track for potential approval in the fourth quarter of 2025, Kura Oncology plans to initiate fully funded frontline trials in the second half of 2025. The company has a pro forma cash position of $703.2 million, bolstering its financial standing. Get access to 10+ additional InvestingPro Tips and comprehensive financial analysis for Kura Oncology through the detailed Pro Research Report, available exclusively on InvestingPro.
Kura Oncology’s developments indicate promising progress in its treatment pipeline, as the company continues to focus on advancing its clinical programs and securing regulatory approvals.
In other recent news, Kura Oncology announced positive results from the Phase 2 KOMET-001 trial, evaluating ziftomenib for treating relapsed or refractory NPM1-mutant acute myeloid leukemia (AML). The study reported a complete remission rate of 23% among participants, with a favorable safety profile and limited adverse events. The U.S. Food and Drug Administration (FDA) has accepted the New Drug Application for ziftomenib and granted it priority review, with a target action date set for November 30, 2025. Analysts from Leerink Partners, Cantor Fitzgerald, and H.C. Wainwright have all reiterated positive ratings for Kura Oncology, reflecting confidence in the company’s strategic direction and potential market impact. Cantor Fitzgerald highlighted the competitive positioning of ziftomenib against other treatments, noting its safety advantages. Additionally, Kura Oncology is preparing to present updated data from the KOMET-007 study at the European Hematology Association Congress. These developments underscore Kura Oncology’s commitment to advancing its oncology pipeline and addressing unmet needs in AML treatment.
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