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SAN DIEGO - Kura Oncology, Inc. (NASDAQ:KURA), a clinical-stage biopharmaceutical company with a market capitalization of $575 million, has announced that its abstract containing preclinical data on KO-2806 has been accepted for oral presentation at the American Association for Cancer Research (AACR) Annual Meeting. According to InvestingPro analysis, the company appears undervalued at current levels, with analysts setting price targets ranging from $10 to $40 per share. The presentation, scheduled for April 28, 2025, will detail findings on the use of KO-2806, a farnesyl transferase inhibitor, in combination with cabozantinib, a tyrosine kinase inhibitor, for the treatment of clear cell renal cell carcinoma (ccRCC).
Dr. Francis Burrows, Chief Scientific Officer at Kura Oncology, stated that the data underscore the potential of farnesyl transferase inhibitors to enhance the efficacy of targeted therapies and combat resistance. The company is also progressing with its Phase 1 FIT-001 trial, assessing KO-2806 in solid tumor indications, including as a monotherapy and in combination with cabozantinib for RCC treatment. Results from this trial are expected to be presented in the second half of 2025. InvestingPro data shows the company maintains a strong financial position with a healthy current ratio of 9.46 and more cash than debt on its balance sheet, providing runway for its development programs.
Kura Oncology’s pipeline includes several small molecule drug candidates aimed at cancer signaling pathways. Among these, ziftomenib, an oral menin inhibitor, has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for relapsed/refractory NPM1-mutant acute myeloid leukemia (AML). The company has completed enrollment in a Phase 2 trial for ziftomenib and anticipates a New Drug Application submission in the second quarter of 2025 following a collaboration agreement with Kyowa Kirin Co., Ltd.
The company’s efforts extend to evaluating ziftomenib in combination with standard care for new and relapsed/refractory NPM1-mutant and KMT2A-rearranged AML, alongside its evaluation of KO-2806. Additionally, Kura is conducting a Phase 1/2 trial of tipifarnib, another farnesyl transferase inhibitor, in combination with alpelisib for PIK3CA-dependent head and neck squamous cell carcinoma (HNSCC).
This news is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. These include the potential for preclinical findings to differ in later studies, the risk of regulatory approval delays, and other risks inherent in drug development and commercialization. While analysts anticipate sales growth in the current year, InvestingPro data indicates the company is not expected to be profitable this year. For deeper insights into Kura Oncology’s financial health, growth prospects, and detailed analysis, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. For more information, refer to Kura Oncology’s filings with the Securities and Exchange Commission.
In other recent news, Kura Oncology Inc. reported a notable performance for the fourth quarter of 2024, surpassing earnings expectations with an earnings per share (EPS) of -$0.22, compared to the forecasted -$0.57. The company also recorded significant collaboration revenue of $53.9 million, a substantial increase from the previous year. Kura Oncology is preparing to submit a New Drug Application for its AML treatment, ziptomenib, in the second quarter of 2025. Notably, the company is also set to initiate the COMET-fifteen trial, which combines ziptomenib with imatinib for GIST treatment, in the first half of 2025. In terms of analyst actions, there was no specific mention of upgrades or downgrades in the recent developments. Kura Oncology’s strategic focus on expanding its collaboration revenue and managing expenses effectively has been highlighted as a key factor in its recent performance. The company continues to invest heavily in research and development, with expenses rising to $52.3 million from $32.5 million in the previous year. These recent developments reflect Kura Oncology’s ongoing efforts to expand its presence in the oncology market.
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