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Kathleen Ford (NYSE:F), the Chief Operating Officer of Kura Oncology, Inc. (NASDAQ:KURA), a clinical-stage biopharmaceutical company with a market capitalization of $608 million, recently executed a stock sale, according to a filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has declined over 62% in the past six months, though analysis suggests the shares are currently undervalued. On January 28, Ford sold 1,817 shares of Kura Oncology’s common stock at a price of $7.8719 per share, totaling approximately $14,303. Following this transaction, Ford holds 21,367 shares of the company. The sale was conducted to cover taxes associated with the vesting of a restricted stock unit received in January 2022. InvestingPro analysis reveals that while the company is quickly burning through cash, it maintains a strong balance sheet with more cash than debt and liquid assets exceeding short-term obligations. Subscribers can access 8 additional ProTips and a comprehensive Pro Research Report for deeper insights into KURA’s financial health.
In other recent news, Kura Oncology has seen a flurry of activity. The company has secured a lease for a new headquarters in San Diego, California, with HCP Life Science REIT, Inc. The premises, spanning approximately 32,512 square feet, will house Kura’s principal executive offices, research and development facilities, and laboratories. The lease agreement spans seven years and eight months with an option for a five-year extension.
On the personnel front, Kura Oncology announced the departure of its Chief Medical (TASE:PMCN) Officer, Stephen Dale. The company has appointed Mollie Leoni as the new Chief Medical Officer and Francis Burrows as the new Chief Scientific Officer. These executive changes come with a settlement agreement for Dr. Dale, which includes an 18-month base salary continuation and the payment of his 2024 annual cash bonus.
Kura Oncology has also expanded its stock option plan, reserving an additional 1.9 million shares, indicating an intent to attract top talent and expand its workforce. This strategic move aims to attract top talent by offering a competitive equity compensation package.
The company has also entered a strategic partnership with Kyowa Kirin, which includes a $330 million upfront payment and potential for up to $1.2 billion in total milestone payments. This alliance is expected to fund and speed up the development of ziftomenib, a promising treatment for acute myeloid leukemia (AML).
In terms of analyst coverage, Stifel reduced its price target for Kura Oncology to $11.00 from $18.00 while maintaining a Hold rating. Jefferies also maintained a Buy rating but reduced the stock’s price target from $32.00 to $28.00. Meanwhile, H.C. Wainwright reaffirmed a Buy rating and raised the target price to $37.00.
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