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Hasnain Faheem, a director at Kura Oncology, Inc. (NASDAQ:KURA), recently executed a series of stock transactions according to a Form 4 filing with the Securities and Exchange Commission. The biotechnology company, currently valued at $613 million, has seen its stock recover with a 7.5% gain over the past week, though it remains significantly below its 52-week high of $23.48. On March 21, Faheem acquired 22,682 shares of Kura Oncology common stock at a price of $6.32 per share. Following this acquisition, he sold the same number of shares at a weighted average price of $8.00 per share, resulting in a total sale value of $181,456.
The sale was conducted under a Rule 10b5-1 trading plan, which Faheem adopted on June 20, 2024. After these transactions, Faheem holds 23,983 shares of Kura Oncology directly.
In other recent news, Kura Oncology reported a stronger-than-expected earnings performance for the fourth quarter of 2024. The company posted an earnings per share (EPS) of -$0.22, outperforming the forecast of -$0.57. Kura Oncology’s collaboration revenue surged to $53.9 million, a significant increase from the previous year when it recorded no such revenue. This improvement contributed to a reduced net loss of $19.2 million, down from $42.8 million a year earlier. The company is also preparing to submit a New Drug Application (NDA) for its AML treatment, ziptomenib, in the second quarter of 2025. Additionally, Kura Oncology is set to initiate the COMET-fifteen trial, combining ziptomenib with imatinib for GIST treatment, in the first half of 2025. Looking ahead, the company plans to expand its presence in the oncology market by exploring new therapeutic indications.
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