Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Kura Oncology, Inc. (NASDAQ:KURA) announced Friday that it has received a $30 million milestone payment from Kyowa Kirin, Inc. and Kyowa Kirin Co., Ltd. The payment follows the dosing of the first patient in the KOMET-017 Phase 3 registrational trials of ziftomenib, an investigational oral menin inhibitor. The company, currently valued at approximately $790 million, maintains a strong financial position with more cash than debt and a healthy current ratio of 6.16x.
The KOMET-017 trials, launched on September 29, are global, randomized, double-blind, placebo-controlled Phase 3 studies. They are designed to evaluate ziftomenib in combination with both intensive and non-intensive chemotherapy regimens for patients with newly diagnosed NPM1-mutated or KMT2A-rearranged acute myeloid leukemia.
The milestone payment is part of a collaboration and license agreement between Kura Oncology and Kyowa Kirin. According to the company, the KOMET-017 program consists of two independent trials and is being conducted to assess the safety and efficacy of ziftomenib in these patient populations.
This information is based on a statement included in a Securities and Exchange Commission filing by Kura Oncology.
In other recent news, Kura Oncology announced it received a $30 million milestone payment from Kyowa Kirin. This payment was triggered by the dosing of the first patient in its Phase 3 clinical program for ziftomenib, advancing the treatment into late-stage development for acute myeloid leukemia. Additionally, Kura Oncology presented promising data at the European Society for Medical Oncology Congress, showcasing the potential of its drug darlifarnib as a combination therapy. The clinical data indicated that darlifarnib, when combined with the multi-kinase inhibitor cabozantinib, showed objective response rates of 33%-50% in renal cell carcinoma patients. Analyst firm H.C. Wainwright reiterated a Buy rating with a $40 price target, emphasizing the enhanced antitumor activity of Kura’s farnesyl transferase inhibitor candidates in solid tumor patients. Citizens also maintained a Market Outperform rating with a $24 price target, highlighting the significance of Kura’s recent clinical presentations. These developments underscore the ongoing progress and interest in Kura Oncology’s research and potential treatments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.