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TuHURA Biosciences, Inc. (the "Company"), a biotechnology firm with a market capitalization of $116.19 million and currently rated as having weak financial health according to InvestingPro metrics, has disclosed the approval of increased annual base salaries for two key executives, effective as of June 6, 2025. The Compensation Committee of the Board of Directors sanctioned the salary raise for James A. Bianco, M.D., Chief Executive Officer, to $577,101, and for Dan Dearborn, Chief Financial Officer, to $384,453. These compensation adjustments come as the company’s stock has declined nearly 58% over the past year, though InvestingPro data shows the company maintains a healthy current ratio of 3.0, indicating strong short-term liquidity.
The decision was informed by compensation trends and practices within the Company’s peer group, which consists of comparable firms as identified by the Committee and an independent consultant. The adjustment places both executives’ base salaries at approximately 90% of the 50th percentile for the peer group.
Additionally, the Company has provided a revised Summary Compensation Table that includes the actual value of the 2024 annual incentive bonus awards for the Named Executive Officers. The bonuses, approved by the Committee on June 6, 2025, were omitted from the initial Summary Compensation Table in the Proxy Statement filed on February 7, 2024, as part of the Registration Statement on Form S-4.
The revised Summary Compensation Table reflects the earned annual incentive bonuses, stock and option awards, and other compensations for fiscal years 2024 and 2023. The disclosed figures include a discretionary annual incentive bonus for fiscal 2024, which was paid in 2025, and the aggregate grant date fair value of stock options awarded during 2024 and 2023.
Furthermore, the report notes the amendment to the employment agreement with Robert Hoffman, the Company’s former President, Chief Executive Officer, and Interim Chief Financial Officer, prior to the completion of the reverse merger transaction with Kintara Therapeutics, Inc. Hoffman’s employment was terminated on October 18, 2024, following the merger, and he was appointed to the Board. Analysts maintain mixed views on the company’s future, with price targets ranging from $9.25 to $15 per share. Get access to 12 more exclusive InvestingPro tips and comprehensive financial analysis to better understand the company’s outlook.
This financial information is based on the latest 8-K filing by TuHURA Biosciences, Inc. with the Securities and Exchange Commission.
In other recent news, TuHURA Biosciences Inc. announced the U.S. Food and Drug Administration (FDA) lifted a partial clinical hold on its Phase 3 trial for IFx-2.0, a potential adjunctive therapy for advanced and metastatic Merkel cell carcinoma (MCC). This development allows the trial to proceed under a Special Protocol Assessment (SPA) agreement and is set to enroll 118 patients across 22 to 25 U.S. sites. The trial’s primary endpoint is the Overall Response Rate (ORR), with key secondary endpoints including Progression Free Survival (PFS). Additionally, TuHURA Biosciences secured $15.5 million in funding through a private placement and warrant exercises to support its cancer treatment pipeline, including the Phase 3 trial for IFx-2.0 and a Phase 2 trial for a novel VISTA-inhibiting antibody. The company is also preparing for a Phase 1b/2a clinical trial for IFx-Hu2.0, targeting metastatic MCC without skin lesions. In a strategic move, TuHURA appointed Bertrand Le Bourdonnec, PhD, as Executive Vice President, Head of Drug Discovery (NASDAQ:WBD), Early Development, and Program Management, to strengthen its drug development efforts. The company is also planning a merger with Kineta, Inc., which aims to expand TuHURA’s portfolio and advance Kineta’s VISTA-101 program into a Phase 2 trial. These developments underscore TuHURA’s commitment to advancing its immuno-oncology therapies and addressing resistance to cancer treatments.
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