Kura Oncology reports Q3 EPS (50c), consensus (55c)

As of September 30 Kura had cash, cash equivalents and short-term investments of $452.6M compared to $438.M as of December 31, 2022. ..”I am proud of our team’s considerable progress, as we continue to execute across all three of our wholly owned, clinical-stage programs,” said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. “We believe our lead drug candidate, ziftomenib, is well positioned for market leadership, with multibillion dollar global revenue potential in acute leukemias and beyond. Our conviction is supported by a growing body of clinical data as a monotherapy and, increasingly, in combination with standards of care. We continue to be encouraged by the rapid pace of enrollment in our KOMET-001 registration-directed trial in NPM1-mutant acute myeloid leukemia , as well as in our KOMET-007 combination trial. We look forward to sharing preliminary combination data in NPM1-mutant and KMT2A-rearranged AML early next quarter.” “Meanwhile,” continued Dr. Wilson, “we continue to unlock the substantial therapeutic and commercial value of farnesyl transferase inhibition. We believe the positive results from our AIM-HN registration-directed trial of tipifarnib and the favorable safety and tolerability profile of tipifarnib in combination with alpelisib in our ongoing KURRENT-HN trial significantly de-risk development of our next-generation farnesyl transferase inhibitor , KO-2806. We are pleased to be in the clinic with KO-2806 and look forward to evaluating it in combination with other targeted therapies, including adagrasib in KRASG12C-mutated non-small cell lung cancer and cabozantinib in clear cell renal cell carcinoma . If successful, we believe KO-2806 could become an ideal combination partner for multiple targeted therapies in large solid tumor indications.”