Kura Oncology reports Q4 EPS (49c), consensus (57c)

Cash, cash equivalents and short-term investments totaled $438M as of December 31 including the $25M equity investment from Bristol Myers Squibb and a one-time $10M draw from a term loan facility with Hercules Capital, compared with $518M as of December 31. Based on its operating plan, management expects that cash, cash equivalents and short-term investments will fund current operations into the fourth quarter of 2025.."We continue to have strong conviction in ziftomenib and its potential to be the best-in-class menin inhibitor," said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. "The speed with which we have begun enrolling patients with NPM1-mutant acute myeloid leukemia in our registration-directed trial speaks to our impressive Phase 1 data in this population as well as the significant interest in ziftomenib among investigators. In addition, we believe ziftomenib is well positioned for future combination strategies, with no evidence of drug-induced QTc prolongation, no predicted adverse drug-drug interactions and oral daily dosing that should enable convenient administration with standards of care. We continue to prioritize investment in the program and look forward to sharing further updates as the year progresses, including the presentation of a more mature dataset from our Phase 1 trial of ziftomenib in NPM1-mutant AML patients at a medical meeting in mid-2023."