Kura Oncology reports Q4 EPS (55c), consensus (55c)

As of December 31 Kura had cash, cash equivalents and short-term investments of $424.M , compared to $438M as of December 31…Pro forma for $146M approximate net proceeds from the company’s private placement completed in January 2024, Kura had $570M in cash, cash equivalents and short-term investments at December 31… Based on its operating plan, management expects that cash, cash equivalents and short-term investments will fund current operations into 2027. “Given its best-in-class safety and efficacy profile as well as optimal pharmaceutical properties, we believe ziftomenib is well positioned to become a cornerstone of therapy for patients with acute leukemias,” said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. “This belief is supported by strong enthusiasm among both physicians and patients, as evidenced by rapid enrollment across our ongoing ziftomenib studies. We continue to be encouraged by the rate of enrollment in KOMET-001, our Phase 2 registration-directed trial of ziftomenib in patients with relapsed/refractory NPM1-mutant AML, and we remain on pace to complete enrollment of all 85 patients in the trial by the middle of this year. We also are seeing robust enrollment in our ongoing KOMET-007 study, which is investigating ziftomenib in combination with current standards of care in the frontline and relapsed/refractory settings. And with our recent financing, we remain in a strong financial position, which enables us to invest aggressively in research, development and pre-commercial activities to maximize the value of ziftomenib and support our other pipeline assets.”