Kura’s tipifarnib EMSO update ‘an overall win,’ says BofA

BofA analyst Jason Zemansky notes that this past Saturday Kura Oncology presented data from AIM-HN, its open-label, pivotal trial of tipifarnib in head and neck cancers and thinks the update was “positive and supportive on both clinical/ regulatory fronts.” While the firm calls the tipifarnib EMSO update “an overall win,” the analyst sees little impact to near-term sentiment given “acute investor focus” on Kura’s menin inhibitor ziftomenib. The firm, which sees additional potential upside longer-term from other indications together with a “bullish outlook on ziftomenib,” maintains a Buy rating and $31 price target on Kura shares.