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Kura Oncology Reports First Quarter 2020 Financial Results
– Enhanced focus on tipifarnib in HRAS mutant HNSCC and KO-539 menin inhibitor in NPM1-mutant and KMT2A(MLL)-rearranged AML – – Three abstracts accepted for
About this update from Kura Oncology, Inc.
[{"type":"text","content":"– Enhanced focus on tipifarnib in HRAS mutant HNSCC and KO-539 menin inhibitor in NPM1-mutant and KMT2A(MLL)-rearranged AML –\n – Three abstracts accepted for presentation at ASCO, including mature data from Phase 2 study of tipifarnib in HRAS mutant HNSCC – – $216.9 million in cash, cash equivalents and investments provide strong cash position and operational leverage through potential value inflection points – – Management to host webcast and conference call today at 4:30 p.m. ET – SAN DIEGO, May 04, 2020 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today reported first quarter 2020 financial results and provided a corporate update. “We recently completed a strategic review of our portfolio with the goal of prioritizing programs that have the highest potential to create value,” said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. “As a result, we intend to enhance our focus on two major pillars of the company: our farnesyl transferase inhibitor, tipifarnib, for HRAS-dependent head and neck squamous cell carcinoma (HNSCC), including HRAS mutant and HRAS overexpressed HNSCC, as well as our menin inhibitor, KO-539, for NPM1-mutant and KMT2A(MLL)-rearranged acute myeloid leukemia (AML). This sharpened focus will enhance our efforts around each of these important programs and help to ensure that we are in a strong cash position as we navigate the challenges of the COVID-19 pandemic and continue to advance toward potential value inflection points.” Corporate Update Prioritized development of menin inhibitor, KO-539 – KO-539 is a potent and selective small molecule inhibitor of the menin-KMT2A(MLL) protein-protein interaction with the potential to target approximately 35% of all AML. A Phase 1/2A clinical trial of KO-539 in relapsed/refractory AML, named KOMET-001, continues in dose escalation. Based on its encouraging progress in the clinic and its potential to create significant value, Kura has prioritized the development of KO-539 in NPM1-mutant and KMT2A/MLL-rearranged AML. Three tipifarnib abstracts accepted for presentation at ASCO – Three abstracts highlighting data from tipifarnib in HRAS mutant solid tumors have been accepted for presentation, including...