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Kura Oncology Reports Third Quarter 2022 Financial Results
– Abstract reporting updated data from KOMET-001 accepted for oral presentation at ASH – – First demonstration of durable clinical response with tipifarnib
About this update from Kura Oncology, Inc.
[{"type":"text","content":"– Abstract reporting updated data from KOMET-001 accepted for oral presentation at ASH – – First demonstration of durable clinical response with tipifarnib plus alpelisib in HNSCC – – AIM-HN trial of tipifarnib in HRAS mutant HNSCC closed to further enrollment – – $25 million equity investment from Bristol Myers Squibb and $125 million term loan facility from Hercules Capital – – $428 million in cash plus equity investment and term loan facility, if fully drawn, provide runway into 2026 – – Management to host webcast and conference call today at 8:00 a.m. ET – SAN DIEGO, Nov. 03, 2022 (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 third quarter 2022 financial results and provided a corporate update. “We are very proud to announce that our abstract reporting updated data from the KOMET-001 trial of ziftomenib has been accepted for oral presentation at the upcoming American Society of Hematology (ASH) Annual Meeting in December,” said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. “We continue to have strong conviction in ziftomenib and its potential to be a best-in-class menin inhibitor. Our confidence is supported by a growing body of clinical data, and we look forward to sharing a comprehensive update on the program at ASH.” “Earlier this morning, we also announced a $25 million equity investment from Bristol Myers Squibb and a $125 million term loan facility from Hercules Capital,” Dr. Wilson continued. “If the term loan facility is fully drawn, proceeds from these two transactions, together with our existing cash, are expected to fund our current operating plan into 2026, enabling us to advance ziftomenib as well as our farnesyl transferase inhibitor programs through important, clinical-stage inflection points that we believe will create meaningful value for patients and shareholders.” Recent Highlights Updated data from KOMET-001 accepted for oral presentation at ASH – An abstract reporting updated data from the KOMET-001 trial of ziftomenib has been accepted for oral presentation at the ASH Annual Meeting on December 10, 2022. The abstract, which will be published on the ASH website later today, highlights the encouraging safety profile a...