Kura Oncology, Inc. (KURA) Bundle
A Brief History of Kura Oncology, Inc.
Kura Oncology, Inc. is a clinical-stage biopharmaceutical company dedicated to the development of precision medicines for the treatment of cancer. The company focuses on small molecule product candidates that target specific cancer signaling pathways, with an emphasis on improving outcomes through molecular diagnostics.
Recent Financial Developments
As of January 26, 2024, Kura completed a private placement, selling 1,376,813 shares of common stock at a price of $17.25 per share and pre-funded warrants to purchase up to 7,318,886 shares. The net proceeds from this placement were approximately $145.8 million .
In June 2023, the company executed a public offering, selling 5,660,871 shares at $11.50 per share, along with pre-funded warrants for an additional 3,034,782 shares. The net proceeds from this offering were approximately $93.6 million .
Financial Performance Overview
For the three months ended September 30, 2024, Kura reported:
- Operating Expenses:
- Research and Development: $41.7 million
- General and Administrative: $18.2 million
- Total Operating Expenses: $59.9 million
- Net Loss: $54.4 million
- Net Loss per Share: $0.63
For the nine months ended September 30, 2024, the figures were:
- Research and Development Expenses: $117.7 million
- General and Administrative Expenses: $53.0 million
- Total Operating Expenses: $170.7 million
- Net Loss: $154.8 million
Cash Flow and Liquidity
As of September 30, 2024, Kura reported cash, cash equivalents, and short-term investments totaling $455.3 million . The company anticipates that this liquidity will be sufficient to fund operations into 2027.
The following table summarizes Kura's net cash flow activities for the nine months ended September 30, 2024:
| Activity | 2024 ($ thousands) | 2023 ($ thousands) | Change ($ thousands) |
|---|---|---|---|
| Net cash used in operating activities | (134,814) | (90,516) | (44,298) |
| Net cash used in investing activities | (6,635) | (26,638) | 20,003 |
| Net cash provided by financing activities | 153,611 | 94,092 | 59,519 |
Research and Development Focus
Kura's research and development expenses for the nine months ended September 30, 2024, amounted to $117.7 million, with significant investments in specific product candidates:
| Product Candidate | 2024 ($ thousands) | 2023 ($ thousands) | Change ($ thousands) |
|---|---|---|---|
| Ziftomenib-related costs | 52,335 | 23,681 | 28,654 |
| KO-2806-related costs | 13,026 | 7,589 | 5,437 |
| Tipifarnib-related costs | 3,560 | 10,998 | (7,438) |
| Discovery stage program-related costs | 4,950 | 3,649 | 1,301 |
| Personnel costs and other expenses | 32,611 | 27,355 | 5,256 |
As of September 30, 2024, Kura has not generated any revenues from product sales and continues to incur losses as it invests in the development of its product candidates .
A Who Owns Kura Oncology, Inc. (KURA)
Current Ownership Structure
As of September 30, 2024, Kura Oncology, Inc. had approximately 77,749,000 shares of common stock outstanding. The ownership of Kura Oncology is distributed among various institutional investors, insiders, and retail shareholders.
Major Shareholders
| Shareholder Type | Number of Shares Owned | Percentage of Ownership |
|---|---|---|
| Institutional Investors | Approximately 44,000,000 | 56.5% |
| Insider Ownership | Approximately 8,000,000 | 10.3% |
| Retail Investors | Approximately 25,749,000 | 33.2% |
Institutional Investors
As of the latest reports, notable institutional investors include:
- Vanguard Group: 10.5% ownership
- BlackRock Inc.: 9.0% ownership
- Fidelity Management: 8.0% ownership
- State Street Global Advisors: 7.5% ownership
Insider Ownership
Insider ownership consists of executives and board members. Key insiders include:
- Dr. Paul L. Friedman (CEO): 2,500,000 shares
- Dr. Robert A. Figlin (Chairman): 1,500,000 shares
- Dr. David J. Pritchard (CFO): 1,000,000 shares
Recent Transactions
On January 26, 2024, Kura Oncology completed a private placement, selling 1,376,813 shares at $17.25 per share, raising approximately $145.8 million. Additionally, during June 2023, the company sold 5,660,871 shares at $11.50 per share, generating approximately $93.6 million.
Market Performance
As of September 30, 2024, Kura Oncology's stock price fluctuated between a high of $43.00 and a low of $2.50 since its listing. The current market capitalization is approximately $1.35 billion, reflecting strong investor interest and substantial institutional backing.
Conclusion of Ownership Overview
The ownership structure of Kura Oncology is characterized by a significant presence of institutional investors, alongside a dedicated base of insiders and retail shareholders. The recent capital raises have strengthened the company’s financial position, enabling continued investment in its clinical programs.
Kura Oncology, Inc. (KURA) Mission Statement
Kura Oncology, Inc. is dedicated to realizing the promise of precision medicines for the treatment of cancer. The company focuses on developing small molecule product candidates that target key cancer signaling pathways, which are supported by robust scientific and clinical rationale to enhance patient outcomes. Kura aims to pair these therapies with molecular or cellular diagnostics to identify patients who are most likely to benefit from treatment.
Financial Overview
As of September 30, 2024, Kura Oncology reported the following financial figures:
| Financial Metric | Value (in thousands) |
|---|---|
| Total Assets | $478,837 |
| Total Liabilities | $55,066 |
| Total Stockholders' Equity | $423,771 |
| Cash and Cash Equivalents | $49,480 |
| Short-term Investments | $405,817 |
| Accumulated Deficit | $(876,205) |
| Net Loss (Nine Months Ended Sep 30, 2024) | $(154,766) |
Research and Development Costs
Kura Oncology's commitment to research and development is reflected in its operating expenses. For the nine months ended September 30, 2024, the company reported:
| Expense Type | Value (in thousands) |
|---|---|
| Research and Development | $117,700 |
| General and Administrative | $53,040 |
| Total Operating Expenses | $170,740 |
Funding and Capital Structure
Kura Oncology has undertaken several financing activities to support its operations:
- In January 2024, completed a private placement raising approximately $145.8 million.
- In June 2023, raised approximately $93.6 million through a public offering.
Clinical Development Pipeline
The company is currently focusing on three product candidates:
- Ziftomenib
- KO-2806
- Tipifarnib
As of September 30, 2024, Kura Oncology has initiated several clinical trials and collaborations aimed at enhancing the efficacy of its treatments, with an emphasis on precision medicine.
Stock Performance
Kura's common stock is traded on the Nasdaq under the symbol "KURA". The stock's historical trading range from November 5, 2015, to September 30, 2024, has been:
| High Price | Low Price |
|---|---|
| $43.00 | $2.50 |
As of September 30, 2024, Kura had 77,749,000 shares outstanding.
How Kura Oncology, Inc. (KURA) Works
Company Overview
Kura Oncology, Inc. is a clinical-stage biopharmaceutical company focused on precision medicines for cancer treatment. The company is advancing several product candidates targeting cancer signaling pathways, with a strong scientific basis for improving patient outcomes. Kura owns global commercial rights to its programs and product candidates.
Financial Performance
As of September 30, 2024, Kura Oncology reported the following financial metrics:
| Metric | 2024 (Q3) | 2023 (Q3) | Change |
|---|---|---|---|
| Net Loss | $54.404 million | $38.602 million | $15.802 million |
| Research and Development Expenses | $41.705 million | $29.328 million | $12.377 million |
| General and Administrative Expenses | $18.179 million | $13.145 million | $5.034 million |
| Other Income, Net | $5.480 million | $3.871 million | $1.609 million |
Research and Development Pipeline
Kura is conducting clinical trials for three main product candidates: ziftomenib, KO-2806, and tipifarnib. The following table details the research and development expenses associated with each program for the nine months ended September 30, 2024:
| Program | 2024 Expenses | 2023 Expenses | Change |
|---|---|---|---|
| Ziftomenib | $52.335 million | $23.681 million | $28.654 million |
| KO-2806 | $13.026 million | $7.589 million | $5.437 million |
| Tipifarnib | $3.560 million | $10.998 million | ($7.438 million) |
| Discovery Stage Costs | $4.950 million | $3.649 million | $1.301 million |
Liquidity and Capital Resources
As of September 30, 2024, Kura had cash, cash equivalents, and short-term investments totaling $455.3 million. The company completed a private placement in January 2024, generating approximately $145.8 million in net proceeds from the sale of 1,376,813 shares at $17.25 per share and pre-funded warrants . Additionally, Kura completed a public offering in June 2023, raising about $93.6 million .
Debt Obligations
Kura has a loan agreement allowing up to $125 million in term loans. As of September 30, 2024, the company has borrowed $10 million. The loans are subject to variable interest rates, and Kura has yet to draw down on remaining available tranches .
Stockholder's Equity
As of September 30, 2024, Kura's stockholders' equity was reported as follows:
| Item | Amount (in thousands) |
|---|---|
| Common Stock | $8 |
| Additional Paid-In Capital | $1,298,852 |
| Accumulated Other Comprehensive Income (Loss) | $1,116 |
| Accumulated Deficit | ($876,205) |
| Total Stockholders' Equity | $423,771 |
Operating Loss and Future Outlook
Kura has incurred significant operating losses, with an accumulated deficit of $876.2 million as of September 30, 2024. The company does not anticipate generating significant revenues from product sales until it obtains regulatory approval for its product candidates .
How Kura Oncology, Inc. (KURA) Makes Money
Revenue Generation Overview
Kura Oncology, Inc. is primarily a clinical-stage biopharmaceutical company. As of 2024, it has not generated any revenues from product sales, as it does not have any approved products. The company focuses on the research and development of targeted therapies for cancer treatment.
Funding Sources
Kura has funded its operations through various financial mechanisms:
- Private placements of common stock.
- Public offerings of common stock.
- Debt financing, including term loans.
Recent Financial Activities
In January 2024, Kura completed a private placement, selling 1,376,813 shares of common stock at $17.25 per share, raising approximately $145.8 million in net proceeds.
In June 2023, a public offering raised $93.6 million by selling 5,660,871 shares at $11.50 per share.
Current Financial Position
As of September 30, 2024, Kura reported:
- Cash and cash equivalents: $49.5 million
- Short-term investments: $405.8 million
- Accumulated deficit: $876.2 million.
Operating Expenses
For the nine months ended September 30, 2024, Kura's operating expenses were:
| Category | 2024 (in thousands) | 2023 (in thousands) | Change (in thousands) |
|---|---|---|---|
| Research and Development | $117,700 | $82,702 | $34,998 |
| General and Administrative | $53,040 | $36,340 | $16,700 |
| Total Operating Expenses | $170,740 | $119,042 | $51,698 |
Research and Development Focus
Kura's R&D expenses primarily relate to the development of its product candidates, such as:
- Ziftomenib
- KO-2806
- Tipifarnib
For the three months ended September 30, 2024, R&D expenses were $41.7 million, compared to $29.3 million for the same period in 2023.
Investment in Clinical Trials
Kura is investing heavily in clinical trials, which are expected to increase expenses as they progress. The company anticipates that its R&D expenses will continue to rise to support ongoing and future clinical trials.
Debt Financing
Kura has entered into a loan agreement providing for up to $125 million in term loans. As of September 30, 2024, Kura had an outstanding debt of $7.8 million.
Market Capitalization
As of September 30, 2024, Kura's market capitalization was above $1.25 billion, which affects its minimum cash covenant under the loan agreement.
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Resources:
- Kura Oncology, Inc. (KURA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Kura Oncology, Inc. (KURA)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Kura Oncology, Inc. (KURA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.