UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorporation or organization) 7683 SE 27 Street, Suite 481 Mercer I ...

Financial Performance - As of December 31, 2024, the company reported a net loss of $17.1 million, with an accumulated deficit of $182.9 million[685]. - The net loss attributable to Kineta, Inc. increased to $17.1 million for the year ended December 31, 2024, compared to a net loss of $14.1 million in 2023[714]. - The company did not generate any revenue for the year ended December 31, 2024, compared to $5.0 million in licensing revenues and $442,000 in collaboration revenues for the year ended December 31, 2023, resulting in a total revenue decrease of $5.4 million[713][715][716]. - Interest income decreased from $325,000 in 2023 to $111,000 in 2024, a decline of $214,000 due to lower balances in interest-bearing accounts[719]. - Cash used in operating activities for the year ended December 31, 2024 was $11.6 million, consisting of a net loss of $17.1 million, partially offset by noncash charges of $6.0 million[732]. - Cash used in operating activities for the year ended December 31, 2023 was $16.2 million, consisting of a net loss of $14.1 million, a change in other net operating assets and liabilities of $5.3 million, partially offset by noncash charges of $3.1 million[733]. Corporate Restructuring - The company completed a significant corporate restructuring, reducing its workforce by approximately 64% to preserve cash[673]. - The company has paused or significantly scaled back the development or commercialization of future product candidates due to insufficient funding[730]. - The company is exploring strategic alternatives, including asset sales, mergers, or liquidation, due to the need for substantial additional capital to sustain operations[722][729]. Market Opportunities - The immuno-oncology market generated sales of approximately $111 billion in 2023 and is forecast to reach $201 billion by 2028[680]. - The company is developing KVA12123, a VISTA blocking immunotherapy, with a potential market opportunity of $48 billion in 2027 for its initial target indications[681]. Funding and Cash Flow - The company has raised cash of $634,000 as of December 31, 2024, raising substantial doubt about its ability to continue as a going concern[687]. - Cash provided by financing activities was $6.3 million for the year ended December 31, 2024, primarily related to advances received from TuHURA of $5.995 million[735]. - Cash provided by financing activities for the year ended December 31, 2023 was $8.5 million, primarily related to $8.0 million in net proceeds from the Private Placement[736]. - The company has no commitments for future funding or additional capital other than the Private Placement[730]. Clinical Trials and Development - The ongoing Phase 1/2 clinical trial of KVA12123 is expected to complete enrollment by the end of the first quarter of 2025[674]. - Research and development expenses are expected to increase as the company advances its product candidates through clinical trials and seeks regulatory approvals[701]. - The company has entered into a Merger Agreement with TuHURA Biosciences, Inc., which includes a Clinical Trial Funding Agreement for up to $900,000 to fund research and development expenses[688][690]. Stock-Based Compensation - Stock-based compensation was $1.2 million for the year ended December 31, 2024, compared to $3.9 million for the year ended December 31, 2023[771]. - As of December 31, 2024, the company had $0.9 million of total unrecognized stock-based compensation related to stock options, expected to be recognized over a weighted-average period of 1.6 years[771]. - The company recognizes noncash stock-based compensation related to stock-based awards based on the fair value on the grant date using the Black-Scholes option pricing model[765]. Trading and Market Status - The company’s common stock was suspended from trading on The Nasdaq Capital Market and is now trading on the OTC Pink Market under the symbol "KANT"[694]. - As of December 31, 2024, the company had outstanding notes payable in an aggregate principal amount of $629,000 at an interest rate of 6%[737]. Other Financial Metrics - Total operating expenses decreased by $7.6 million, from $21.2 million in 2023 to $13.5 million in 2024, primarily due to a reduction in research and development expenses by 40% to $5.4 million[714][717]. - General and administrative expenses decreased by $4.0 million, or 33%, from $12.1 million in 2023 to $8.1 million in 2024, mainly due to lower personnel costs[718]. - The change in fair value of rights from Private Placement resulted in a loss of $3.8 million for the year ended December 31, 2024, compared to a gain of $1.6 million in 2023[721]. - Interest expense was a credit of $138,000 for the year ended December 31, 2024, compared to an expense of $337,000 in 2023, primarily due to previously accrued vendor invoices not required to be paid[720].

NEW YORK, Dec. 12, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating TuHURA Biosciences, Inc. (NASDAQ: HURA), relating to the proposed merger with Kineta, Inc. Under the terms of the agreement, TuHURA would acquire the rights to Kineta's novel KVA12123 antibod ...

NEW YORK, Dec. 12, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Kineta, Inc. (OTC: KANT), relating to the proposed merger with TuHURA Biosciences, Inc. Under the terms of the agreement, TuHURA would acquire the rights to Kineta's novel KVA12123 antibody f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share KANT OTC Pink Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commissio ...

TuHURA has extended their exclusivity and right of first offer pursuant to the terms of the agreement. Kineta and TuHURA are collaborating on the ongoing Phase 1/Phase 2 clinical trial in patients with advance solid tumor cancer SEATTLE, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Kineta, Inc. (OTC Pink: KANT) ("Kineta" or the "Company"), a clinical-stage biotechnology company focused on the development of novel immunotherapies in oncology that address cancer immune resistance, announced today that TuHURA Biosciences ...

Kineta will be trading under the symbol "KANT" on OTC Pink Kineta will continue to pursue strategic alternatives as previously announced TuHURA Biosciences has an exclusivity right and a right of first offer for Kineta's KVA12123 program The ongoing KVA12123 Phase 1 study is open for new patient enrollment and following those patients previously enrolled. SEATTLE, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Kineta, Inc., a clinical-stage biotechnology company focused on the development of novel immunotherapies in on ...

30 of a projected 39 patients have been enrolled in the clinical trial to date, including a monotherapy arm with KVA12123 and a combination arm utilizing KVA12123 together with Merck's anti-PD1 therapy, KEYTRUDA® (pembrolizumab) Kineta anticipates the trial to be fully enrolled by the end of 2024 TAMPA, Fla. & SAN DIEGO, August 19, 2024 /PRNewswire/ -- TuHURA Biosciences, Inc. ("TuHURA"), a Phase 3 registration-stage immune-oncology company developing novel technologies to overcome resistance to cancer immu ...

Effective immediately, clinical sites in the VISTA-101 Phase 1/ Phase 2 clinical trial can resume screening of patients for enrollment in the clinical study 30 patients have been enrolled in the clinical trial to date, including a monotherapy arm with KVA12123 and a combination arm utilizing KVA12123 together with Merck's anti-PD-1 therapy, KEYTRUDA® (pembrolizumab) Kineta anticipates the trial to be fully enrolled by the end of 2024 SEATTLE, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Kineta, Inc. (Nasdaq: KA), a cl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-37695 KINETA, INC. (Exact name of Registrant as specified in its Charter) Delaware 20-8436652 (State or other jurisdiction of inc ...