Kura Oncology(KURA)2024-05-02 20:10Financial Performance - Kura Oncology reported a net loss of 34.1 million in Q1 2023, reflecting an increase in operating expenses [15]. - Research and development expenses for Q1 2024 were 25.2 million in Q1 2023, while general and administrative expenses rose to 11.4 million [8]. - As of March 31, 2024, Kura had cash, cash equivalents, and short-term investments totaling 424 million as of December 31, 2023 [17]. - The company expects its cash reserves to fund operations into 2027 based on its current operating plan [8]. Clinical Trials and Developments - The company is on track to complete enrollment of 85 patients in the KOMET-001 trial of ziftomenib for NPM1-mutant R/R AML by mid-2024 [4]. - Ziftomenib has received Breakthrough Therapy Designation from the FDA for the treatment of relapsed/refractory NPM1-mutant AML, based on data from the ongoing KOMET-001 trial [3]. - In the Phase 1 trial, ziftomenib demonstrated a 35% complete response rate and a 45% overall response rate in heavily pretreated patients with NPM1-mutant AML [4]. - Preliminary data from the KOMET-007 trial showed a 100% complete remission rate in newly diagnosed patients treated with ziftomenib in combination with standard therapies [4]. - Kura plans to initiate a Phase 1b expansion study of ziftomenib in combination with standards of care in the second half of 2024 [8]. - Kura is also advancing KO-2806, with the first patient dosed in a trial for renal cell carcinoma, and plans to dose the first patient in combination with adagrasib for KRASG12C-mutated non-small cell lung cancer by mid-2024 [5].