KURA Stock Rises Pre-Market After Receiving Milestone Payment Related To Cancer Drug Development Agreement

• The payment was in connection with the dosing of the first patient in a late-stage registrational trial of Ziftomenib.
• Kura Oncology and Kyowa Kirin had entered into a deal in November 2024 to jointly develop and commercialize Ziftomenib.
   

Kura Oncology (KURA) said on Friday that it received a $30 million milestone payment under its collaboration agreement with Japan-based Kyowa Kirin, inked late last year.

The payment was in connection with the dosing of the first patient in a late-stage registrational program of Ziftomenib evaluating the drug in combination with both intensive and non-intensive chemotherapy regimens in patients with newly diagnosed acute myeloid leukemia with certain conditions. The companies announced the launch of the said trial on September 29.

The program includes two late-stage trials intended to support potential U.S. accelerated approval and full approval. The trial is expected to enroll patients at up to 200 sites worldwide.

According to Kura, the late-stage program is the only menin inhibitor program actively pursuing registrational trials across both intensive and non-intensive chemotherapy settings.

Terms Of The Deal

Kura Oncology and Kyowa Kirin had entered into a deal in November 2024 to jointly develop and commercialize Ziftomenib. Under the agreement, Kura is eligible to receive up to $1.2 billion in total milestone payments, including near-term milestone payments.  

As per the terms of the agreement, Kura will lead development, regulatory, and commercial strategy in the U.S. while Kyowa leads it outside the U.S.

KURA shares traded 6% higher in the pre-market session at the time of writing. On Stocktwits, retail sentiment around KURA stock stayed within the ‘bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.

KURA stock is up by over 4% this year but down by about 49% over the past 12 months.

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