In April, ziftomenib became the first investigational therapy to be granted Breakthrough Therapy Designation for treatment of relapsed/refractory NPM1-mutant AML.
— Troy Wilson
03Detailed Report
KURA
Company KURA
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 28, 2026
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Executive Summary
Kura Oncology reported a Q2 2024 operating loss with no reported revenue, consistent with a clinical-stage biotechnology company advancing a broad menin inhibitor program. Key near-term catalysts include topline data from KOMET-001 in NPM1-mutant relapsed/refractory AML slated for early 2025 and continued enrollment expansion in KOMET-007, with over 100 patients dosed across dose cohorts and genotypes, including progression toward 600 mg expansion arms. The company also advanced non-AML programs, including GIST (IND clearance for ziftomenib + imatinib) and preclinical data supporting diabetes indications with a next-generation candidate slated for nomination in early 2025. Importantly, Kura entered 2024 with a substantial liquidity position ($491.5 million in cash, cash equivalents, and short-term investments) and guided that this buffer is sufficient to fund the operating plan into 2027, providing substantial runway for multiple phase 2/early phase 3 readouts and pivotal planning alongside ongoing collaborations (e.g., KO-2806 and tipifarnib programs). While the near-term financials reflect a typical pre-commercial burn (R&D of $39.7M and G&A of $16.7M in Q2 2024), investors should weigh the magnitude of upcoming data readouts, regulatory interactions, and the potential addressable markets across AML subtypes, GIST, and diabetes against execution risk and the evolving competitive landscape in menin inhibitors and combination therapies.
Key Performance Indicators
Operating Income
Decreasing
-56.40M
QoQ: -3.58% | YoY: -41.00%
Net Income
Decreasing
-50.84M
QoQ: -2.65% | YoY: -36.75%
EPS
Decreasing
-0.59
QoQ: 0.00% | YoY: -11.32%
Revenue Trend
Margin Analysis
Financial Highlights
Financial highlights for Q2 2024 (USD millions, unless noted):
- Revenue: 0 (null)
- Gross profit: -0.202; gross profit margin: N/A
- R&D expenses: 39.727; YoY change approx +40.9% (from 28.2 in Q2 2023)
- General and administrative expenses: 16.677; YoY change approx +41.5% (from 11.8 in Q2 2023)
- Selling, general and administrative expenses: -0.202; not material in total
- Operating expenses: 56.202; cost and expenses: 56.404 (aggregate)
- Interest expense: 0.406
- Depreciation and amortization: 0.202
- EBITDA: -50.229
- Operating income: -56.404
- Total other income/expenses: 5.567 (net positive impact)
- Income before tax: -50.837
- Net income: -50.837
- Earnings per share (diluted): -0.59
- Weighted average shares outstanding: 86.635 million
- Cash, cash equivalents and short-term investments: 491.519 million (as of 2024-06-30)
- Cash at end of period: 45.183 million
- Net cash provided by/used in operating activities: -42.53 million
- Free cash flow: -42.546 million
- Purchases of investments: -161.673 million; sales maturities of investments: 204.856 million
- Balance sheet (as of period-end): total assets 515.116 million; total liabilities 49.046 million; total stockholders’ equity 466.07 million; long-term debt 14.419 million; short-term debt 2.314 million; net debt (-) 28.45 million (net cash position)
- Liquidity/coverage: current ratio 14.94; cash ratio 1.351; debt-to-capitalization 0.0347; enterprise value multiple and price-to-book values indicate positive market sentiment relative to book value
Income Statement
Metric
Value
YoY Change
QoQ Change
Gross Profit
-202.00K
5.16%
13.68%
Operating Income
-56.40M
-41.00%
-3.58%
Net Income
-50.84M
-36.75%
-2.65%
EPS
-0.59
-11.32%
0.00%
Key Financial Ratios
Return on Assets
Weak
-0.10%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.11%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
14.94
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.04
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-9.03x
Negative earnings make P/E ratio not meaningful
Price to Book
Premium
3.94x
Trading at premium to book value, reflects strong intangibles or growth
Management Insights Available for Members
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