On Thursday, Stifel reaffirmed a Buy rating and a $28.00 price target for Kura Oncology (NASDAQ:KURA), a biopharmaceutical company focused on the development of precision medicines for the treatment of cancer. The firm's position comes in anticipation of significant updates from the company regarding its drug ziftomenib, particularly in combination therapies.
Kura Oncology is expected to provide a substantial update during the American Society of Hematology (ASH) meeting in December, rather than at the European Hematology Association (EHA) meeting in June. The ASH update is set to include comprehensive data from the full dose escalation of ziftomenib up to 600mg. Additionally, durability data for early patient cohorts is anticipated to evolve throughout the year and into 2025.
The company has indicated it will initiate pivotal trials for first-line acute myeloid leukemia (AML) before completing the phase 1b expansion cohorts of ziftomenib combinations. Kura Oncology has identified a randomized ZiftoVenAza study as the quickest route to market, potentially leveraging interim complete response rates for Accelerated Approval.
Kura's management has expressed confidence in the first-line trials, citing the strong monotherapy data in patients who have progressed beyond first-line standard treatments. The safety profile and combinability of ziftomenib are considered to be factors reducing the risk associated with these trials.
In a separate development, Kura Oncology has revisited the potential application of its Menin inhibitor in treating diabetes. Preclinical data expected to be released in the second half of 2024 will demonstrate the compound's ability to induce insulin production and restore insulin sensitivity in type 2 diabetes (T2D) models.
InvestingPro Insights
As Kura Oncology (NASDAQ:KURA) garners attention with its upcoming clinical updates and Stifel's reaffirmed Buy rating, InvestingPro data and insights offer additional context for investors. With a market cap of $1.63 billion and a strong price uptick over the last six months, showing a 140.15% return, Kura's financial health is noteworthy. The company holds more cash than debt, suggesting a solid balance sheet, and has liquid assets that exceed short-term obligations, aligning with a strategy for enduring potential market fluctuations.
InvestingPro Tips indicate that Kura does not pay a dividend, which could be relevant for income-focused investors. Additionally, analysts have revised their earnings expectations downwards for the upcoming period, highlighting potential concerns about profitability. Despite this, the company has exhibited a high return over the last year, with a 61.88% price total return, indicating strong investor confidence which may be tied to the promising developments in its drug pipeline.
For those seeking a deeper dive into Kura Oncology's financials and future prospects, InvestingPro offers over 10 additional tips. To access these insights and more, investors can visit InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with comprehensive data and analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.