Core Viewpoint - Kura Oncology has received FDA approval for ziftomenib, marking a significant milestone for the company in its oncology portfolio [1]. Group 1: Company Overview - The conference call is led by Greg Mann, Senior Vice President of Investor Relations and Corporate Affairs at Kura Oncology [1]. - Key executives participating in the call include Dr. Troy Wilson (President and CEO), Dr. Mollie Leoni (Chief Medical Officer), and Brian Powl (Chief Commercial Officer) [2]. Group 2: FDA Approval Details - The call is focused on discussing the FDA approval of ziftomenib, with supporting materials available on the company's website [1]. - Dr. Eunice Wang, a notable expert in leukemia, is a guest speaker for the call, indicating the importance of the approval in the context of leukemia treatment [2].

Kura Oncology Conference Call Summary Company Overview - **Company**: Kura Oncology (NasdaqGS: KURA) - **Industry**: Oncology, specifically focusing on Acute Myeloid Leukemia (AML) treatments Key Points FDA Approval and Product Launch - Kura Oncology received FDA approval for its menin inhibitor, Zypto, targeting the relapse/refractory (R/R) AML population with NPM1 mutations, marking a significant milestone for the company [3][43] - The company emphasizes the importance of menin inhibitors in AML, stating they are the most significant advancement in the field in two decades [3][43] Efficacy and Safety - Kura's menin inhibitor is compared to two other approved agents for NPM1 mutant AML, noting that while both have good activity, Kura's product shows better duration of response [3][43] - Kura's Zypto has a mean QT prolongation of 7.7 milliseconds, significantly lower than the competitor's 23 milliseconds, which poses a higher risk of sudden cardiac death [4][44][45] - Zypto does not have clinically meaningful drug-drug interactions, unlike its competitor, which has a sensitive CYP3A4 interaction requiring dose adjustments [5][19][45] Market Potential - The total addressable market (TAM) for Zypto in the NPM1 relapse refractory setting is estimated at $350 to $400 million, with a patient population of 1,000 to 2,000 and an average treatment duration of six months [6][46] - Kura is conservative in its estimates, assuming a 50% market share, but anticipates potential upside as off-label usage and longer treatment durations are expected to increase [9][49] Competitive Landscape - Kura faces competition not only from other menin inhibitors but also from venetoclax, IDH inhibitors, and gilteritinib, particularly in the context of co-mutations in NPM1 mutant patients [7][47] - The company plans to present data at the upcoming ASH conference, which will include frontline combination studies with venetoclax and Zypto [7][48] Future Outlook - Kura is optimistic about the uptake of menin inhibitors in the market, attributing some of the awareness to the competitor's efforts [25] - The company is preparing for a potential first-line indication, which could significantly expand the market opportunity, estimating a peak potential of $10 billion annually across 10,000 to 12,000 patients [41][41] Clinical Trials and Data - Kura is conducting randomized trials to gather data that could support accelerated approval pathways, with top-line results expected in 2028 [27][28] - The company is focused on achieving MRD negativity in patients, which is a strong surrogate for survival and could influence treatment decisions regarding transplant options [39][40] NCCN Guidelines and Commercial Readiness - Kura is on track for NCCN guideline inclusion but acknowledges that the committee's decisions are outside their control [22][23] - The company has been ready for the product launch for two months and expects to see initial sales growth, although they anticipate that sales will not be material until after the holiday season [24][23] Additional Insights - Kura's conservative approach to revenue and enrollment is a key part of its strategy, aiming to underpromise and overdeliver [6][46] - The company is focused on educating physicians about the benefits of early combination therapy to optimize patient outcomes [8][48]

Kura Oncology Conference Call Summary Company Overview - **Company**: Kura Oncology (NasdaqGS: KURA) - **Product**: Komzifti (ziftomenib) - **Industry**: Oncology, specifically focusing on acute myeloid leukemia (AML) Key Points FDA Approval - The FDA granted full approval for Komzifti, a once-daily oral menin inhibitor for adults with relapsed or refractory NPM1-mutated AML, marking a significant milestone for Kura Oncology [4][30] - The approval was ahead of the PDUFA target action date of November 30, 2025, indicating a strong benefit-risk profile for patients [4][30] Clinical Data - Komzifti demonstrated a 21.4% complete remission (CR) plus complete remission with partial hematologic recovery (CRh) rate in a study of 112 patients [10] - The median duration of response was five months, with a median time to response of 2.7 months [10] - Patients who achieved a response had a median overall survival of 18.4 months compared to 3.5 months for non-responders [10] - Safety data indicated that Komzifti was generally well tolerated, with most adverse reactions being grade one or two [11] Treatment Implications - Komzifti is positioned as a foundational therapy for acute leukemias, with ongoing studies exploring its use in frontline therapy and combinations with other treatments [5][18] - Approximately 20% of patients are refractory to frontline treatment, and 50% of those achieving complete remission will relapse, highlighting the urgent need for effective therapies [8] Commercial Strategy - Kura has prepared for the U.S. launch of Komzifti, with a launch price set at $48,500 for a one-month supply [28] - The U.S. market for NPM1-mutated relapsed refractory AML is estimated to be between $350 million and $400 million annually, with potential for a larger opportunity in frontline AML [29] - Kura's commercial strategy focuses on driving adoption, ensuring broad access, and leveraging partnerships, particularly with Kyowa Kirin [25][26] Market Dynamics - The company anticipates that Komzifti will become the preferred option in the relapsed refractory NPM1-mutated AML setting due to its best-in-class profile and ease of use [21][22] - Kura's field teams are targeting over 4,000 healthcare providers to maximize reach and impact [25] Future Developments - Ongoing trials are evaluating Komzifti in various treatment settings, including combinations with standard chemotherapy regimens [18][19] - The company is committed to generating robust clinical data to support Komzifti's adoption and integration into treatment guidelines [19] Safety and Drug Interactions - Komzifti does not require dosage reduction when administered with strong CYP3A4 inhibitors, enhancing its compatibility with supportive therapies [12][13] - The absence of significant drug-drug interactions is a key advantage over competing therapies [13][24] Conclusion - Kura Oncology is poised to transform AML treatment with Komzifti, supported by a strong clinical profile, strategic commercial plans, and a commitment to patient care [30]

Core Insights - The FDA has granted full approval for KOMZIFTI (ziftomenib) for adult patients with relapsed or refractory acute myeloid leukemia (AML) with a susceptible NPM1 mutation, marking it as the first once-daily oral menin inhibitor approved for this indication [1][11] - The approval is based on the KOMET-001 trial, which demonstrated a complete remission rate of 21.4% and a median duration of response of 5.0 months in patients with R/R NPM1-m AML [5][6] - KOMZIFTI is positioned to address a significant unmet need in a patient population with historically poor outcomes and limited treatment options [1][4] Company Overview - Kura Oncology, in collaboration with Kyowa Kirin, is committed to advancing the development of KOMZIFTI across the treatment continuum for AML, aiming to improve patient outcomes [2][8] - The companies have established a global strategic collaboration for the development and commercialization of KOMZIFTI, with Kura leading efforts in the U.S. [8] Clinical Data - In the pivotal KOMET-001 trial, 112 patients were evaluated, with 88% of those achieving complete remission or complete remission with partial hematologic recovery within 6 months of treatment initiation [5][6] - The trial also reported a median time to first response of 2.7 months, indicating a rapid onset of efficacy [5] Safety Profile - KOMZIFTI has a favorable safety profile, with no Boxed Warning related to QTc prolongation or Torsades de Pointes, which is significant for patients on multiple concurrent medications [6][7] - The most common adverse reactions included increased liver enzymes and infections, with serious adverse reactions reported in 79% of patients [21][23] Market Potential - The approval of KOMZIFTI represents a major advancement in targeted therapies for AML, particularly for patients who are older and unable to tolerate intensive chemotherapy [6][8] - The drug's once-daily oral administration and compatibility with other medications enhance its potential to become the preferred treatment option in its approved indication [2][6] Access and Support - Kura has established a support program, Kura RxKonnect, to facilitate access and reimbursement for patients prescribed KOMZIFTI [9]

Core Insights - The U.S. Food and Drug Administration (FDA) has approved Kura Oncology's drug for treating a rare form of blood cancer that has either returned or resisted initial therapy [1] Company Summary - Kura Oncology has received FDA approval for its drug, indicating a significant milestone in its product development and potential market entry [1] Industry Summary - The approval highlights ongoing advancements in the treatment of rare blood cancers, reflecting the industry's commitment to addressing unmet medical needs [1]

Financial Data and Key Metrics Changes - Collaboration revenue from the Kyowa Kirin partnership for Q3 2025 was $20.8 million compared to no revenue in Q3 2024 [16] - Research and development expenses for Q3 2025 were $67.9 million, up from $41.7 million in Q3 2024 [16] - General and administrative expenses for Q3 2025 were $32.8 million, compared to $18.2 million in the same period of 2024 [16] - Net loss for Q3 2025 was $74.1 million, compared to a net loss of $54.4 million in Q3 2024 [16] - Pro forma cash as of September 30, 2025, was $609.7 million, down from $727.4 million as of December 31, 2024 [17] Business Line Data and Key Metrics Changes - The company is advancing its clinical pipeline, particularly with Zifduminib, a menin inhibitor for acute myeloid leukemia (AML) [3][4] - Zifduminib's clinical data from the COMET-001 study showed a favorable benefit-risk profile, with high rates of complete remission and minimal residual disease negativity [5][6] - The company is targeting enrollment at over 150 global sites for its COMET-017 frontline phase 3 trials [7] Market Data and Key Metrics Changes - The company is preparing for the anticipated commercial launch of Zifduminib, with disease awareness campaigns exceeding targets [9] - The commercial organization is fully mobilized and ready to execute upon approval, with a focus on specialty hematologists and large academic institutions [23] Company Strategy and Development Direction - The company aims to position Zifduminib as the menin inhibitor of choice for eligible patients, with a focus on addressing unmet needs beyond the relapsed refractory setting [4] - The dual pipeline strategy includes both menin inhibition and farnesyl transferase inhibitors, which are seen as strategically important for growth [12] - The company plans to submit data for Zifduminib to the NCCN guidelines shortly after FDA approval [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a successful review outcome for Zifduminib, with a PDUFA target action date of November 30, 2025 [3][18] - The company remains in a strong financial position to support its pipeline and commercialization activities, expecting significant milestone payments in the near term [14][17] - Management highlighted the importance of safety and tolerability in differentiating Zifduminib from competitors, especially in the context of the recent black box warning for Torsades [28][30] Other Important Information - The company plans to host a virtual investor and analyst event to discuss ASH presentations on December 8, 2025 [6] - The company has received two $30 million milestone payments for the COMET-017 trials, bringing total milestones received this year to $105 million [14] Q&A Session Summary Question: What account types are being targeted for Zifduminib launch? - The focus is on specialty hematologists, with a mix of large academic institutions and community oncology practices [23][24] Question: What to expect from the ASH update? - The ASH presentations will include more evaluable patients, updated MRD negativity data, and longer follow-up information [25][26] Question: How does the new label impact the NPM1 launch? - The black box warning for Torsades is significant, especially for the NPM1 population, and differentiates Zifduminib based on its favorable safety profile [30][31] Question: What market share is expected relative to competitors? - While specific market share expectations were not provided, the company anticipates capturing a majority share based on Zifduminib's best-in-class profile [39] Question: What are the dynamics with FDA regulatory engagement? - The company has not noticed any changes in cadence with the FDA and remains on track for the November 30 PDUFA date [67]

Core Viewpoint - Kura Oncology reported a quarterly loss of $0.85 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.57, marking a significant earnings surprise of -49.12% [1][2] Financial Performance - The company posted revenues of $20.75 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 75.72%, compared to zero revenues a year ago [2] - Over the last four quarters, Kura Oncology has surpassed consensus EPS estimates only once [2] Stock Performance - Kura Oncology shares have increased by approximately 12.2% since the beginning of the year, while the S&P 500 has gained 16.5% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.11 on revenues of $102.93 million, and for the current fiscal year, it is -$2.07 on revenues of $154.92 million [7] - The trend of estimate revisions for Kura Oncology was unfavorable prior to the earnings release, which may impact future stock movements [5][6] Industry Context - The Medical - Biomedical and Genetics industry, to which Kura Oncology belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable industry outlook [8]

Product Development - Kura Oncology's lead product candidate, ziftomenib, is being developed for genetically defined subsets of acute leukemias, including AML and ALL, with a collaboration agreement with Kyowa Kirin for global commercialization[81] - The KOMET-001 trial for ziftomenib in relapsed or refractory NPM1-mutated AML showed a complete remission rate of 22%, exceeding the historical benchmark of 12%[88] - The overall response rate in the KOMET-001 trial was 33%, with a median duration of overall response of 4.6 months[88] - Ziftomenib received Breakthrough Therapy Designation from the FDA in April 2024, and a new drug application was submitted on March 31, 2025, with a PDUFA target action date of November 30, 2025[87] - The KOMET-007 trial is evaluating ziftomenib in combination with standard therapies for newly diagnosed AML, with preliminary data expected to be presented at the American Society for Hematology Annual Meeting in December 2025[95] - The KOMET-017 trials are assessing ziftomenib in combination with intensive and non-intensive chemotherapy regimens for newly diagnosed NPM1-mutated AML, with topline results anticipated in 2028[98][99] - Kura Oncology is also exploring ziftomenib in combination with imatinib for gastrointestinal stromal tumors, with the KOMET-015 trial currently ongoing[102] - Darlifarnib, a next-generation farnesyl transferase inhibitor, is being evaluated in a Phase 1 trial for safety and preliminary antitumor activity[104] - The combination of tipifarnib and alpelisib showed an ORR of 47% in heavily pretreated HNSCC patients[109] - The company anticipates presenting preliminary clinical data from the combination of darlifarnib and adagrasib in 2026[107] - The company expects to initiate Phase 1b expansion cohorts of darlifarnib and cabozantinib in advanced RCC in the first half of 2026[108] Financial Performance - Collaboration revenue for the three months ended September 30, 2025, was $20.8 million, with $20.3 million from the Kyowa License Agreement[129] - Research and development expenses increased by $26.2 million to $67.9 million for the three months ended September 30, 2025, compared to $41.7 million in the same period of 2024[128] - As of September 30, 2025, the company had cash, cash equivalents, and short-term investments totaling $549.7 million[111] - The company received an upfront payment of $330 million under the Kyowa License Agreement and achieved $75 million in development milestone payments as of September 30, 2025[112] - Collaboration revenue for the nine months ended September 30, 2025, was $50.1 million, with $49.6 million from the Kyowa License Agreement[135] - Research and development expenses for the nine months ended September 30, 2025, totaled $186.7 million, an increase of $69.0 million compared to $117.7 million in 2024[136] - Ziftomenib-related costs increased to $107.9 million for the nine months ended September 30, 2025, up from $52.3 million in 2024, reflecting a change of $55.5 million[136] - The accumulated deficit as of September 30, 2025, was $1.1 billion, indicating ongoing operating losses since inception[144] - Net cash used in operating activities for the nine months ended September 30, 2025, was $181.3 million, an increase of $46.5 million from $134.8 million in 2024[149] - The company has milestone payment obligations of up to approximately $78.8 million contingent upon achieving certain regulatory and commercial milestones under in-license agreements[155] Strategic Partnerships and Agreements - Kura Oncology plans to advance its product candidates through internal development and strategic partnerships while maintaining significant development and commercial rights[85] - The company received an upfront payment of $330.0 million under the Kyowa License Agreement and is eligible for up to $933.0 million in additional milestone payments[139] - Under the Kyowa License Agreement, the company will share equally (50/50) with Kyowa Kirin all development costs for activities planned to be conducted prior to the end of 2028[156] Cash and Investments - As of September 30, 2025, the company had cash, cash equivalents, and short-term investments of $549.7 million, expected to fund operations into 2027[145] - The company has borrowed $10.0 million under a loan agreement with a maturity date of November 2, 2027, with an end of term fee of approximately $1.5 million[142] - Net cash provided by investing activities for the nine months ended September 30, 2025, was $51.5 million, a significant increase from a net cash used of $6.6 million in 2024[150] Operational Risks and Considerations - The company has not generated any revenues from product sales and relies on equity and debt financings for operations[115] - The company expects general and administrative expenses to rise in future periods to support increased research and development and pre-commercial activities[133] - The company does not believe that a 10.0% change in interest rates would have a material effect on the fair value of its investment portfolio as of September 30, 2025[159] - The company is exposed to interest expense fluctuations through Term Loans, which bear interest at a rate that could be affected by changes in the prime rate[160] - Inflation has not had a material effect on the company's business, financial condition, or results of operations during the periods presented[161]

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Financial Performance - Kura Oncology reported collaboration revenue of $20.8 million for Q3 2025, compared to no revenue in Q3 2024[9] - Research and development expenses for Q3 2025 were $67.9 million, up from $41.7 million in Q3 2024, representing a 62.8% increase[9] - General and administrative expenses for Q3 2025 were $32.8 million, compared to $18.2 million in Q3 2024, reflecting an increase of 80.5%[9] - The net loss for Q3 2025 was $74.1 million, compared to a net loss of $54.4 million in Q3 2024, indicating a 36.3% increase in losses[9] Clinical Trials and Research - The company initiated the pivotal KOMET-017 Phase 3 trials for ziftomenib in frontline AML, which will evaluate its effectiveness in over 50% of AML patients[4] - Kura plans to present preliminary clinical data at the ASH Annual Meeting in December 2025, focusing on ziftomenib in combination with venetoclax/azacitidine[9] - The objective response rate (ORR) for darlifarnib in combination with cabozantinib was reported at 33-50% in ccRCC patients[5] Funding and Financial Outlook - Kura had pro forma cash, cash equivalents, and short-term investments of $609.7 million as of September 30, 2025, which is expected to support the ziftomenib AML program through topline results in KOMET-017[4] - Kura received two milestone payments of $30 million each from Kyowa Kirin in connection with the KOMET-017 trial[6] - The company anticipates sufficient funding to support operations into 2027, bolstered by collaboration agreements and current cash reserves[13]