Core Viewpoint - Kintara Therapeutics has approved a reverse stock split at a ratio of 1-for-35, which will take effect on October 17, 2024, coinciding with the merger with TuHURA Biosciences, Inc. The company will trade under the new name TuHURA Biosciences, Inc. with the symbol "HURA" [1][4]. Summary by Sections Reverse Stock Split - The reverse stock split was approved by Kintara's stockholders on October 4, 2024, with a final ratio of 1-for-35 determined by the Board [2]. - This action will reduce the number of outstanding shares from approximately 55.6 million to about 1.6 million shares, while the par value remains at $0.001 per share [3]. - The reverse stock split will not change the authorized number of shares and will uniformly affect all stockholders, with no fractional shares issued [3]. Merger with TuHURA Biosciences - Following the merger, the combined company's total outstanding common stock is expected to be approximately 42.0 million shares [4]. - TuHURA Biosciences is focused on developing novel immuno-oncology therapies, including a personalized cancer vaccine candidate, IFx-2.0, which is set to enter a Phase 3 trial [5][6]. Company Background - Kintara Therapeutics is dedicated to developing novel cancer therapies, particularly for patients with unmet medical needs, with its lead program being REM-001 Therapy for cutaneous metastatic breast cancer [7][8]. - The company has a proprietary photodynamic therapy platform that has shown an 80% clinical efficacy in previous trials for its lead therapy [8].
Kintara Therapeutics Announces 1-for-35 Reverse Stock Split in Connection with the Proposed Merger with TuHURA Biosciences