Core Viewpoint - Kintara Therapeutics, Inc. has announced a reverse stock split of its common stock at a ratio of 1-for-35, effective October 18, 2024, following its merger with TuHURA Biosciences, Inc. [1][2] Company Overview - Kintara Therapeutics is focused on developing new solid tumor cancer therapies and is headquartered in San Diego, California [7][9] - The company is dedicated to addressing unmet medical needs in cancer treatment, with its lead program being REM-001 Therapy for cutaneous metastatic breast cancer (CMBC) [7][8] Reverse Stock Split Details - The reverse stock split will reduce the number of Kintara's outstanding common shares from approximately 55.6 million to about 1.6 million [3] - The par value of Kintara's common stock will remain unchanged at $0.001 per share, and the authorized number of shares will not change [3] - The reverse stock split will apply uniformly to all stockholders, with adjustments made for any fractional shares [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 a Phase 3 registration-stage immuno-oncology company developing technologies to overcome resistance to cancer immunotherapy [5] - TuHURA's lead candidate, IFx-2.0, aims to enhance the effectiveness of checkpoint inhibitors in treating advanced Merkel Cell Carcinoma [5][6]
Kintara Therapeutics Announces Correction to Prior Announcement Regarding 1-for-35 Reverse Stock Split in Connection with the Proposed Merger with TuHURA Biosciences to Close on October 18, 2024