Mural Oncology Announces Second Quarter Financial Results and Provides Business Update

Core Insights - Mural Oncology is exploring strategic alternatives to maximize shareholder value after discontinuing clinical development of its lead product candidate, nemvaleukin alfa [1][2] - The company has implemented significant cost-saving measures, including a workforce reduction of approximately 90% and the termination of its research and development activities [2] - As of June 30, 2025, Mural had approximately $77.1 million in cash and cash equivalents, with an estimated cash position of $43 to $48 million by December 31, 2025, if no transaction occurs [2][8] Financial Results - For the second quarter of 2025, Mural reported research and development expenses of $23.3 million, down from $27.5 million in the same quarter of 2024, primarily due to reduced employee-related expenses and decreased spending on the ARTISTRY-7 clinical trial [5] - General and administrative expenses increased to $8.1 million in Q2 2025 from $6.7 million in Q2 2024, driven by higher employee-related expenses and legal costs [6] - The company incurred $17.5 million in restructuring and impairment charges during Q2 2025, related to severance, impairment of lab equipment, and contract terminations [7] - Mural's net loss for the second quarter of 2025 was $48.0 million, compared to a net loss of $31.6 million in Q2 2024, largely due to restructuring and impairment charges [8] Cash Guidance - Mural estimates its cash and cash equivalents will be approximately $43 million to $48 million as of December 31, 2025, if no strategic transaction is completed by that date [2][8]