Core Viewpoint - TuHURA Biosciences, Inc. has announced a definitive agreement for a registered direct offering to raise capital through the sale of common stock and warrants, aimed at funding working capital and addressing a bridge note obligation [1][4]. Group 1: Offering Details - The company will sell a total of 9,462,423 shares of common stock at a price of $1.65 per share, along with Series A and Series B warrants for the same number of shares [1]. - The offering will occur in three tranches: the first closing on or about December 10, 2025, the second by January 30, 2026, and the third by February 27, 2026 [3]. - The gross proceeds from the first closing are expected to be approximately $8.6 million, $5 million from the second closing, and $2 million from the third closing, before deducting fees and expenses [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for working capital, to satisfy a $3.4 million bridge note obligation, and for general corporate purposes [4]. - The bridge note obligation carries an interest rate of 3% per month and requires repayment by December 31, 2025, or within 30 days after a successful equity financing exceeding $12 million [4]. Group 3: Company Overview - TuHURA Biosciences, Inc. is focused on developing novel therapeutics to overcome resistance to cancer immunotherapy, particularly in advanced or metastatic Merkel Cell Carcinoma [7][8]. - The company’s lead product, IFx-2.0, is currently in a Phase 3 trial as an adjunctive therapy to Keytruda® [8]. - TuHURA has also acquired TBS-2025, which is moving into Phase 2 development for a specific type of leukemia, and is developing innovative antibody drug conjugates targeting immune-suppressing cells in the tumor microenvironment [9].
TuHURA Biosciences, Inc. Announces $15.6 Million Registered Direct Offering