Kintara And TuHURA Merge To Advance Cancer Therapy Pipeline By | Old North State Wealth News
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Kintara and TuHURA merge to advance cancer therapy pipeline By



SAN DIEGO and TAMPA, Fla. – Kintara Therapeutics, Inc. (NASDAQ: KTRA) and TuHURA Biosciences, Inc. have announced a definitive merger agreement to create a company that will specialize in late-stage oncology treatments. The all-stock transaction is set to close in the third quarter of 2024, with the merged entity operating under the name TuHURA Biosciences, Inc. and trading on the Nasdaq Capital Market under the ticker “HURA”.

The merger aims to leverage both companies’ technologies to develop therapies that address resistance to current cancer immunotherapies. TuHURA’s IFx-2.0, a personalized cancer vaccine, is preparing to enter a Phase 3 trial in the second half of 2024 as an adjunctive therapy with Keytruda® for advanced Merkel cell carcinoma. This trial is anticipated to be under the FDA’s Accelerated Approval Pathway.

Additionally, TuHURA is developing bi-functional Antibody Drug Conjugates (ADCs) targeting Myeloid Derived Suppressor Cells (MDSCs) to modulate their immunosuppressive effects on the tumor microenvironment. These ADCs are designed to prevent T cell exhaustion and acquired resistance to immunotherapies.

The merger is supported by a $31 million subscribed financing by TuHURA, which is expected to fund operations and development programs into late 2025. Post-merger, Kintara equityholders will own up to approximately 2.85% of the common stock of the combined company on a pro forma fully diluted basis, with TuHURA equityholders owning approximately 97.15%.

The combined company will be headquartered in Tampa, Florida, with Dr. James Bianco serving as President and CEO, and Dan Dearborn as CFO. The board of directors will consist of five members, with four designated by TuHURA and one by Kintara.

The information in this article is based on a press release statement.

InvestingPro Insights

As Kintara Therapeutics, Inc. (NASDAQ: KTRA) prepares to merge with TuHURA Biosciences, Inc., investors are closely monitoring the company’s financial health and market performance. According to InvestingPro data, Kintara’s market capitalization stands at a modest $3.92 million. This relatively small market cap reflects the company’s current position within the highly competitive biotech industry.

InvestingPro Tips for KTRA indicate a significant return over the last week, with a 12.18% price total return, signaling a short-term uptick in investor confidence. Despite this recent gain, analysts at InvestingPro do not expect the company to be profitable this year, aligning with the reported basic and diluted EPS (Continuing Operations) for the last twelve months as of Q2 2024, which stands at -$4.57. Additionally, the company’s short-term obligations exceed its liquid assets, which may present financial challenges as it moves forward with the merger and development of new therapies.

While the upcoming merger holds potential for growth and innovation in oncology treatments, Kintara has experienced a notable price decline over the past year, with a 97.44% drop in its one-year price total return. This performance history suggests that investors should approach the stock with caution, considering both its recent gains and longer-term challenges.

For readers looking to delve deeper into Kintara’s financials and future outlook, InvestingPro offers additional insights and metrics. There are 11 more InvestingPro Tips available for Kintara, which can be accessed at To enhance your investment analysis, use coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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