Kura Oncology Inc. (NASDAQ:KURA) has announced its Q3 2020 financial results and also provided a corporate update.
The company reported a net loss of $23.8 million in the quarter compared to $16.4 million in the same period a year ago.t Kura had $32.4 million in cash and cash equivalents at the end of the quarter, which is sufficient to fund operations until 2023.
Kura to present KOMET-001 results at ASH meeting
Troy Wilson, the CEO and President of Kura Oncology, said that the company is focused on developing novel therapies for cancer patients. He said that they are encouraged with early evidence of KO-539, menin inhibitor activity in KOMET-001 phase 1/2 trial in acute myeloid leukemia patients. Wilson said that the company is looking forward to presenting updated data from the study in an oral presentation at the annual ASH meeting next month.
Recently the company presented clinical data highlighting the potential of combining tipifarnib with PI3Kα inhibitor in treating around 15% to 50% of metastatic or recurrent HRA mutant head and neck squamous cell carcinoma (HSNCC) patients. The company expects to initiate a combination trial of the targeted therapies in mid next year.
KO-539 safety and tolerability data
The initial data for KO-539 for the first-in-human study will be presented at ASH, and an abstract was posted on November 4, 2020. The abstract highlights the tolerability and safety of KO-539 and also evidence of anti-leukemia activity. The company will present a mature data set that includes data from around 10 patients on December 5, 2020, followed by an investor event that features two of the trial investigators.
Kura is focused on phase 2 dose-escalation of KO-539 in the KOMET-001 study. More clinical sites are being added to expand the cohort subject to more clinical data. The planned cohort includes KMT2A(MLL)-rearranged AML and NPM1-mutant AML in populations where KO-539 has the potential of showing increased clinical benefit. According to the company, KO-539 represents targeting genetic subsets that represent 35% or more of the total AML population.