UPDATE: Kura Oncology (KURA) Tops Q1 EPS by 1c; Expands Enrollment in Phase 2 Trial of Tipifarnib

(Updated - August 10, 2016 5:08 PM EDT)

Kura Oncology (NASDAQ: KURA) reported Q1 EPS of ($0.36), $0.01 better than the analyst estimate of ($0.37).

In the company’s Phase 2 trial of tipifarnib in HRAS mutant solid tumors, positive clinical activity, including objective responses, has been observed in patients with head and neck squamous cell carcinomas and patients with salivary gland cancer. Based on these responses, enrollment will be expanded to an additional seven patients.

“We are encouraged by the promising activity observed in patients with HRAS mutant solid tumors that supports the potential use of tipifarnib as a single agent to inhibit HRAS-mediated activation of the MAPK pathway to produce therapeutic responses,” said Troy Wilson, Ph.D., J.D., President and CEO of Kura Oncology. “There are currently no approved treatments that specifically target HRAS mutations, and the activity we have seen in patients with HRAS mutant head and neck squamous cell carcinomas is particularly exciting. I am pleased with Kura’s progress to date in 2016 and look forward to providing additional updates on our ongoing activities as the year continues to unfold.”

For earnings history and earnings-related data on Kura Oncology (KURA) click here.

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