Kura Oncology (KURA) PT Raised to $45 at H.C. Wainwright After ASH Presentation

H.C. Wainwright analyst Joseph Pantginis raised the price target on Kura Oncology (NASDAQ: KURA) to $45.00 (from $40.00) after an oral presentation at ASH offered the first important look at preliminary Phase 1/2a data with KO-539 in r/r AML patients from the ongoing KOMET study that offered a few key takeaways:

1) first-in-man data show important efficacy signals (below) in a highly advance population; some patients were progressing so rapidly they could not make it to Cycle 2

2) positive view into efficacy into unexpected mutations, which suggest broader potential for the drug

3) KO-539 "settles the debate" according to a KOL comment with regard to its targeting efficacy of NPM1

4) efficacy signals were observed well below predicted ranges, which management attributes to better PK and exposure in humans vs. animal studies

5) there appears to be no impact on efficacy with concomitant use of CYP3A4 inhibitors

The analyst maintained a Buy rating, stating "KOMET-001 is a Phase 1/2a dose escalation study with planned expansion cohorts in specific mutated populations. Executing on the KO-539 Phase 1/2 KOMET-001 study in r/r AML is a priority for the company. Our conversations with investors point to increasing interest around this program, and believe that the ASH data this weekend should further catalyze this."

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