H.C. Wainwright Reiterates Buy Rating on Kura Oncology (KURA)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $32.00 price target on Kura Oncology (NASDAQ: KURA).

The analyst commented: "On Friday, Syndax Pharmaceuticals announced the FDA approval of Revuforj (revumenib), as a first-in-class menin inhibitor to treat adult and pediatric r/r AML patients (≥ one year old) with KMT2A rearrangements (KMT2Ar). We believe this is a major breakthrough for these patients, which account for approximately 10% of AML cases, and together with NPM1-m patients (~30% of AML), represent defined molecular and genetic subgroups in need of novel therapeutic approaches. Recall, both revumenib and ziftomenib are currently under clinical evaluation in registration-directed Phase 2 clinical trials in NPM1-m r/r AML patients. While revumenib has met consistent efficacy expectations across NPM1-m and KMT2Ar AML patients, we still think that initial ziftomenib results (n=20) point toward similar efficacy but improved tolerability in the NPM1-m population vs. revumenib, which finalized the AUGMENT-101 study dealing with both DS and QTc prolongations (see summary of AUGMENT-101 and preliminary KOMET-001 results below). Enrollment in KOMET-001 has been completed (n=85), and results are anticipated in 1Q25. We are excited to learn that Revuforj can pave the way for upcoming novel menin inhibitors targeting these difficult-to-treat r/r AML populations, and we look forward to learning about the parallel development of both assets in NPM1-m patients. Reiterate Buy rating and $32 PT."

For an analyst ratings summary and ratings history on Kura Oncology click here. For more ratings news on Kura Oncology click here.

Shares of Kura Oncology closed at $15.92 yesterday.

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