Earnings ·
Kura Oncology reports Q3 net loss of $70.2M, raises $55M from Oberland Capital
KURAKura Oncology, Inc.
Kura Oncology reported a third-quarter net loss of $70.2 million against revenue of $22.8 million, driven by $13.9 million in KOMZIFTI product sales and $8.9 million in collaboration income. The company closed a strategic financing agreement with Oberland Capital, receiving an initial $55 million comprising $50 million in debt and $5 million in equity, with up to $275 million of additional term loans available. Management also announced the appointment of Jennifer Fulk as Chief Financial Officer and provided updates on darlifarnib FDA alignment for salivary gland cancer. Kura Oncology is a biopharmaceutical company focused on precision medicines for cancer.