KURA Stock Rises Pre-Market After Receiving Milestone Payment Related To Cancer Drug Development Agreement
Synopsis
- The payment was in connection with the dosing of the first patient in a late-stage registrational trial of Ziftomenib.
- Kura Oncology and Kyowa Kirin had entered into a deal in November 2024 to jointly develop and commercialize Ziftomenib.
Kura Oncology (KURA) said on Friday that it received a $30 million milestone payment under its collaboration agreement with Japan-based Kyowa Kirin, inked late last year.
The payment was in connection with the dosing of the first patient in a late-stage registrational trial of Ziftomenib evaluating the drug in combination with both intensive and non-intensive chemotherapy regimens in patients with newly diagnosed acute myeloid leukemia with certain conditions.
Terms Of The Deal
Kura Oncology and Kyowa Kirin had entered into a deal in November 2024 to jointly develop and commercialize Ziftomenib. Under the agreement, Kura is eligible to receive up to $1.2 billion in total milestone payments.
KURA shares traded 7% higher in the pre-market session at the time of writing.
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