Kintara (KTRA) Stock Soars on Merger Agreement With TuHURA

Zacks04-04

Kintara Therapeutics, Inc.’s KTRA shares surged 63.4% on Apr 3 after the company inked a definitive merger agreement with Florida-based privately-held company, TuHURA Biosciences Inc. Per the ...

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Per the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/kintara-ktra-stock-soars-merger-143800928.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999014542.SGD","symbol_name":"United Income Focus Trust Acc SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/kintara-ktra-stock-soars-merger-143800928.html","article_id":"2425310589","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/H9DYdttPy00EKBHhcxtlCA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/9f2a2e04a053cda7a8c096e532e43d28"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2425310589","pubTimestamp":1712241480,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Kintara Therapeutics, Inc.’s KTRA shares surged 63.4% on Apr 3 after the company inked a definitive merger agreement with Florida-based privately-held company, TuHURA Biosciences Inc. 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Per the agreement, KTRA will merge into TuHURA to form a new company aimed at developing late-stage oncology candidates.\nThe combined company will operate under the name of TuHURA Biosciences, Inc., and trade in the Nasdaq stock exchange under the ticker symbol \"HURA.\"\nThe transaction has been approved by the boards of directors of both companies and is expected to close in the third quarter of 2024, subject to customary closing conditions.\nPer the agreement, Kintara equity holders are expected to collectively own up to approximately 2.85%, or 5.45%, including shares underlying the contingent value rights (CVR) of the common stock of the combined company on a pro forma fully diluted basis. Meanwhile, equity holders of TuHURA are eligible to collectively own approximately 97.15%, or 94.55%, taking the distribution of the CVR shares, of the common stock of the combined company on a pro forma fully diluted basis after the merger is completed.\nThe newly formed company will focus on advancing TuHURA's personalized cancer vaccine and first-in-class bi-functional antibody-drug conjugates (ADCs) to overcome the hurdles in the treatment of cancer with existing immunotherapies.\nADCs are being considered a disruptive innovation in the pharmaceutical industry as these will allow better treatment of cancer by harnessing the targeting power of antibodies to deliver cytotoxic molecule drugs to tumors.\nShares of Kintara have lost 3.3% year to date against the industry’s growth of 1.9%.\nImage Source: Zacks Investment Research\nKTRA is developing its lead pipeline candidate, REM-001, a second-generation photodynamic therapy photosensitizer agent for the treatment of cutaneous metastatic breast cancer.\nMeanwhile, TuHURA is developing its lead personalized cancer vaccine candidate, IFx-2.0, to overcome primary resistance to checkpoint inhibitors.\nTuHURA is planning to initiate a phase III registration study evaluating IFx-2.0 administered as an adjunctive therapy to Merck’s MRK blockbuster cancer drug, Keytruda (pembrolizumab), for the first-line treatment of advanced merkel cell carcinoma.\nMerck’s biggest revenue generator, Keytruda, is approved for treating several cancer indications. Sales of Keytruda came in around $25 billion in 2023.\nMRK continues to evaluate Keytruda in combination studies for various other indications.\nEnrollment in the placebo-controlled phase III study is expected to begin in the second half of 2024. The study is likely to be conducted under the FDA's Accelerated Approval Pathway, which helps in earlier approval of drugs that address serious and unmet medical conditions.\nAlong with the latest merger agreement, TuHURA is making $31 million subscribed financing, which is expected to fund the combined company’s operations through late 2025.\nThe transaction should create a near and long-term value for Kintara’s shareholders as the newly formed company will be well-positioned to develop groundbreaking new therapies for treating cancer.\nZacks Rank & Stocks to Consider\nKintara currently carries a Zacks Rank #4 (Sell).\nSome better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals Incorporated LGND and ANI Pharmaceuticals, Inc. ANIP, each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.\nIn the past 60 days, estimates for Ligand’s 2024 earnings per share have improved from $4.42 to $4.56. Year to date, LGND shares have gained 4.5%.\nEarnings of LGND beat estimates in each of the trailing four quarters, the average surprise being 84.81%.\nIn the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share have improved from $4.06 to $4.43. Year to date, ANIP shares have jumped 21.7%.\nEarnings of ANIP beat estimates in each of the trailing four quarters, the average surprise being 109.06%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nMerck & Co., Inc. (MRK) : Free Stock Analysis Report\nLigand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report\nANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report\nKintara Therapeutics, Inc. (KTRA) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2425310589"}