Kura Oncology leaps after CEO buys more stock
BUZZ-Kura Oncology leaps after CEO buys more stock ** Kura Oncology's KURA.O shares up 7.4% to $13.32, highest since Nov 2024, in early Tues trade after its CEO discloses additional stock purchase
** CEO Troy Wilson bought 100,000 shares at weighted avg price of $12.39 worth about $1.2 mln on Mon, according to a regulatory filing
** On Aug 17, Wilson disclosed purchase of 100,000 shares at weighted avg price of $11.12, per an SEC filing
** Wilson now owns 435,456 shares directly in KURA and holds 779,194 shares in two trust accounts
** Insider buying is often viewed as a signal of confidence in a firm's business prospects; transactions represent a significant investment by its top executive
** San Diego, California-based KURA has ~88.96 mln shares outstanding for ~$1.1 bln market cap
** On Aug 12, co reported smaller-than-expected Q2 loss and generated $9.1 mln in net product rev, on sales of its blood cancer drug Komzifti
** KURA stock now up ~49% in Aug, putting it up ~30% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))