Kura Oncology Q2 product revenue rises 57% on KOMZIFTI uptake
Kura Oncology Q2 product revenue rises 57% on KOMZIFTI uptake
Overview
U.S. cancer drugmaker's Q2 net product revenue rose 57% from prior qtr on KOMZIFTI uptake
Total Q2 revenue grew yr/yr, driven by product and collaboration revenue
Net loss widened to $68.3 mln as R&D and SG&A expenses increased
Outlook
Company expects sustained quarter-over-quarter growth for KOMZIFTI
Kura expects to expand physician adoption of KOMZIFTI across treatment centers
Company anticipates cash resources sufficient to fund ziftomenib AML program through topline Phase 3 results in 2028
Result Drivers
KOMZIFTI LAUNCH - Co said Q2 revenue growth was driven by increased uptake of KOMZIFTI, with net product revenue up 57% and new patient starts up 35% over Q1
MARKET SHARE GAINS - KOMZIFTI achieved majority share of new patient starts in its class for relapsed or refractory NPM1-mutant AML, establishing early market leadership
BROADENING ADOPTION - Co cited broader adoption across academic and community centers and increasing repeat prescribing as supporting commercial momentum
Company press release: ID:nGNX1Wsr62
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss |
| $68.33 mln |
|
Q2 Operating Expenses |
| $93.88 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Kura Oncology, Inc. is $28.00, about 182% above its August 11 closing price of $9.93
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)