Kintara Therapeutics doubles on plans to merge with TuHURA Biosciences

TuHURA Biosciences

03/04/2024 15:05

(Updates)
    ** Shares of Kintara Therapeutics  KTRA.O  more than double 
to an over three-month high of 24 cents 
    ** Stock set for its biggest one-day pct. rise in nearly
five years if gains hold    
    ** Co to merge with privately held TuHURA Biosciences, with
merger expected to close in Q3
    ** KTRA equityholders expected to collectively own up to
~2.85%, or ~5.45% if certain milestones are met, while TuHURA
equityholders are expected to collectively own ~97.15%, or
94.55% if the milestones are met
    ** TuHURA expects its experimental cancer vaccine to enter a
late-stage trial as adjunct therapy with Merck's  MRK.N  cancer
drug Keytruda, with enrollment in the study to start in H2
    The combined company is expected to operate under the name
"TuHURA Biosciences, Inc." and to trade on Nasdaq under the
ticker "HURA"
    ** Up to last close, KTRA stock down 40.8% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))