Shares of Kura Oncology, Inc. (KURA) are slipping over 15% on Monday morning. On Saturday, the company presented updated clinical data from KOMET-001 trial of Menin Inhibitor Ziftomenib at American Society of Hematology Annual Meeting.
KURA is currently trading at $12.79, down $2.32 or 15.35%, on the Nasdaq. The stock opened its trading at $12.65 after closing Friday's trading at $15.11. The stock has traded between $10.41 and $19.93 in the past 52-week period.
Kura Oncology is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. The company announced updated clinical data from KOMET-001, a Phase 1/2 trial of the company's potent and selective menin inhibitor, ziftomenib, including an encouraging safety and tolerability profile and clinical activity in patients with relapsed/refractory acute myeloid leukemia (AML).
"NPM1-mutant and KMT2A-rearranged AML represent diseases of significant unmet need for which no approved targeted therapies exist," said Harry Erba, M.D., Ph.D., Director of the Leukemia Program at the Duke Cancer Institute. "Notably, NPM1-mutant disease accounts for approximately 30% of new AML cases annually. Although typically associated with a more favorable prognosis, the risk of relapse remains high after initial chemotherapy for NPM1-mutant AML, especially when other poor risk mutations such as FLT3 are present as well. Relapsed/refractory NPM1 mutated AML is associated with a poor prognosis. These data reported today demonstrate encouraging activity and manageable toxicity of ziftomenib in heavily pretreated AML patients with NPM1 mutations."
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