Kintara Therapeutics and TuHURA Biosciences to Merge

April 3, 2024

DENVER, Colo., Apr 03, 2024 (247marketnews.com)- Kintara Therapeutics, Inc. (NASDAQ:KTRA) and TuHURA Biosciences, Inc. announced, this morning, that they agreed to an all-stock transaction to form a company with expertise and resources to advance a risk diversified late-stage oncology pipeline, by advancing TuHURA’s personalized cancer vaccine(s) and first-in-class bi-functional ADCS.

The combined company is expected to operate under the name “TuHURA Biosciences, Inc.” and trade under the ticker “HURA”, with an expected third quarter of 2024 closing.

Robert E. Hoffman, Kintara’s President and Chief Executive Officer, commented, “Following a thorough review and evaluation of opportunities to rebuild value for Kintara shareholders, we believe merging with TuHURA, a Phase 3 immuno-oncology company focused in two compelling areas of research, represents the best path forward for our stockholders and has the potential to deliver near and long-term value. Our board believes that the combined company will be well-positioned to develop powerful new therapies with the potential to overcome resistance to current immunotherapies, an area of significant unmet need.”

“With IFx-2.0 readying to enter a single Phase 3 registration trial, we believe this is the optimal time for TuHURA to transition from a private company to a public company. This proposed merger with Kintara lets us achieve that goal while combining the resources of the two companies. Coupled with a $31 million subscribed financing by TuHURA in connection with the merger agreement, and which is expected to fund the combined company’s operations and development programs through late 2025, we believe this merger will also allow our combined company the flexibility to focus our resources and efforts on advancing IFx-2.0 to market and our other drug candidates toward human clinical trials,” said Dr. James Bianco, President and Chief Executive Officer of TuHURA. “This transaction with Kintara serves as a significant next step in our continued commitment to patients to develop novel therapies to overcome the major obstacles that limit the effectiveness of immunotherapies to treat and cure cancer.”

Its 52-week range is $0.081 to $5.98. It’s already cleared its 3 month high and, although it’s doubtful that it challenges the gap today, it has a huge gap from about $1.10 to $3.60.

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