Plus, news about IMU Biosciences, ZWI Therapeutics and Sagimet Biosciences:
Kura Oncology’s $150M PIPE:
The biotech
is raising
funds from a stock sale to its existing investors, including EcoR1 Capital, an affiliate of Deerfield Management and Suvretta Capital Management. It’s selling at $17.25 a share, a 29% premium to Kura’s closing price on Tuesday. The news sent the San Diego biotech’s stock
$KURA
up nearly 50% Wednesday morning. The $150 million will likely extend Kura’s runway out to 2027. The company expects to share data next week from a combination study of its lead candidate, ziftomenib, in acute myeloid leukemia.
— Lei Lei Wu