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TuHURA Biosciences Inc. (HURA-0.47%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details TuHURA's ongoing development of its lead product candidate, IFx2.0, an innate immune agonist aimed at overcoming primary resistance to checkpoint inhibitors. The company is preparing for a Phase 3 trial using the FDA's accelerated approval pathway.
TuHURA reported a net loss of $22.6 million for the year ended December 31, 2024, compared to a net loss of $29.3 million in the previous year. The decrease in net loss is attributed to the absence of acquired in-process research and development expenses that were present in 2023.
Research and development expenses increased to $13.3 million in 2024 from $9.4 million in 2023, primarily due to ongoing clinical development of IFx2.0 and increased personnel and facility costs.
General and administrative expenses were $4.3 million in 2024, slightly up from $4.1 million in 2023, with the increase attributed to higher non-cash stock compensation expenses and costs associated with being a public company.
TuHURA's cash and cash equivalents as of December 31, 2024, were $12.7 million. The company anticipates these funds, along with anticipated payments from warrant exercises, will support operations through late 2025.
The company completed a reverse merger with Kintara Therapeutics in October 2024, which is being accounted for as a reverse recapitalization. This merger is intended to qualify as a tax-free reorganization.
TuHURA has entered into a merger agreement with Kineta, Inc., expected to close in the second quarter of 2025, subject to certain conditions, including a financing condition.
The filing also discusses the company's strategic focus on developing immune modulating bi-functional antibody-drug conjugates and antibody-peptide conjugates to address tumor microenvironment challenges.
TuHURA continues to rely on external manufacturing and research organizations for clinical trial materials and has reported no significant disruptions in its supply chain.
The company acknowledges the risks associated with its operations, including the need for substantial additional funding, regulatory approval challenges, and competition within the biotechnology sector.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TuHURA Biosciences Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.