Analyst Charles Zhu of LifeSci Capital maintained a Buy rating on Kura Oncology (KURA – Research Report), retaining the price target of $24.00.
Charles Zhu has given his Buy rating due to a combination of factors surrounding Kura Oncology’s recent developments and strategic positioning. The company, along with its partner Kyowa Kirin, has submitted a New Drug Application (NDA) for its menin inhibitor, ziftomenib, targeting relapsed/refractory NPM1-mutant acute myeloid leukemia (AML). This submission is notably ahead of a competitor’s expected filing, which positions Kura favorably in the market.
Additionally, Kura has requested Priority Review from the FDA, supported by their existing Breakthrough Therapy Designation. If granted, this could expedite the review process to six months, potentially leading to an earlier approval. The company’s trial has already achieved its primary endpoint, with an objective response rate between 21-29%, adding further confidence in the drug’s efficacy. These strategic moves, along with Kura’s financial positioning and partnership agreements, underpin Zhu’s optimistic outlook on the stock.