Kura’s $150M PIPE; Lilly’s investment in Prism BioLab; Annovis delays PhIII data, citing ‘data cleaning’
24 Jan 2024
IPO
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
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