Kura Oncology’s shares rose 11.6% in pre-market trading on Monday, extending gains after the company reported second-quarter financial results that exceeded analyst expectations and following an insider purchase by Chief Executive Officer Troy Edward Wilson.
The stock’s pre-open surge lifted it above its 52-week high of $12.90, reflecting investor optimism tied to the company’s performance and insider activity. Wilson acquired 100,000 shares on August 24 at a weighted average price of $12.39, spending approximately $1.24 million. The shares were held indirectly through the One Fish Two Fish Revocable Trust, increasing his beneficial ownership to 479,194 shares via the trust and an additional 300,000 shares through a charitable trust. This follows a prior purchase of 100,000 shares on August 17 valued at about $1.11 million.
Kura Oncology reported adjusted net loss of $0.77 per share for the quarter, compared with the consensus estimate of $0.88. Revenue totaled $20.87 million, surpassing expectations of $20.16 million. The company’s lead drug, KOMZIFTI, continues to gain traction in relapsed or refractory NPM1-mutant acute myeloid leukemia, with analysts noting it is capturing the majority of new patient starts in the indication.
Citizens maintained a Market Outperform rating and set a $24 price target, citing commercial momentum for KOMZIFTI. Jefferies also reaffirmed its Buy rating. The broader market showed modest gains, with the S&P 500 up 0.5%, the Dow Jones Industrial Average rising 0.6%, and the Nasdaq Composite advancing 1.0%.
