Kura Oncology tumbles on ‘credible threat’ from J&J’s rival blood cancer therapy
KURA•KURA•KURA•KURA•Kura Oncology shares fell 18% to $8.10 after Johnson & Johnson’s ASH abstract drew analyst comments that its bleximenib therapy is a stronger-than-anticipated competitor to Kura’s Komzifti in relapsed or refractory acute myeloid leukemia.
Leerink Partners analysts called J&J’s bleximenib a “stronger-than-anticipated competitor” and a “credible threat” to Kura’s Komzifti in relapsed/refractory acute myeloid leukemia. Cantor analysts described the competitor data as a “modest negative” for commercialization in that setting, while saying Kura remains “competitively positioned” in frontline treatment.
Kura shares fell 18% to $8.10 in afternoon trading. If losses hold, the stock would record its steepest one-day percentage decline in nearly two years. Kura was down 21.7% year to date as of its previous close. Komzifti won FDA approval last year for relapsed/refractory NPM1-mutant AML.
