TuHURA Biosciences Reports Q1 Results, Secures $50M Facility to 2028
TuHURA Biosciences secured a $50 million credit facility bearing 12% interest, extending its cash runway into 2028 and maintaining $6.3 million in cash as of March 31, 2026. The company reported Q1 R&D expenses of $5.2 million and net operating cash outflows of $4.4 million, while advancing its Phase 3 IFx-2.0 trial and targeting FDA meetings for its VISTA inhibitor TBS-2025.
1. Financial Results
TuHURA closed Q1 with $6.3 million in cash and cash equivalents, incurred R&D expenses of $5.2 million and G&A expenses of $2.3 million, and generated net operating cash outflows of $4.4 million. Financing activities contributed $7.2 million in proceeds, bolstering liquidity compared to the prior year.
2. Credit Facility
In April, the company established a $50 million non-equity credit facility with its largest shareholder, carrying a 12% annual interest rate, monthly interest payments and principal due April 21, 2031. Drawdowns can be made as needed to fund operations and clinical development, extending the cash runway into 2028.
3. Executive Appointments and Orphan Designation
Craig Tendler, M.D., was appointed to provide Chief Medical Officer services while remaining on the board, and Amanda Garofalo joined as Senior Vice President of Clinical Operations. The FDA granted Orphan Drug Designation for IFx-2.0 in stage IIB–IV cutaneous melanoma based on safety and clinical benefit data.
4. Pipeline Milestones
Upcoming milestones include an FDA IND meeting for the VISTA inhibitor TBS-2025 and initiation of its Phase 1b/2 trial in mutNPM1 r/r AML, selection of a lead ADC for AML proof-of-concept studies, orphan designation for IFx-2.0 in Merkel Cell Carcinoma and topline Phase 3 results for IFx-2.0 with Keytruda®.