10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

Commission File Number: 001-37620

KURA ONCOLOGY, INC.

(Exact name of registrant as specified in its charter)


Delaware		61-1547851
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

12730 High Bluff Drive, Suite 400, San Diego, CA		92130
(Address of principal executive offices)		(Zip Code)

(858) 500-8800

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.0001 per share	KURA	The Nasdaq Global Select Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of the close of business on April 26, 2024, the registrant had 76,180,620 shares of Common Stock, $0.0001 par value, outstanding.

KURA ONCOLOGY, INC.

TABLE OF CONTENTS


PART I. FINANCIAL INFORMATION

	Item 1. Condensed Financial Statements (unaudited)

	Condensed Balance Sheets − As of March 31, 2024 (unaudited) and December 31, 2023	1

	Condensed Statements of Operations and Comprehensive Loss – Three Months Ended March 31, 2024 and 2023 (unaudited)	2

	Condensed Statements of Stockholders’ Equity – Three Months Ended March 31, 2024 and 2023 (unaudited)	3

	Condensed Statements of Cash Flows – Three Months Ended March 31, 2024 and 2023 (unaudited)	4

	Notes to Condensed Financial Statements (unaudited)	5

	Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	11

	Item 3. Quantitative and Qualitative Disclosures about Market Risk	20

	Item 4. Controls and Procedures	21

PART II. OTHER INFORMATION

	Item 1. Legal Proceedings	22

	Item 1A. Risk Factors	22

	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	67

	Item 6. Exhibits	68

Signatures

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

KURA ONCOLOGY, INC.

Condensed Balance Sheets

(In thousands, except par value data)


	March 31, 2024		December 31, 2023
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	41,506	$	37,318
Short-term investments		485,616		386,639
Prepaid expenses and other current assets		10,713		8,524
Total current assets		537,835		432,481
Property and equipment, net		1,709		1,859
Operating lease right-of-use assets		6,698		6,993
Other long-term assets		7,666		7,602
Total assets	$	553,908	$	448,935

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses	$	30,903	$	33,757
Current operating lease liabilities		1,363		1,506
Total current liabilities		32,266		35,263
Long-term debt, net		9,376		9,332
Long-term operating lease liabilities

SEC Form 10-Q filed by Kura Oncology Inc.