Kura Oncology (NASDAQ: KURA) is a clinical-stage biopharmaceutical company focused on developing cancer therapies targeting oncogenic signaling pathways. The company generates no product revenue; it is funded through equity offerings and debt. As of December 31, 2025, Kura had incurred $251.1 million in research and development expenses for the full year, with $23.3 million accrued for clinical trial costs at year-end. Its lead programs include tipifarnib, a farnesyl transferase inhibitor, and darlifarnib, evaluated in combination with cabozantinib in renal cell carcinoma and with adagrasib in KRASG12C-mutated cancers including non-small cell lung cancer, colorectal cancer, and pancreatic cancer. The company is headquartered in San Diego, California and has been audited by Ernst and Young LLP since 2015. Capital structure is cash-dependent, with an ATM facility of up to $150.0 million established in November 2023 under which no shares had been sold as of the filing date.

Revenue model

Pre-revenue clinical-stage company. Funded through equity issuances, including a June 2023 public offering that raised approximately $93.6 million net proceeds, and a term loan facility with Hercules Capital from which $10.0 million was drawn. No product sales revenue is reported.

Products and services

Darlifarnib (farnesyl transferase inhibitor) in combination with cabozantinib for advanced renal cell carcinoma (FIT-001 trial, Phase 1b expansion initiated February 2026) and in combination with adagrasib for KRASG12C-mutated NSCLC, CRC, and PDAC. Adagrasib is supplied by Mirati, a wholly owned subsidiary of BMS, under a clinical collaboration agreement. Milestone payment obligations of up to approximately $77.0 million remain contingent on development milestones, plus sales royalties and sublicense fees.

Customers and end markets

No commercial customers. End markets are oncology, specifically renal cell carcinoma, non-small cell lung cancer, colorectal cancer, and pancreatic ductal adenocarcinoma. Clinical trial participants are the current beneficiaries of the pipeline.

Value-chain role

Drug developer operating upstream of commercialization. Relies on contract research organizations and third-party clinical sites for trial execution. Manufacturing is outsourced. The company sponsors and funds clinical trials, with select drug supply provided by collaboration partners.

Geographic exposure

Headquartered in San Diego, California. No geographic revenue breakdown disclosed given pre-revenue status.

Source: SEC 10-K, filed 2026-03-05

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