Kintara Therapeutics, Inc. - KTRA STOCK NEWS

Kintara Therapeutics (NASDAQ: KTRA) has announced a 1-for-35 reverse stock split in connection with its proposed merger with TuHURA Biosciences. The split is expected to take effect on October 17, 2024, with the company's common stock trading under the new name TuHURA Biosciences, Inc. and the symbol 'HURA' on the Nasdaq Capital Market. This move will reduce Kintara's outstanding common stock from approximately 55.6 million to 1.6 million shares.

The reverse split will not alter stockholders' equity percentages, except for fractional shares, which will be rounded up. It will also apply to stock issuable upon exercise of outstanding warrants and options. Post-merger, the combined company's total outstanding common stock is expected to be about 42.0 million shares. Stockholders with shares in book-entry form or brokerage accounts need not take action, but beneficial holders should contact their financial institutions with any questions.

Kintara Therapeutics (NASDAQ: KTRA) has issued a correction to its previous announcement regarding the issuance of Contingent Value Rights (CVRs) in connection with its proposed merger with TuHURA Biosciences. The CVRs will be issued to Kintara stockholders of record immediately prior to the planned reverse stock split, not based on the previously announced October 17, 2024 record date. This correction is not expected to affect the stockholders who will receive CVRs or the number of CVRs to be received.

Key points:

• The merger is expected to close on October 18, 2024, subject to regulatory approval and remaining closing conditions.
• Kintara plans to effect a 1-for-35 reverse stock split immediately prior to the merger.
• Stockholders will receive one CVR per share of Kintara common stock owned immediately before the reverse stock split.
• The CVRs will entitle holders to an aggregate of 53,897,125 shares of Kintara's common stock, subject to adjustment due to the reverse stock split.

Kintara Therapeutics (Nasdaq: KTRA) has announced October 17, 2024, as the record date for issuing Contingent Value Rights (CVRs) to stockholders in connection with its proposed merger with TuHURA Biosciences. The merger, expected to close on October 18, 2024, will result in TuHURA becoming Kintara's wholly-owned subsidiary. Stockholders will receive one CVR per share of Kintara common stock, entitling holders to an aggregate of 53,897,125 shares upon achievement of certain milestones.

Kintara also plans to implement a 1-for-35 reverse stock split immediately prior to the merger's consummation. The CVRs will be issued before this split and the merger closing. Equiniti Trust Company, is acting as the rights agent for the CVRs.

Kintara Therapeutics (Nasdaq: KTRA) announced financial results for its fiscal fourth quarter ended June 30, 2024, and provided a corporate update. Key highlights include:

1. Kintara entered a definitive merger agreement with TuHURA Biosciences in April 2024, expected to be consummated in mid-October 2024.

2. Four patients have been dosed in Kintara's REM-001 study for cutaneous metastatic breast cancer.

3. As of June 30, 2024, Kintara had cash and cash equivalents of $4.9 million.

4. For Q4 2024, Kintara reported a net loss of $2.3 million, or $0.04 per share, compared to a net loss of $3.3 million, or $1.97 per share, for Q4 2023.

5. Full-year 2024 results show a net loss of $8.32 million, with research and development expenses decreasing to $2.66 million from $9.31 million in 2023.

Kintara Therapeutics (Nasdaq: KTRA) announced the adjournment of its Special Meeting of Stockholders on September 20, 2024, due to insufficient voting on Proposals 3 and 5. The meeting will reconvene on October 4, 2024 at 9:00 a.m. Eastern Time. Proposal 3 seeks approval to increase authorized shares to 400,000,000, while Proposal 5 aims to reincorporate Kintara from Nevada to Delaware. Both proposals are related to Kintara's proposed merger with TuHURA Biosciences.

The record date remains August 14, 2024. Stockholders who have already voted do not need to recast their votes, and previously submitted proxies will be valid for the adjourned meeting unless properly revoked.

Kintara Therapeutics (Nasdaq: KTRA) is urging stockholders to vote by 11:59 p.m. ET on September 19, 2024, for its Special Meeting on September 20. The vote is important for completing the proposed merger with TuHURA Biosciences. Proposals 3 & 5 require majority approval from outstanding shares as of August 14, 2024. Proposal 3 seeks to increase authorized shares, while Proposal 5 involves reincorporating from Nevada to Delaware. CEO Robert E. Hoffman emphasizes the merger's importance, potentially combining oncology assets and technologies with $31 million in financing. If not approved, Kintara's future remains uncertain. Stockholders can vote by phone, internet, or through their broker.

Kintara Therapeutics (Nasdaq: KTRA) provided updates on its corporate developments and REM-001 clinical study. Key points include:

1. Merger agreement with TuHURA Biosciences, with Kintara stockholders owning 5.45% of the combined company.

2. Special Meeting of Stockholders on September 20, 2024, to approve the merger.

3. REM-001 study for cutaneous metastatic breast cancer (CMBC) has enrolled 4 out of 10 required patients.

4. No treatment-related safety issues identified in the REM-001 study to date.

5. $2.0 million SBIR grant covering majority of REM-001 study costs.

6. Kintara may face financial difficulties without the merger completion.

Kintara Therapeutics (Nasdaq: KTRA) is urging stockholders to vote on the proposed merger with TuHURA Biosciences at the upcoming Special Meeting on September 20, 2024. The all-stock transaction aims to create a combined company focusing on advancing a late-stage oncology pipeline. Key points:

• Stockholders must vote by 11:59 p.m. ET on September 19, 2024
• Post-merger, Kintara equityholders will own up to 5.45% of the combined company
• The new entity will trade as 'TuHURA Biosciences' under ticker 'HURA' on Nasdaq
• Merger expected to close in Q3 2024, subject to stockholder approval

Voting can be done by phone or internet. The company may adjourn or postpone the meeting if more voting time is needed.

TuHURA Biosciences and Kintara Therapeutics (Nasdaq: KTRA) announced that Kineta Inc. has reopened enrollment for the VISTA-101 Phase 1/2 clinical trial evaluating KVA12123 in patients with advanced solid tumor cancer. The trial has enrolled 30 out of 39 projected patients, including a monotherapy arm and a combination arm with Merck's KEYTRUDA®. Kineta expects full enrollment by the end of 2024.

KVA12123 has shown promising initial results, including partial response and stable disease in combination cohorts and durable stable disease in monotherapy cohorts. The drug has demonstrated a favorable safety profile with no dose-limiting toxicities or cytokine release syndrome. TuHURA is currently in due diligence for the potential acquisition of KVA12123 from Kineta, following a $5 million nonrefundable payment and an exclusive negotiation agreement.