#USA #Tampa #Cancer Immunotherapy #TuHURA #IFx-2.0

TuHURA Biosciences Secures $15.6 Million Through Registered Direct Offering

TuHURA Biosciences, Inc. (NASDAQ: HURA), a pioneer in the field of immuno-oncology, has publicly announced a significant fundraising initiative. The company is set to raise $15.6 million via a registered direct offering that consists of nearly 9.5 million shares of common stock alongside a duo of warrants allowing further investment.

The Offering Details

The offering entails purchasing shares at a price of $1.65 each, along with Series A and Series B warrants. The Series A warrants will give investors the ability to acquire additional shares at an exercise price of $1.95, becoming actionable six months post-issuance. H.C. Wainwright & Co. serves as the lead placement agent for this transaction, with Rodman & Renshaw LLC stepping in as co-placement agent.

The offering's closure will transpire in three separate tranches. The first tranche, projected for December 10, 2025, will involve issuing 5,219,999 shares along with associated warrants. The second and third tranches are scheduled for late January and late February 2026, respectively, targeting further stock releases of 3,030,303 and 1,212,121 shares.

Strategic Application of Funds

TuHURA has indicated that the proceeds from this fundraising effort will primarily support working capital and address its outstanding $3.4 million bridge note obligation to the Matthew Nachtrab Revocable Trust. This bridge note incurs an interest rate of 3% per month and requires repayment by the end of December 2025 or within 30 days following successful equity financing generating net cash proceeds exceeding $12 million.

Innovations in Cancer Treatment

As a company in Phase 3 of immunotherapy development, TuHURA is committed to creating innovative therapies aimed at overcoming resistance to existing cancer treatment modalities. Its lead product, IFx-2.0, is designed to counter primary resistance to checkpoint inhibitors, a significant obstacle in the effectiveness of cancer therapies like Keytruda®, which treats various malignancies including advanced Merkel Cell Carcinoma.

The forthcoming randomized controlled trial for IFx-2.0 will evaluate its efficacy when administered as an adjunct to Keytruda®.

Additionally, TuHURA has recently enhanced its portfolio through the acquisition of TBS-2025 from the merger with Kineta, Inc. This product is progressing to Phase 2 trials targeting mutNPM1 r/r AML. Furthermore, TuHURA is leveraging its Delta Opioid Receptor technology to propel the development of first-in-class therapeutic conjugates specifically engineered to counteract immune suppression within the tumor microenvironment.

Future Outlook

The upcoming tranche closings signify a crucial step for TuHURA, not only in terms of financial health but also in reinforcing its mission to advance the frontier of cancer immunotherapy. The positive impact of these funds could herald a new era in combatting resistance to treatment, and thus, enhancing recovery outcomes for patients facing cancer.

This announcement elucidates TuHURA's steadfast dedication to innovation in cancer treatments, aiming to make significant strides within the sector while assuring stakeholders of its financial direction and ongoing developmental plans. For further details, interested parties can visit TuHURA's website.

Conclusion

As TuHURA Biosciences progresses with its ambitious plans, the company stands at the precipice of transformative breakthroughs in cancer therapy, potentially offering hope to countless individuals battling this formidable disease. Stay tuned for further updates as TuHURA navigates the path ahead.