TuHURA Biosciences Inc. Secures $15.5 Million for Cancer Research and Clinical Trials

In a significant development for the biotechnology sector, TuHURA Biosciences Inc., a company listed on the Nasdaq, has successfully raised $15.5 million to advance its cancer research and clinical trials. This funding is a crucial step for the company, which is focused on developing innovative treatments to overcome resistance to cancer immunotherapy.

Funding Breakdown and Strategic Use

The funding was secured through a combination of a $12.5 million equity financing transaction and an additional $3.0 million from warrant exercise proceeds. This strategic milestone-based funding structure ensures that TuHURA has the necessary capital to achieve key objectives in its pipeline. The funds will support multiple clinical programs, including the initiation of a Phase 3 trial and the development of Phase 2 trials.

Key Clinical Initiatives

One of the primary uses of the funding is the initiation of a Phase 3 accelerated approval trial of IFx-Hu2.0. This trial is being conducted as an adjunctive therapy with Keytruda® (pembrolizumab) for checkpoint inhibitor (CPI)-naïve patients with advanced or metastatic Merkel cell carcinoma (MCC). The trial is set to proceed under the Accelerated Approval Pathway and Special Protocol Assessment (SPA) agreement with the U.S. Food and Drug Administration (FDA).

Additionally, the funding will support the acquisition and initiation of a Phase 2 trial in NPM1 mutated Acute Myeloid Leukemia (AML) using a novel VISTA inhibiting antibody. This initiative is part of the strategic benefits following the closing of the Kineta merger.

Innovative Treatment Pipeline

TuHURA is also advancing its first-in-class immune modulating bi-specific and bi-functional Antibody Drug Conjugates (ADC) and Antibody Peptide Conjugates (APCs). These innovative treatments are part of the company’s broader strategy to develop novel therapies that address primary resistance to cancer immunotherapy.

Market and Financial Context

Despite the positive news, TuHURA’s stock has experienced volatility, with a close price of $3.06 on May 29, 2025, and a 52-week low of $1.80 on March 9, 2025. The company’s market capitalization stands at $131.48 million, and it has a negative price-to-earnings ratio of -0.291198, reflecting the challenges and risks inherent in the biotechnology sector.

Conclusion

TuHURA Biosciences Inc. is poised to make significant strides in cancer treatment with its recent funding. The company’s focus on overcoming resistance to cancer immunotherapy and its strategic use of capital to advance its clinical trials underscore its commitment to innovation in the healthcare sector. As TuHURA progresses with its clinical programs, stakeholders will be closely watching its ability to achieve the funding milestones and deliver on its promises by July 2025.