Kura Oncology, Inc. (NASDAQ:KURA) Q1 2026 Earnings Call Transcript

Kura Oncology, Inc. (NASDAQ:KURA) Q1 2026 Earnings Call Transcript May 12, 2026

Kura Oncology, Inc. beats earnings expectations. Reported EPS is $-0.83, expectations were $-0.88.

Operator: Good day, everyone. My name is Leila, and I will be your conference operator today. At this time, I would like to welcome you to the Kura Oncology first quarter 2026 financial results earnings call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a Q&A session. If you would like to ask a question during this time and if you have joined via the webinar, please use the raise hand icon, which can be found at the bottom of your webinar application. To allow everyone the opportunity to participate, we ask that you please limit yourself to 1 question and then reenter the queue for any follow ups. At this time, I would like to turn the call over to Greg Mann. SVP of Investor Relations and Corporate Affairs of Kura Oncology. Please go ahead.

Greg Mann: Thank you, Leila. Good afternoon, and welcome to Kura Oncology’s first quarter 26 conference call. Joining the call today are Dr. Troy Edward Wilson, President and Chief Executive Officer Brian T. Powl, Chief Commercial Officer; Mollie Leoni, Chief Medical Officer;, and Tom Doyle, senior vice president, finance and accounting. We remind you that today’s discussion will include forward looking statements based on current expectations. Such statements represent management’s judgment as of today and may involve risks and uncertainties that cause actual results to differ materially from expected results. Please refer to Kura’s filings with the SEC which are available from the SEC or on the Kura Oncology website for information concerning risk factors that could affect the company. With that, I will turn the call over to Troy.

Troy Edward Wilson: Thank you, Greg. Good afternoon, everyone. Kura is at an inflection point. We have been building over the last several years is now showing up clearly in the clinic in the market, in the way physicians are making treatment decisions. Our first commercial launch is off to a strong start. Our phase 3 programs are ahead of plan, and over the next 12 to 24 months, we expect a steady flow of data that we believe will define leadership in the menin inhibitor class. Most importantly, we are executing with focus, discipline, and a very clear strategy. Let me start with Comzifty. In our first full quarter of launch, we generated $5.8 million in net product revenue, ahead of expectations. But what matters more to us is what is underneath those numbers, seeing repeat prescriptions.

We are seeing broad uptake. And use expand across treatment centers. We are seeing increasing payer preference and we are seeing early instances of physicians switching patients from other menin inhibitors to Comzifty. That tells us something important. This is not just a class story anymore. Physicians are starting to differentiate based on product profile and we believe Comzifty is standing out. We see that differentiation coming from a combination of compelling efficacy a predictable safety profile, simple and convenient dosing, potential for broad combinability. In real world practice, these things matter, and they are driving how physicians choose therapy. it is early, but based on what we are seeing, we believe Comzifty is well positioned to emerge as a leader in the treatment of adult patients with relapsed refractory NPM1 mutant AML.

At the same time, we are not building this as a single indication product. Our focus is to expand ziftomenib across the AML treatment continuum and establish it as a backbone therapy in combination. This year, we expect to generate multiple data readouts to support that strategy, including updated data from our 7+3 combination in newly diagnosed AML at EHA publication of our venetoclax azacitabine combination and initial data from our gilteritinib combination in relapsed and refractory AML patients with NPM1 and FLT3 co mutations. Taken together, these data sets are designed to answer a simple question. Can Comzifty be used broadly safely, and effectively in combination across AML? Based on what we have seen so far, we believe the answer will be yes.

In parallel, our frontline phase 3 program, 17, is progressing ahead of plan with strong enrollment for both studies across leading global sites. Our 1 stop shop design is doing exactly what we intended. Accelerating execution without compromising rigor. Beyond AML, we continue to build a broader pipeline with meaningful upside. darlafarnib is a good example. The data we have generated reinforced its mechanism and potential to overcome resistance to targeted therapies. Have additional combination data this year, including in KRAS, G12C-mutated cancers, where we think there is an opportunity to open up new treatment approaches across large solid tumor indications. So when we step back, we think Kura is in a very strong position. We have a commercial product beginning to gain or that is gaining traction and beginning to differentiate the real world.

We have a pipeline with multiple anticipated near term clinical catalysts that can expand that opportunity significantly and we have the balance sheet to execute our strategy and reach key value creating milestones. The menin inhibitor class in AML is still early. The next 1 or 2 will determine how it evolves and who leads. Based on what we are seeing today in the clinic and in the market, we are confident in our ability to play a leading role in shaping that future. With that, I will turn it over to Brian.

Brian T. Powl: Thanks, Troy. I am very encouraged by Comzifty’s performance in the first full quarter of launch. And although we are pleased by the first quarter results, we are even more encouraged by the underlying trends driving that revenue. Our early momentum reflects 3 core strengths, strong preparation and experienced commercial team and most importantly, a clearly differentiated product profile defined by efficacy, safety, combinability and convenient dosing. Our commercial strategy is focused on 3 priorities. Drive broad awareness of Comzifty’s differentiated profile, deliver strong and consistent quarter over quarter growth and establish leadership in relapsed/refractory NPM1 mutant AML a $350 million to $400 million market opportunity.

In the first quarter, we generated $5.8 million in net product revenue, with 85 new patient starts and nearly 160 total prescriptions. Patients were treated across approximately 60 activated accounts including ziftomenib trial sites, other Revumen Experience Centers, and accounts new to menin inhibitors. More importantly, we are seeing clear signs of growing physician adoption. First, repeat prescriptions and expanding use across treatment settings indicate growing physician confidence with Comzifti in real world practice. Second, following our approval, we have observed physicians switching patients from other Revumen inhibitors to Comzifty. Although still early, this is a meaningful signal that physicians are making active treatment decisions based on the product profile.

Third, we are aware of early physician initiated use of Comzifty in combination with commonly used agents, including venetoclax azacitabine and with gilteritinib in FLT3 co mutated patients. This physician initiated use reinforces our belief that ziftomenib has potential to be a highly combinable backbone for use across AML patient populations. Feedback from physicians, pharmacists and nurses consistently highlights the practice advantages of Comzifti particularly its dosing simplicity and convenience for patients, we believe are important factors in real world treatment decisions when monotherapy efficacy is viewed as similar. Collectively, these dynamics point to a clear conclusion. Increasingly, physicians, pharmacists, and nurses are selecting Comzifty which offers strong efficacy with a well characterized and manageable safety profile and convenient once daily dosing compatible with concomitant therapies.

What we describe as efficacy without compromise. Turning to access. We secured coverage at parity or better for more than 93% of covered lives, with no label restrictions. Achieving this level of access this early in launch particularly as a second to market therapy reflects the strong payer recognition of Comzifty’s value. We are also seeing favorable formulary positioning and step edit dynamics. I am thrilled to report more than 10 plans covering more than 12 million lives have placed Comzifty in a favorable policy position. These decisions reflect payer recognition of Comzifty’s differentiated profile and the predictability of its cost in managing patients in this setting. Operationally, execution remains strong. Time from prescription to patient receipt is approximately 3 days.

Ensuring rapid access to therapy. And our field teams in collaboration with Kyowa Kirin are driving strong engagement across both academic and community settings. Looking at the bigger picture, the combination of repeat prescriptions broad payer preferences, expanding real world use, and early instances of switching, gives us confidence that COMZIFTY is not just participating in the menin inhibitor class, but is increasingly defining its leadership position in the NPM1 market. The success we are seeing in this initial monotherapy setting is an important first step reflects our foundational advantage of delivering strong efficacy with a predictable safety profile and convenient dosing that in our view represents efficacy without compromise. Importantly, this early momentum lays the foundation for our next phase of growth.

As we expand into combination and frontline settings. I will now turn it over to Mollie.

Mollie Leoni: Thank you, Brian. In 2026, we expect a continued steady cadence of clinically meaningful data for ziftomenib and darlafarnib. Our strategy for ziftomenib is focused on 1 clear objective, establishing it as a highly active and broadly combinable backbone therapy across the AML treatment landscape. Supported by our registrational clinical programs spanning multiple lines of therapy and patient populations. As treatment paradigms evolve, physicians are increasingly looking for therapies that could be safely and effectively combined with existing standards of care and ziftomenib is specifically designed to address that need. At the upcoming EHA meeting in June, we plan to present updated data from ziftomenib in combination with 7+3 in newly diagnosed NPM1-mutant and KMT2A rearranged AML.

This updated dataset will include extended follow-up with a median of approximately 16 months, including treatment course and response durability. We also expect to publish data showcasing venetoclax, and azacitabine in combination with ziftomenib in relapse or refractory NPM1 mutant AML. These data expand upon our presentation at ASH 25, where we reported a striking 70% composite CR rate in patients without prior venetoclax exposure. This is an important regimen as venetoclax/azacitidine remains a widely used standard of care. In parallel, we are advancing combinations with FLT3 inhibitors. As a reminder, FLT3 mutations occur in approximately 1/3 of AML patients, and notably 50% of NPM1-mutant patients have FLT3 co mutations. We anticipate preliminary data in the H2 of the year from ziftomenib in combination with gilteritinib in relapsed or refractory NPM1-mutant FLT3 mutated AML.

We are also evaluating ziftomenib in combination with quizartinib in the newly diagnosed setting. As a whole, these data are building a consistent picture. ziftomenib can be integrated across multiple treatment approaches without compromising safety or activity in clinical studies. An attribute we believe will be essential for long term use in both relapse and frontline settings. Turning to our frontline development program, Our COMMODORE-17 trial is an innovative 1 stop shop design, which enables simultaneous enrollment into 2 independent phase 3 trials at each activated site. This streamlined approach is a meaningful differentiator and operational advantage. Allowing us to accelerate enrollment while maintaining rigorous study design and execution.

We are very pleased with the progress to date, Site activation and enrollment are ahead of projections with strong participation from leading academic centers across The US, Europe, and Asia. This level of engagement reflects both the clinical interest in menin inhibition and the confidence investigators have in ziftomenib’s profile. Particularly its potential to be combined with standard frontline regimens. Beyond AML, we continue to explore the broader opportunity of menin inhibition. Our study evaluating ziftomenib plus imatinib in GIST is progressing well, and we hope to provide updates when appropriate. In addition, we are evaluating the role of menin inhibition in other solid tumors. And turning to darlafarnib, also continues to make important progress.

Recent data presented at the International Kidney Cancer Symposium clear proof of mechanism demonstrating activity in cabozantinib pretreated clear cell renal cell carcinoma, a setting where clinicians would not typically expect to re induce responses with the same TKI after progression. These findings support the role of the Reb mTORC1 resistance pathway and reinforce potential for darlafarnib to restore sensitivity to targeted therapies. Enrollment in the phase 1b portion of the darlafarnib plus cabozantinib trial is now underway. In addition, we intend to present an update on the full phase 1a data set later this year. We see combinations of FTIs and KRAS inhibitors as a potential next advance for patients. At ASCO, we will present preliminary data evaluating darlafarnib plus adagrasib in KRAS G12C-mutated solid tumors And we look forward to discussing that data at a virtual event on June 3rd.

I am incredibly proud of our teams at Kura for the disciplined, focused execution behind these programs. Their cross functional commitment and operational excellence are helping translate our strategy into meaningful clinical progress for patients. And with that, I will turn the call over to Tom for financial updates.

Thomas Doyle: Thank you, Mollie. I am happy to provide a brief overview of our financial results for the first quarter of 2026. Our net product revenue from Comzifty sales was $5.8 million compared to none for the same period in 2025. Collaboration revenue from our Kyowa Kirin Partnership was $12.5 million compared to $14.1 million for the same period in 2020. Research and development expenses were $65.3 million compared to $56 million for the same period in 2025. The increase was driven by ziftomenib combination trials, including the start of enrollment in our COMMODORE-17 trials in 2025. Selling, general and administrative expenses were $31.6 million compared to $22.8 million for the same period in 2025. This increase was driven by the commercial launch of Comzifty.

Net loss for the Q1 2026 was $73.3 million compared to a net loss of $57.4 million for the same period in 2025. This includes non cash share based compensation expense of $8.4 million compared to $7.8 million for the same period in 2025. As of March 31, 2026, Kura had cash, cash equivalents and short term investments of $580.8 million compared to $667.2 million as of December 31, 2025. We are maintaining our previously communicated guidance for collaboration revenue. We expect this to be $45 million to $55 million in 2026 $90 to $110 million in 2027, and $90 to $110 million in 2028. This revenue reflects noncash based accounting recognition of performance obligations under our collaboration agreement with Kyowa Kirin. Current cash, cash equivalents and short term investments as of 03/31/2026 together with anticipated payments of $180 million under our collaboration agreement with Kyowa Kirin, are expected to fund our ziftomenib AML program through the first top line phase 3 results from COMMODORE-17 anticipated in 2020.

With that, I will turn the call back over to Troy.

Troy Edward Wilson: Thank you, Tom. As I said at the outset, the company is firing on all cylinders. Our first commercial launch is off to a strong start, Our phase 3 programs are ahead of plan, and we expect a strong cadence of data over the next 12 to 24 months that will further define leadership for ziftomenib in the menin inhibitor class. With that, we will conclude our prepared comments and we are happy to, Leila, to open the call up for questions.

Q&A Session

Operator: We will now move to our Q&A session. If you have joined via the webinar, please use the raise hand icon, which can be found at the bottom of your webinar application. When you are called on, please unmute your line and ask your question. We will now pause a moment to assemble the queue. And, again, we ask that you please limit yourself to 1 question. You are welcome to then reenter Our first question will come from Li Watsek with Cantor. You may now unmute and ask your question.

Analyst: Hey, team. This is Stan Bronder on for Lee Watsak. Thanks so much for taking our question, and congrats on the update and the commercial launch. Can you give us some color on how we should think about the duration of treatment with Comzifty early given that it sounds like we have patients on monotherapy as well as some that might be receiving a combination would greatly appreciate it. Thank you.

Troy Edward Wilson: Sure, Stan. Thanks for the question. Let me ask Brian if he can speak to that.

Brian T. Powl: Sure. Sure. Thanks, Stan, for the question. I think it is difficult at this point to really give too much detail on duration of treatment, because we have 1 full quarter. We have reiterated before that our expectation is to get around 6 months of treatment. What I can say is that we are very pleased, of course, with the number of new patient starts. We think that is really the measurement at this early in the launch to measure how well we are doing. And think the 85 new patient starts sets us up well. What we need to do is really track several quarters to get a better sense of that.

Operator: Your next question will come from Peter Green with LifeSci Capital.

Analyst (Peter Green): Hi. This is Peter on for Charles. Congrats on the results team. You mentioned a few times the frontline opportunity and also strong enrollment in COMMODORE-17. And in light of sorry, EHA abstracts today, I have a question. You know, I am noticing from last year that complete response rates across both NPM1 mutant and KMT2A rearrange AML, and that is in the frontline. For ziftomenib in combination with 7+3. I am noticing those CR rates are increasing. I am also noticing that CR MRD negativity is, you know, in NPM1 occurring potentially out to 43 weeks in some patients. So I guess with all of that said, what have you learned from COMET-007 about ziftomenib’s profile in the frontline, especially over longer term use. Is there some response deepening happening, or is this just kind of an artifact of including or of including less adverse risk patients? Thanks.

Mollie Leoni: So I think we have learned foremost that we are using it correctly. And that doing it with this staggered start and a start that enables patients to continue to remain on without having to interrupt or lower dose or discontinue for adverse events is a really powerful way to keep these patients both in a response have that response deepen over time, and have these patients be able to continue on into some form of continuation treatment, whether that be post transplant or post consolidation. We continue to gather more data and we continue to be extremely encouraged that the way we have designed 007, the data we continue to gather from COMET-007 helps us to really reinforce that we have correctly designed COMET-007 and COMMODORE-17 so that we can expect great outcomes for these patients in the frontline as well.

Troy Edward Wilson: Yeah, Peter, this is Troy. Just to add to Mollie’s comments, I agree with everything she said. 1 of the things you will see at EHA is really this is probably the most mature set of data in the frontline, and it is really a story of durability. And clinical benefit for patients. The data will be updated at presentation, but response rate, MRD negativity are important. We will really draw people’s attention as well, as Mollie said, to the durability. We are really you know, this is this is this data is pretty unprecedented. And I think very encouraging for from the promise of menin inhibitors and the and the COMMODORE-17 study, as she said. Thank you.

Operator: Your next question will come from Jonathan Chang with Leerink Partners.

Analyst (Jonathan Chang): Hi, guys. Thanks for taking my question. On the Comzifty launch, can you provide more color on what you are seeing in terms of initial combination use and instances of switching from other menin inhibitors how common is combination use and switching? Thank you.

Brian T. Powl: Yes. Thanks for that question, Jonathan. Yeah. So, what I can share about the combination use of ziftomenib, of course, as you know, our promotional teams, our commercial teams are focusing on promoting on label as a monotherapy. But physicians are choosing to use in combination. The data we are seeing so far is that it is about, probably about 40% of patients are getting using Comzifty in combination either with venetoclax/azacitidine or, in those FLT3 co mutated also with, with gilteritinib. So that is a what we are seeing early on. I think that, you know, getting to the expectation of how those patients will do is something we will follow. And regarding your question on switching, that is something that we, as I said, we observed, especially as 2 products then became available.

It just kind of drove where physicians are choosing to use Comzifty based on the profile. I think that is going to be probably less of a trend than the combination use that we expect to go forward. But, nevertheless, it does demonstrate the strength of the Comzifty profile and really, I think, the strong initial early momentum we have had in this first quarter of launch.

Analyst (Jonathan Chang): Understood. Thanks for taking my question.

Operator: Your next question will come from Etzer DeRoute with Barclays. Etzer, feel free to unmute and ask your question.

Analyst: Greg. Thanks for taking the question. Congrats on the quarter. Just a follow-up on the question. If maybe you could comment on the primary reason patients have been switching from other menin inhibitors, not sure how much data point you have gotten at this point, but just wondered if something you could comment on. Thank you.

Brian T. Powl: Yeah. I do not think I can thanks for the question, Etzer. I do not think I can go into the details of each patient that switched, really. Probably more at a high level. We are seeing that physicians now, they have a choice between multiple inhibitors, and there have been physicians who have chosen to switch those patients from another menin inhibitor to give them the opportunity to benefit from Comzifty. So it is could be based on the profile, based on, you know, whatever the decision the physician feels based on if it is efficacy, the safety profile, the simplicity of use. All of those things are what we have heard has resonated from a number of physicians.

Troy Edward Wilson: Yeah, Etzer, just to jump in for a second and build on that, I mean, the switching is, to some extent, what we expected. You know, I do not– I agree with Brian. I do not think it is probably the most significant aspect. What we draw your attention to is, as Brian said in his prepared remarks, the new patient starts. You know, the other menin inhibitor had approximately a hundred and 30 new patient starts. We have had 85 in our first full quarter. that is about 40%. Given that the story prior to this was kind of a winner-take-all, we think we have got, you know, really strong momentum. To be able to take, you know, leading market share in NPM1. You are going to see some switching. I mean, I as we have said, we think we have the superior overall profile.

But where we really think you are going to see it is in the new patient starts, you know, increased new patient starts, Again, use in combination, although that is not our labeled indication, you know, that is physician discretion. Those are some of the elements we draw folks attention to. Greg. Thanks for the color.

Operator: Your next question will come from Reni Benjamin with Citizens.

Analyst (Reni Benjamin): Good afternoon, guys. Thanks for taking the questions, and congrats on the progress. Maybe just sticking with the new patient starts, you know, I guess, any other or additional color you can provide? Anything regarding gross to net dynamics? When you talk about the 157 total prescriptions, are these you know, are the scripts typically, like, 1-month in average? Are they 3 months on average? How can you give us some sort of details there? And just, you know, if I throw 1 more in regarding the commercialization, you said 60 activated accounts. Brian, what is kind of the total number of accounts that you are targeting? You know, just to give us a sense as to where we are in the cycle? Thanks.

Brian T. Powl: Yeah. Sure. So thanks for the question, Reni. So you know, with regards to these new patient starts, the color we are seeing, and I shared a little bit, these are you know, the relapsed refractory patients that kind of fit across that we are seeing it across accounts that are either you know, Comzifty trial sites. We are seeing it from those who have experience with other menin inhibitors as well as those who have not had any experience. What we are seeing is a, you know, very strong start this early on that we are able to get, as Troy mentioned, you know, 40% of the kind of new patient starts in this first quarter alone. Gives us a lot of confidence that there are patients out there who may benefit from Comzifty, and we are we are very pleased with the opportunity we have to move forward with that at this point in time.

We do say, and as I have mentioned in the remarks, we are going to continue to see quarter-on-quarter growth. We will continue to go deeper into other accounts. And, ultimately become the market leader in this space. Based on that menin-class share. So we are very encouraged about the start right now. We look forward to that in the future.

Troy Edward Wilson: And, Reni, the scripts are the scripts are 1 month. Right? They are these are 1-month scripts. So Got it.

Analyst (Reni Benjamin): And the gross to net? Dynamics?

Brian T. Powl: Thanks, Reni, for that question. Those are within normal ranges, so in that 20% to 30% range.

Analyst (Reni Benjamin): Excellent. Thanks very much, guys.

Brian T. Powl: Thanks, Reni.

Operator: Your next question will come from Roger Song with Jefferies.

Analyst (Roger Song): Hey, team. Thanks for taking our question. This is Nabeel on for Roger. Encouraged to hear on the open label, the combo use — it is 40% in combination. I am just kind of curious if you could give us color on how this looks in academic and community settings. And then as we get more data, the venetoclax/azacitabine publication and then the second half data with the FLT3 combo do we expect this to sort of evolve, and does the Comzifty have any advantage here?

Brian T. Powl: Yeah. So, I mean, I think that as we said, you know, this is our combination use is not what we are promoting actively, but it is based on a lot of the data. I think that in the remarks that as we have shared here, Mollie’s remarks around the combination use, this really shows that we have a potential to, become that strong leader, in the relapsed refractory setting, but in the frontline setting. The data that we will be presenting in the publication with venetoclax/azacitidine will be coming, as we said, in H1 2026. We think that will help to draw momentum. Of course, our objective is to submit that to NCCN guidelines, but we cannot determine whether or not that will be incorporated. But we have heard feedback from physicians that the publication of the data are very important for them.

So we will see that plus the potential unique combination to be able to combine with the FLT3 inhibitor, I think also gives us a strong avenue to build strength in a market where there is 50% of the NPM1 patients who have a FLT3 co mutation. Which may be unique to Comzifty’s profile to be able to do.

Operator: Your next question will come from Philip Nadeau with TD Cowen.

Analyst (Philip Nadeau): Good afternoon. Thanks for taking our question, and congrats on the progress. Regards to the frontline data that is going to be at EHA, we are curious to get your most recent thoughts as to what measures you think investigators and physicians are going to look to when thinking of adopting menin inhibitors in the frontline Do you think, ultimately, the most powerful data will be the durability of the response? Could it be progression to transplant? Ultimately, overall survival I guess in your in your conversations, what are physicians evaluating most prominently as they think about moving the menin inhibitors forward? Thanks.

Mollie Leoni: Yeah. I Sure. I actually think it is a combination of all of those things you said. Ultimately, survival is the primary endpoint. You want these patients to live. there is some ability to get to curative intent with transplant, and we want to be able to expand patients’ ability to get to curative intent. So the durability, I think, is going to be your best prognostic indicator for our ability to increase the survival. And I think the MRD negativity is going to be what actually predicts the durability as well. So all of them are extremely important. We are seeing extremely high response rates You would expect to see maybe 70 to 80 percent of patients having a complete response 7+3, and we are seeing things in the high nineties.

You would expect to see about 45 percent of patients have MRD negativity in the bone marrow, and we are seeing that in the eighties. So again, I think that all signs are pointing to these patients having really strong, really deep responses at a great chance of having an effect on survival overall.

Analyst (Philip Nadeau): that is very helpful. Thank you. Thanks. Your next question will come from Salim Syed with Mizuho.

Analyst (Salim Syed): Hey, Greg. Congrats on the quarter, guys, and thanks for taking the question. Just 1 for us on that 40% number. Troy. Could you maybe comment on the cadence through the quarter? Is that something that is also representative of your exit NBRx share for NPM1, or was it higher kind of coming out of the quarter and similarly, I guess, is that similar to the dynamics you are seeing for this current quarter? Thank you.

Troy Edward Wilson: Yes, Salim. I mean, we are we are talking about small numbers. Our goal here is to be the market leader in relapsed/refractory NPM1 You know, that is 51% or more. I think you are gonna see us push that as high as we can. You know, there is as you know, I mean, you have been doing this a long time. there is a lot of variability week to week, month to month. What I think we are really encouraged by is you know, we are second to market behind another product that is been on the market now for 15 months. And we have taken 40% of new patient starts in the first full quarter. that is what we set out to do. that is, you know, that is just the beginning. I think we are very optimistic. You are hearing it whether it is in the performance of the field force and the commercial team, whether it is the EHA abstract, this, you know, Ziftomenib or Comzifty in the commercial setting has a real opportunity So, you know, look for us to build on that.

As Brian said, I think we are just getting started. We are still learning. We are still educating. This is the first step, but I think a very, very encouraging first step. Okay. Sounds good. Thanks so much.

Brian T. Powl: Sure.

Analyst (Salim Syed): Thanks for the question.

Operator: As a reminder, if you would to ask a question, please use the raise hand icon, which can be found at the bottom of your webinar application. Our next question will come from David Dai with UBS.

Analyst (David Dai): Greg. Thanks for taking my questions, congrats on the quarter. So a few questions from me. 1 is on that $5.8 million revenue, how much of that is inventory stocking And then how should we think about the u the combo use could extend the duration of therapy beyond the 6 months on therapy? And then lastly, do you think the patients will actually continue to use menin inhibitors beyond progression?

Troy Edward Wilson: So just a reminder, everybody, David, I am gonna I do not mean to single you out, but we are we are trying to limit people to 1 question. So there is not any meaningful stocking.

Brian T. Powl: I mean, this is you can see this in the numbers. But, Brian, maybe you can speak to durability, the question on durability combo. Yes. I mean, I think that, as I said earlier, David, I think the duration of treatment is something we will be seeing over time. it is difficult to say within a first full quarter of how much that duration is used. Our expectation is that patients who are, are on therapy and combination will likely have a longer duration, but we need a little more time to play that out. Because you need to understand which type of patients are getting on therapy. Is it more second line versus third or fourth line or something? Those are the things that we are tracking. We are we are pleased with where we are where we are heading now.

But you I could ask if we could get a couple more quarters under our belt. To get a better sense on what that durability could be. But we would reiterate that our we believe that this overall market opportunity in the relapsed refractory setting still remains around that $3.50 to $400 million.

Troy Edward Wilson: Yeah. David, what I might add to that is we were not surprised to see some spontaneous combination usage. I think we were pleasantly surprised to see physicians choosing to combine with gilteritinib, given that we are not even planning to present that data until sort of toward the end of the year, But given the you know, given the overall profile, the combinability of ziftomenib, it is nice that physicians have that option for their patients. And we are starting to see that kind of work its way into the into the commercial setting. that is that is that is very gratifying. it is not anything we are promoting, but it is nice to see.

Analyst (David Dai): Thank you so much for taking the time to answer my questions.

Troy Edward Wilson: Sure.

Operator: Your next question will come from Daniel Breuns with Lake Street.

Analyst: Thanks. Thanks for taking my questions. Congratulations on the strong launch. For ASCO, I was just curious, will we be seeing any monotherapy data there or just combination data for darlafarnib with adagrasib.

Mollie Leoni: So we have yeah. So we have actually previously presented the monotherapy data, last year. And to give you an idea of the really wide therapeutic window that we have, with the monotherapy, a balancing both efficacy and safety that we will be able to do an extensive amount of combinations over time. At the ASCO presentation, you are going to see it in combination with the KRAS inhibitor adagrasib. You will see dose escalation data and you will see it across multiple tumor types including non small cell lung, PDAC, and colorectal cancer. And we are very excited to be able to share this with you for our third installment of the Reb mTORC inhibition pathway that is helping to overcome adaptive and innate resistance for these patients suffering from cancer.

Analyst: Thanks.

Operator: Your next question will come from Peter Green with LifeSci Capital.

Analyst (Peter Green): Hi. This is Peter again on for Charles. Just wondering, you mentioned that the COMMODORE-17 trial is enrolling ahead of schedule. Just wondering if there is any more details on that, what you are hearing from investigators And then remind me, how does that change any guidance for a potential future readouts?

Troy Edward Wilson: Yeah. Maybe Mollie can speak to anything we are hearing. Peter, and then I can I can address your question about guidance?

Mollie Leoni: From investigators, all we hear is excitement. Excitement for new sites to get up and running, new regions to get up and running. I can tell you that participation both in the US, Europe, and Asia is extremely strong. And has come to that level of strength very, very quickly. So I would say COMET-007 was a great indicator of how quickly we could enroll, you know, 200 patients into a Phase 1 trial. The Phase 3 is going incredibly well, and then really well predicted by that enrollment rate we saw in 7.

Troy Edward Wilson: And on the guidance question, Peter, we have not changed anything at this point. We have guided to the initial top line results. From the first from the intensive chemotherapy combo in 2028. We have not been more specific. You know, we might tighten that up as we get closer. I will highlight we are significantly ahead as far as we can tell the competition in that setting. But even in the venetoclax-ineligible setting, which is the other side of COMMODORE-17, you know, the team is making just incredible progress. And you know, really credit to Mollie for combining these 2 phase threes into a single protocol such that every time we activate a clinical site, we are getting, you know, 2 phase 3 starts for the price of 1.

And so you are going to– I think you are going to see that continue to get pulled through The excitement has just been, you know, palpable. We did a an investigator meeting recently, and it was incredibly well attended and well received. So onward we go.

Operator: There are no more questions at this time. I would now like to turn the call over to Troy Edward Wilson for closing remarks.

Troy Edward Wilson: Thank you, Leila. And thank you all for joining us today. We are encouraged by the early performance of the Comzifty launch, the momentum we are seeing across our clinical programs, the clarity of our strategy moving forward. With continued commercial execution, multiple clinical catalysts ahead, including EHA and ASCO, and a strong financial position, we believe Kura is well positioned to drive meaningful impact for patients and to create long term value. We look forward to updating you again soon and to engaging with many of you at our upcoming investor event later this month. Thank you all once again, and we will adjourn.