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Kura Oncology Starts Dosing Patients in Phase II CMML Study

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Kura Oncology, Inc. (KURA - Free Report) announced the dosing of the first patient in a phase II study on its farnesyl transferase inhibitor, tipifarnib, for the treatment of chronic myelomonocytic leukemia (CMML).

Shares of Kura have outperformed the Zacks classified Medical-Biomedical and Genetics industry, with the stock surging 10.7% in the past one year while the industry witnessed a drop of 8.7%.

The study will enroll about 20 patients with CMML and evaluate anti-tumor activity of tipifarnib with regard to the overall response rate. In addition, patient samples will be analyzed for the presence or absence of various biomarkers possibly relevant to the activity of tipifarnib.

We are encouraged by Kura’s progress with tipifarnib. According to the information provided by the company in its press release, CMML is projected to have an annual incidence of approximately 1,400 patients in the U.S. and is usually associated with poor prognosis due to limited treatment options, with only a 29% survival rate after three years of diagnosis.

Kura is evaluating tipifarnib in several other phase II studies for the treatment of HRAS mutant squamous cell head and neck cancer, lower-risk myelodysplastic syndromes and peripheral T-cell lymphoma.

Considering that Kura has no approved product in its portfolio at the moment and tipifarnib is its lead pipeline candidate, we expect investor focus to remain on further updates pertaining to its development.

Zacks Rank & Stocks to Consider

Kura currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in this industry include Anika Therapeutics, Inc. (ANIK - Free Report) , Acorda Therapeutics, Inc. (ACOR - Free Report) and Sunesis Pharmaceuticals, Inc. . While Anika and Sunesis are Zacks Rank #1 (Strong Buy) stocks, Acorda carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Anika’s earnings estimates for 2016 and 2017 were up 3.9% and 0.5%, respectively, over the last 60 days. The company recorded a positive earnings surprise in each of the last four quarters, the average being 33.14%. Its share price was up 35.3% in the past one year.

Sunesis’ loss estimates narrowed from $2.57 to $2.42 for 2016 and from $2.16 to $1.85 for 2017, over the last 60 days. The company recorded a positive surprise thrice in the trailing four quarters, the average being 0.54%.

Acorda’s loss estimates narrowed from 82 cents to 40 cents for 2017 over the last 60 days. The company recorded an average positive surprise of 168.27%.

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