In a recent move, Kintara Therapeutics, Inc., a pharmaceutical company headquartered in San Diego, California, has officially withdrawn its designation of two types of preferred stock. The company, listed on the Nasdaq Capital Market under the ticker KTRA, filed the necessary documentation with the Nevada Secretary of State on Friday, July 12, 2024.
The two affected stock types are the Special Voting Preferred Stock and the Series B Preferred Stock. According to the SEC filing, Kintara had previously designated 5,000,000 shares as Special Voting Preferred Stock and 1,000,000 shares as Series B Preferred Stock. The company has now terminated the designations of both, effective immediately as of the filing date.
No shares of the Special Voting Preferred Stock or Series B Preferred Stock were issued at the time of this change, which means that the withdrawal of designation will remove all matters related to these stocks from the company's Articles of Incorporation. This action reflects an amendment to the corporate structure of Kintara Therapeutics, potentially simplifying its capital structure.
The company provided the formal documentation for these changes as exhibits in the filing. These include the Certificates of Amendment or Withdrawal of Designation for both the Special Voting Preferred Stock and the Series B Preferred Stock.
Kintara Therapeutics is known within the pharmaceutical industry under the Standard Industrial Classification code 2834, which pertains to pharmaceutical preparations. The company has undergone previous name changes, with its former names being DelMar Pharmaceuticals (NASDAQ:KTRA), Inc. and Berry Only Inc., reflecting its evolving business focus.
The announcement was made in compliance with the SEC regulations, and the company's CEO, Robert E. Hoffman, signed the report confirming the administrative adjustment. This development is part of the company's regulatory disclosures and does not necessarily indicate a change in the company's operations or strategy. The information is based on a press release statement.
In other recent news, TuHURA Biosciences, Inc. has reported significant breakthroughs in their cancer treatment endeavors. The company has secured exclusive rights to an advanced immunotherapy asset, KVA12123, an anti-VISTA antibody currently in clinical trials.
This acquisition, backed by a $5 million investment from an existing shareholder, strengthens TuHURA's financial position as it advances its Phase 3 trial for another cancer treatment.
Additionally, TuHURA has revealed positive results from a Phase 1b trial of its leading cancer vaccine candidate, IFx-2.0. The trial, conducted with Kintara Therapeutics, demonstrated that 80% of patients who had previously not responded to certain therapies achieved a substantial response after treatment with IFx-2.0. This success has paved the way for a planned Phase 3 registration-directed clinical trial, set to commence later this year.
In parallel to these developments, TuHURA is preparing to merge with Kintara Therapeutics, Inc., aiming to consolidate resources and expertise to advance a diversified late-stage oncology pipeline. This merger is expected to be finalized in the third quarter of 2024, subject to approval from both companies' stockholders. These are some of the recent developments in TuHURA Biosciences.
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