TuHURA Biosciences Reports $7.1 Million Net Loss in Latest Quarter, Highlights Acquisition of Kineta

TuHURA Biosciences, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company recorded a net loss of $7.1 million for the third quarter, compared to a loss of $5.6 million in the same period last year. For the nine months ended September 30, 2025, the net loss totaled $23.3 million, up from $15.7 million in the prior year. The increase in losses is attributed to heightened research and development expenses, which rose to $14.5 million from $9.4 million year-over-year, reflecting ongoing clinical trials and increased personnel costs.

The company’s total operating expenses for the third quarter reached $6.7 million, a substantial increase from $3.7 million in the previous year. This rise was driven by a $1 million increase in general and administrative expenses, primarily due to stock compensation and costs associated with the recent merger with Kineta, Inc. TuHURA's cash and cash equivalents decreased significantly to $2.7 million as of September 30, 2025, down from $12.7 million at the end of 2024, largely due to cash used in operations and investments in the Kineta acquisition.

Strategically, TuHURA completed its acquisition of Kineta on June 30, 2025, which included the rights to the TBS-2025 monoclonal antibody. This acquisition is expected to enhance TuHURA's product pipeline and operational capabilities. The merger resulted in the recognition of $13.6 million in goodwill and $8.3 million in in-process research and development on the balance sheet. The company is also advancing its lead product candidate, IFx-2.0, through a Phase 3 clinical trial, which began in June 2025.

Operationally, TuHURA has seen an increase in its employee headcount, which has contributed to rising costs. The company is focused on expanding its research and development efforts, particularly in immuno-oncology, and anticipates further increases in expenses as it progresses through clinical trials. The company has not generated any revenue to date and relies on capital raises to fund its operations, including a recent private placement that raised approximately $12.6 million.

Looking ahead, TuHURA's management expressed uncertainty regarding its ability to continue as a going concern without additional funding. The company plans to explore various financing options, including equity offerings and collaborations, to support its ongoing operations and development programs. However, there is no assurance that these efforts will be successful, which could impact the company's ability to execute its strategic plans.