TuHURA Biosciences Reports $7.5 Million Net Loss in Q1 2026, Increases R&D Spending

TuHURA Biosciences, Inc. reported a net loss of $7.5 million for the first quarter of 2026, compared to a net loss of $6.7 million for the same period in 2025. The company's operating loss increased to $7.5 million from $7.0 million year-over-year, primarily driven by higher research and development expenses, which rose to $5.2 million from $4.6 million. The increase in R&D expenses was attributed to ongoing clinical development activities for its lead product candidate, IFx-2.0, and the newly acquired TBS-2025, which is in the early stages of development.

In terms of financial position, TuHURA's total assets increased to $29.7 million as of March 31, 2026, up from $27.4 million at the end of 2025. The company reported cash and cash equivalents of $6.3 million, a significant increase from $3.6 million at the end of the previous fiscal year. This improvement was largely due to financing activities, which generated $7.1 million in cash during the quarter, including proceeds from the issuance of common stock. The company’s accumulated deficit also grew to $148.7 million as of March 31, 2026.

Strategically, TuHURA completed the acquisition of Kineta, Inc. in June 2025, which included the rights to TBS-2025, a monoclonal antibody targeting VISTA, an immune checkpoint involved in cancer immunotherapy resistance. The merger is expected to enhance TuHURA's product pipeline and operational capabilities. The company is currently planning a Phase 1b/2 trial for TBS-2025 in patients with acute myeloid leukemia. Additionally, TuHURA has initiated a Phase 3 trial for IFx-2.0, which is being tested as an adjunctive therapy to Keytruda® for advanced Merkel cell carcinoma.

Operationally, TuHURA has seen an increase in its employee headcount, which has contributed to higher personnel-related costs. The company is focused on expanding its research and development efforts, which may lead to increased expenses in the future. TuHURA has also entered into a $50 million revolving credit facility with Parkview Holdings, which is expected to provide additional liquidity to support its ongoing operations and development programs. The company anticipates that its existing capital resources, along with potential future fundraising efforts, will be sufficient to fund operations into late 2028. However, it acknowledges the inherent risks and uncertainties in achieving profitability and the need for substantial additional funding to support its growth strategy.