In a recent move, Kentara Therapeutics, a San Diego, California-based pharmaceutical company, has officially withdrawn its designation of two types of preferred stock. The company, listed on the Nasdaq Capital Market under the symbol KTRA, filed the necessary documents with the Nevada Secretary of State on Friday, July 12, 2024.
The two classes of shares affected are Special Voting Preferred Stock and Class B Preferred Stock. According to a filing with the SEC, Quintara previously designated 5,000,000 shares as Special Voting Preferred Stock and 1,000,000 shares as Class B Preferred Stock. The Company has now terminated the designation of both, effective as of the filing date.
No shares of Special Voting Preferred Stock or Class B Preferred Stock were issued at the time of this change, which means that the declassification will remove all matters relating to such shares from the Company’s articles of association. This action reflects an adjustment to Kintara Therapeutics’ corporate structure, which may simplify its capital structure.
The Company has filed the official documentation for these changes as attached documents. These documents include certificates of amendment or withdrawal of designation for both the Special Voting Preferred Stock and the Class B Preferred Stock.
Kintara Therapeutics is known in the pharmaceutical industry by its SIC code 2834, which relates to pharmaceuticals. The company has undergone previous name changes, with its former names becoming DelMar Pharmaceuticals (NASDAQ:), Inc. and Berry Only Inc., reflecting its evolving business focus.
This announcement was made in compliance with SEC regulations, and the Company’s CEO, Robert E. Hoffman, signed the report confirming the management change. This development is part of the Company’s regulatory disclosures and does not necessarily indicate a change in the Company’s operations or strategy. Information is based on a press release.
In other recent news, TuHURA Biosciences, Inc. announced a major breakthrough in its cancer treatment efforts. The company has acquired exclusive rights to an advanced immunotherapy asset, KVA12123, an anti-VISTA antibody currently in clinical trials.
The acquisition, supported by a $5 million investment from an existing shareholder, strengthens TuHURA’s financial position as it advances its Phase 3 clinical trial for another cancer treatment.
Additionally, TuHURA reported positive results from a Phase 1b trial of its lead cancer vaccine candidate, IFx-2.0. The trial, conducted with Kintara Therapeutics, showed that 80% of patients who had previously failed to respond to certain treatments achieved a significant response after treatment with IFx-2.0. This success has paved the way for a planned registration-oriented Phase 3 clinical trial, scheduled to begin later this year.
In parallel with these developments, TuHURA is preparing to merge with Kintara Therapeutics, Inc., with the aim of combining resources and expertise to develop a diversified pipeline for the treatment of late-stage oncology. The merger is expected to close in the third quarter of 2024, subject to approval by both companies’ shareholders. Here are some recent developments at TuHURA Biosciences:
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