According to a filing with the Securities and Exchange Commission, President and CEO Wilson bought 100,000 shares at an average price of $11.12.
- The purchase totaled roughly $1.1 million.
- The insider buy follows Kura’s second-quarter results released last week.
- The company’s main and only commercial product, KOMZIFTI, generated $9.1 million in sales in Q2, up 57% from the previous quarter.
Shares of Kura Oncology Inc. (KURA) rose 8% in after-hours trading on Monday after its CEO, Troy Edward Wilson, bought shares of the company worth over a million from the open market.
CEO Acquires 100,000 Shares
According to a filing with the Securities and Exchange Commission, President and CEO Wilson bought 100,000 shares at an average price of $11.12. The purchases were made on Monday through a family trust he controls. After the buy, that trust held about 379,000 shares. Wilson also holds additional shares through other trusts and in his own name. The purchase totaled roughly $1.1 million.
Stronger Sales For Key Drug
The insider buy follows Kura’s second-quarter results released last week. The company’s main and only commercial product, KOMZIFTI, generated $9.1 million in sales, up 57% from the previous quarter. After only two full quarters on the market, the drug has taken the lead in new patient starts among similar treatments for a form of blood cancer.
KOMZIFTI is already being tested in earlier stages of the same blood cancer, including combinations with standard chemotherapy. Positive longer-term results from ongoing studies were presented at a major European medical meeting this summer. The company is also advancing a second experimental drug, darlifarnib, aimed at several solid tumors, with early combination data shown at recent cancer conferences.
How Did KURA Retail Traders React?
On Stocktwits, retail sentiment around KURA stock stayed within the extremely bullish territory over the past 24 hours, while message volume stayed at high levels.
“Nice show of confidence after encouraging Q2 call,” a Stocktwits user wrote.
View this Stocktwits post
“When an insider drops $1.11M of their own cash on open-market shares at $11.12, it isn’t routine compensation management—it’s an unmistakable signal of conviction…” another user wrote. “When the leader of the pack buys heavy, the whole field is undervalued.”
View this Stocktwits post
KURA stock has gained 9% year-to-date.
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