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Kura Oncology's stock soars toward record high after trial of lymphoma treatment achieves goal

Tomi Kilgore

Shares of Kura Oncology Inc. soared 27% toward a record high in premarket trading Friday, after the biopharmaceutical company announced a phase 2 trial of its lymphoma treatment achieved its primary efficacy endpoint. The stock was on track to open above its March 2, 2018 record close of $23.40. The company said the results of the trial demonstrated "ongoing anti-tumor activity and a manageable safety profile" in advanced patients with angioimmunoblastic T-cell lymphoma (AITL), as well as non-AITL relapsed or refractory peripheral T-cell lymphoma (PTCL). "We believe these data support the potential to register tipifarnib in both the AITL and PTCL-NOS patient populations, and we look forward to seeking regulatory feedback on next steps for this program," said Chief Executive Troy Wilson. The stock has run up 32% year to date through Thursday, while the iShares Nasdaq Biotechnology ETF has gained 8% and the S&P 500 has advanced 15%.