Company: HURA
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001193125-25-113920
Chunk: 617

Company: TuHURA Biosciences, Inc./NV
Filing Date: 2025-05-06
Form: S-4/A
Chunk 617
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 and Administrative Expenses General and administrative expenses were $8.1 million for the year ended December 31, 2024 and $12.1 million for the year ended December 31, 2023 and decreased by $4.0 million, or 33%. This decrease was primarily due decreases in personnel costs of $3.8 million and other administrative expenses of $0.2 million. Personnel costs decreased primarily due to lower stock-based compensation of $2.3 million and lower salaries and benefits of $1.5 million due to lower headcount in 2024 as compared to 2023. Other Income and expense, net Interest Income Interest income was $111,000 for the year ended December 31, 2024 and $325,000 for the year ended December 31, 2023 and decreased by $214,000. Interest income decreased due to lower balances in interest-bearing accounts in 2024. Interest Expense Interest expense was a credit of $138,000 for the year ended December 31, 2024 and $337,000 for the year ended December 31, 2023. Interest expense decreased primarily due to interest on outstanding vendor invoices not required to be paid that was previously accrued. Change in Fair Value Measurement of Private Placement Change in fair value of the Private Placement was a loss of $3.8 million for the year ended December 31, 2024 and a gain of $1.6 million for the year ended December 31, 2023. The second closing of the Private 398

Placement did not occur during 2024 and as a result, Kineta deemed the fair value of the rights from Private Placement to be zero as of December 31, 2024. These changes relate to the remeasurement of the rights from the Private Placement that Kineta determined was a derivative, which requires the asset to be accounted for at fair value. Kineta determined the rights from the Private Placement to be a derivative asset when Kineta added a minimum purchase price of $3.18 upon an amendment in 2023.

Going Concern and Capital Resources

Exploring Strategic Alternatives

Kineta requires substantial additional capital to sustain Kineta’s operations and pursue Kineta’s growth strategy, including the development of Kineta’s product candidates. Kineta is exploring strategic alternatives that may include, but are not limited to, sale of assets of Kineta, a sale of Kineta, licensing of assets, a merger, liquidation or other strategic action. If a strategic