Company: HURA
Filing Date: 2025-02-07
Form Type: S-4
Source: 0001193125-25-022803
Chunk: 583

Company: TuHURA Biosciences, Inc./NV
Filing Date: 2025-02-07
Form: S-4
Chunk 583
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,000 for the nine months ended September 30, 2023. Kineta determined the fair value of the rights from Private Placement to be zero as of March 31, 2024 as the second closing of the Private Placement did not occur in April 2024 as expected. As a result, Kineta wrote off the balance of the rights from Private Placement during the three months ended March 31, 2024.

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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 process is unsuccessful, the Kineta Board of Directors may decide to pursue a liquidation or obtain relief under the US Bankruptcy Code. These factors raise substantial doubt about Kineta’s ability to continue as a going concern. Sources of Liquidity Since Kineta’s inception through September 30, 2024, Kineta’s operations have been financed primarily by net cash proceeds from the sale and issuance of Kineta Common Stockand borrowings under notes payable. Kineta has also received upfront and milestone payments from Kineta’s license agreements. As of September 30, 2024, Kineta had $1.9 million in cash and an accumulated deficit of $180.4 million. Subject to receiving adequate funding, Kineta expects that Kineta’s operating expenses will increase, and, as a result, anticipate that Kineta will continue to incur increasing losses for the foreseeable future. Therefore, Kineta will need to raise additional capital to fund Kineta’s operations, which may be through the issuance of additional equity or through borrowings. In July 2024, Kineta received a $5.0 million Exclusivity Payment from TuHURA in connection with the Exclusivity Agreement and are negotiating a Potential Transaction (as defined in the Exclusivity Agreement) with TuHURA. In October 2024, TuHURA exercised its right to extend the Exclusivity Agreement and paid Kineta $300,000 in Exclusivity Payments. Future Funding Requirements Kineta’s revenues to date have been primarily derived from Kineta’s collaboration, research and license agreements as well as grants awarded by government agencies. We, however, have