BUZZ - Kura Oncology shares plunge due to a "real threat" posed by Johnson & Johnson's rival blood cancer therapy

November 4 - ** Kura Oncology (stock code: KURA.O) shares fell 18% to $8.10 in afternoon trading after Johnson & Johnson’s JNJ.N ASH meeting abstract heightened competitive pressure

** If the downward trend continues, Kura’s share price will record its largest single-day drop in nearly two years

** Leerink Partners analysts said Johnson & Johnson’s bleximenib is seen as a “stronger-than-expected competitor,” posing a “significant threat” to Kura’s Komzifti in the treatment of relapsed/refractory acute myeloid leukemia (AML)

** Komzifti (link) was approved last year by the U.S. Food and Drug Administration (FDA) for the treatment of relapsed/refractory NPM1-mutated AML, an aggressive cancer of the blood and bone marrow

** Cantor analysts see rival data as a “slight negative for the commercialization of relapsed/refractory AML,” but believe Kura maintains a “competitive edge” in the frontline treatment space

** As of the previous session’s close, KURA has fallen 21.7% so far this year

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