10/16/2024 | Kintara Therapeutics Announces 1-for-35 Reverse Stock Split in Connection with Proposed Merger with TuHURA Biosciences | NDAQ:KTRA

SAN DIEGO, October 16, 2024 /PRNewswire/ — Kintara Therapeutics, Inc. (“Kintara”) (NASDAQ: KTRA), a biopharmaceutical company focused on developing novel solid tumor cancer therapies, today announced that its Board of Directors (the “Board”) has approved a 1-for-35 reverse split of Kintara common stock. Kintara common stock is expected to begin trading based on the post-reverse stock split on the Nasdaq Capital Market in October 17, 2024under the new name TuHURA Biosciences, Inc. and under the new symbol “HURA” following the anticipated closing of the merger (the “Merger”) with TuHURA Biosciences, Inc. (“TuHURA”), with a new CUSIP number 898920 103 .

The reverse stock split was approved by Kintara shareholders at the special Kintara shareholders meeting held in October 4, 2024to be carried out at the discretion of the Board, not less than 1 in 20 and not more than 1 in 40. The final reverse stock split ratio of 1 for 35 was approved by the Board in October 4, 2024.

As a result of the reverse stock split, every thirty-five outstanding pre-split shares of Kintara common stock will become one share of common stock. The reverse stock split is expected to reduce the number of outstanding shares of Kintara common stock from approximately 55.6 million shares to approximately 1.6 million shares. The par value of Kintara common shares will remain unchanged in $0.001 per share after the reverse split. The reverse stock split will not change the authorized number of shares of Kintara common stock. The reverse stock split will affect all shareholders uniformly and will not change any percentage of the shareholders’ interest in the equity of Kintara, except to the extent that the reverse stock split results in some shareholders owning a fractional share. No fractional shares will be issued in connection with the reverse stock split. Instead, in lieu of any fractional shares to which a shareholder of record would be entitled as a result of the reverse stock split, Kintara will issue to that shareholder the additional fraction of a share necessary to increase such resulting fractional share to a full interest in shares of common stock. . The reverse stock split will also apply to shares of common stock issuable upon the exercise of Kintara’s outstanding warrants and stock options, with a proportional adjustment to the exercise prices thereof, and under Kintara’s equity incentive plans.

Upon completion of the Merger, the total outstanding shares of common stock of the combined company are expected to be approximately 42.0 million shares.

Equity Trust Company, LLC is acting as exchange agent and transfer agent for the reverse stock split. Shareholders holding their shares in book-entry form or in brokerage accounts do not need to take any action in relation to the reverse split. Beneficial holders are encouraged to contact their bank, broker or custodian with any procedural questions.

About TuHURA Biosciences, Inc.

TuHURA Biosciences is an immuno-oncology company in Phase 3 registration developing novel technologies to overcome resistance to cancer immunotherapy. TuHURA’s lead personalized cancer vaccine candidate, IFx-2.0, is designed to overcome primary resistance to checkpoint inhibitors. TuHURA is preparing to initiate a single randomized, placebo-controlled Phase 3 registration trial of IFx-2.0 administered as adjunctive therapy to Keytruda&circulatedR; (pembrolizumab) in first-line treatment for advanced Merkel cell carcinoma.

Additionally, TuHURA is leveraging its Delta receptor technology to develop novel bifunctional antibody-drug conjugates (ADCs) targeting myeloid-derived suppressor cells to inhibit their immunosuppressive effects in the tumor microenvironment to prevent T cell exhaustion and acquire resistance to checkpoint inhibitors and cell therapies.

For more information, visit tuhurabio.com and connect with TuHURA on Facebook, Xand LinkedIn.

About Kintara Therapeutics, Inc.

Located in San Diego, CaliforniaKintara is dedicated to developing new cancer therapies for patients with unmet medical needs. Kintara is developing therapies for medical needs clearly unmet with reduced-risk development programs. Kintara’s lead program is the REM-001 therapy for cutaneous metastatic breast cancer (BCBC).

Kintara has a proprietary late-stage photodynamic therapy platform that shows promise as a localized cutaneous or visceral tumor treatment, as well as in other potential indications. REM-001 therapy, which consists of the laser light source, light delivery device, and REM-001 drug, has been previously studied in four Phase 2/3 clinical trials in BCBC patients who have previously received chemotherapy and/or chemotherapy. or failed radiotherapy. In CMBC, REM-001 has a clinical efficacy to date of 80% complete responses of evaluable CMBC lesions and an existing robust safety database of approximately 1,100 patients across multiple indications.

is based in San Diego, California. For more information, visit www.kintara.com or follow us on X at @Kintara_TheraFacebook and LinkedIn.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements based on the current expectations of Kintara and TuHURA. This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by terminology such as “believe,” “may,” “will,” “estimate,” ” continue”. ,” “anticipate,” “intend,” “could,” “should,” “would,” “project,” “plan,” “expect,” “goal,” “seek,” “future,” “likely” or the negative or plural of such words or similar expressions. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding the expectations, hopes, beliefs, intentions or strategies of the Kintara or TuHURA management team regarding the future. , including, without limitation, statements regarding: the proposed merger and expected effects, perceived benefits or opportunities and the timing relating thereto, expectations regarding clinical trials and research and development programs, in particular with respect to new ADCs TuHURA’s bifunctional IFx-Hu2.0 product candidates, and any developments or results related thereto; the anticipated timing of results from these studies and trials; the signing of the definitive agreement, and the period during which the capital resources of the combined company will be sufficient to finance its anticipated operations; and the expected trading of the combined company’s shares on the Nasdaq Capital Market. These statements are predictions only. Kintara and TuHURA have based these forward-looking statements largely on their current expectations and projections about future events, as well as management’s beliefs and assumptions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the control of Kintara and TuHURA, and actual results may differ materially from those stated or implied in the forward-looking statements due to a number of factors, including, but not limited to: (i) the risk that the conditions to the closing or consummation of the proposed Merger will not be satisfied; (ii) uncertainties regarding the timing of consummation of the proposed Merger and the ability of Kintara and TuHURA to consummate the transactions contemplated by the proposed Merger; (iii) risks related to the ability of Kintara and TuHURA to correctly estimate their respective operating expenses and expenses associated with the proposed Merger, as applicable, as well as uncertainties regarding the impact that any delay in closing would have on the anticipated cash resources of the resulting Merger combined company at closing and other events and unanticipated expenses and costs that could reduce the cash resources of the combined company; (iv) the occurrence of any event, change or other circumstance or condition that may give rise to the termination of the Merger proposed by Kintara or TuHURA; (v) the effect of the announcement or pendency of the proposed Merger on the commercial relationships, operating results and business of Kintara or TuHURA generally; (vi) costs related to the Merger proposal; (vii) the outcome of any legal proceedings that may be instituted against Kintara, TuHURA, or any of their respective directors or officers in connection with the Merger Agreement or the transactions contemplated thereby; (vii) the ability of Kintara or TuHURA to protect their respective intellectual property rights; (viii) competitive responses to the proposed Merger; (ix) unexpected costs, charges or expenses arising from the proposed Merger; (x) whether the combined business of TuHURA and Kintara will be successful; (xi) legislative, regulatory, political and economic developments; and (xii) additional risks described in the “Risk Factors” section of Kintara’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024and the Registration Statement on Form S-4 relating to the proposed Merger filed with the SEC. Additional assumptions, risks and uncertainties are described in detail in Kintara’s registration statements, reports and other filings with the SEC, which are available on Kintara’s website and at www.sec.gov. Accordingly, you should not rely on forward-looking statements as predictions of future events. Neither Kintara nor TuHURA can guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or will occur, and actual results may differ materially from those projected in the forward-looking statements. The forward-looking statements made in this communication speak only to events as of the date the statements were made. Except as required by applicable law or regulation, Kintara and TuHURA undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Investors should not assume that any failure to update a previously issued “forward-looking statement” constitutes a restatement of that statement.

INVESTOR CONSULTATIONS:

Robert E. Hoffman

Kintara Therapeutics

[email protected]

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SOURCE Kintara Therapeutics