Kura Oncology, Inc. (NASDAQ:KURA), a biopharmaceutical company focused on the development of precision medicines for oncology, announced significant changes to its executive team this week.
On Monday, the company confirmed the departure of Stephen Dale, M.D., who served as the Chief Medical (TASE:PMCN) Officer, effective immediately following his resignation on Sunday due to personal health challenges.
In conjunction with Dr. Dale's departure, Kura Oncology has entered into a settlement agreement which includes an 18-month base salary continuation and the payment of his 2024 annual cash bonus. Furthermore, Dr. Dale will have an extended period, until March 31, 2026, to exercise his vested stock options, as per the terms of the agreement and subject to the conditions of the company’s equity incentive plan.
Simultaneously, Kura Oncology has appointed new executives to its leadership team. Mollie Leoni, M.D. has been named the new Chief Medical Officer, and Francis Burrows, Ph.D. will take the role of Chief Scientific Officer, both appointments effective as of Sunday.
The details of the settlement with Dr. Dale will be provided in the company's forthcoming Annual Report on Form 10-K for the fiscal year ending December 31, 2024. This executive reshuffling and the associated compensatory arrangements were disclosed in a Form 8-K filed by Kura Oncology with the Securities and Exchange Commission, confirming the company's commitment to transparency and regulatory compliance.
This leadership transition comes at a crucial time for Kura Oncology as it continues to advance its pipeline of targeted cancer therapies. The company, headquartered in San Diego, California, is known for its focus on developing treatments that address the underlying genetic drivers of cancer.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.