Why MURA Stock Goes Parabolic Today

Mural Oncology, a biotech company working on cancer treatments, just announced it’s stopping all work on its main drug, nemvaleukin alfa, after it didn’t perform well in key clinical trials. This news hit the company hard—its stock dropped to $1.03, down 75% over the last year, and is now just above its lowest point of $0.95. At the time of writing MURA shares are priced at $2.04.

The decision came after Phase 2 and Phase 3 trials, including ones called ARTISTRY-6 (for melanoma) and ARTISTRY-7 (for a type of ovarian cancer), didn’t meet their main goals. Because of this, Mural is rethinking its future. While they still have about $144.4 million in cash, they’re spending it quickly. To manage this, they’ve brought on Lucid Capital Markets to help figure out next steps, and they plan to cut around 90% of their staff.

Even though things look rough, the company still has some financial strengths—like a solid current ratio of 5.84 and low debt at just $8.02 million. They’re exploring options to improve shareholder value, which might include selling the company or merging with another. However, they’re not in talks with buyers right now, partly due to Irish Takeover Rules, which impact how they can move forward.