Kineta, Inc. (KA)

Kineta was a clinical-stage biotechnology company working on immuno-oncology therapies intended to help the immune system fight cancer. Its lead program was KVA12123, an antibody aimed at the VISTA immune checkpoint, which it tested in the VISTA-101 trial in patients with advanced solid tumors. The company also held earlier-stage assets and research partnerships in immunology and neuroscience. Like many small drug developers, it relied on outside financing and partnering income to fund its research.

The company reached the public market through a reverse merger with Yumanity Therapeutics, a Nasdaq-listed neuroscience company, completed in December 2022. After the deal the combined company took the Kineta name and began trading on Nasdaq under the symbol KA. Kineta's leadership then concentrated resources on the VISTA program. The stock, however, traded at low levels as funding conditions for small biotech companies tightened.

In February 2024 Kineta restructured, cut staff, paused new enrollment in VISTA-101 and began exploring strategic alternatives. In July 2024 it signed an agreement with TuHURA Biosciences that gave TuHURA exclusivity and a right of first offer on KVA12123 in exchange for a $5 million nonrefundable payment. Nasdaq then moved to delist the shares because the company no longer met the $1.00 minimum bid price and the $2.5 million stockholders' equity requirement.

Trading moved to the OTC Pink market under the symbol KANT on September 19, 2024. TuHURA ultimately agreed to acquire the whole company, and the merger closed on June 30, 2025. Each Kineta share was converted into 0.185298 shares of TuHURA common stock, along with contingent rights to additional TuHURA shares and to cash from legacy assets. Kineta became a wholly owned TuHURA subsidiary and its stock stopped trading.