Zura Bio reports Q2 2024 net loss of $12.7M, cash of $188.4M; plans Phase 2 starts for tibulizumab

Zura Bio Ltd

2024-Q2 EPS reported -$0.22

Net loss of $12.7M ($0.17/share) vs $44.9M ($1.31/share) in Q2 2023; reduction driven by prior-year acquisition costs.
Cash, cash equivalents and investments of $188.4M as of June 30, 2024, including $112.5M from April private placement; sufficient through 2027.
Tibulizumab Phase 2 study in systemic sclerosis expected to start in Q4 2024; Phase 2 in hidradenitis suppurativa expected in Q2 2025.
CEO Robert Lisicki appointed in April 2024; founding CEO Dr. Someit Sidhu remains on Board.
R&D expenses were $5.5M in Q2 2024, down from $28.2M in Q2 2023 due to prior-year tibulizumab acquisition from Lilly.

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