Barely 2 weeks ago, Mural Oncology(MURA) announced it would be winding down operations, and likely returning any remaining cash to shareholders. We estimated that the value to shareholders of the 2023 Alkermes(ALKS) spinoff would be slightly less than $2, a disappointing outcome, but at least not a total loss. Today, Mural announced it had agreed to be acquired… Read More »
In November 2023, Alkermes plc (ALKS) spun off its oncology division into a new company: Mural Oncology plc (MURA). Armed with $275 million in cash, no debt, and a clean slate, the company was designed as a single-focus biotech aimed at bringing nemvaleukin alfa, an engineered IL-2 cytokine, through late-stage development. Less than two years later, the… Read More »
With a goal of becoming “a pure-play, profitable neuroscience company”, on November 15, Alkermes(ALKS) spun off its oncology business as Mural Oncology(MURA). In the tax free spinoff, Alkermes shareholders as of November 6 received one share of Mural for every ten shares owned. According to BioPharma Dive, the $275 million in cash that Mural has to start with… Read More »