Mural Oncology in the spotlight

Deep dive on $MURA financials and market timing

Mural Oncology ($MURA) is a recent spinout from Alkermes’ ($ALKS) oncology division. MURA trades at a 78% discount (!) to its cash balance. It has $275M in cash and 16.7M shares outstanding (16.50/share in cash). No debt. No convertible instruments. Market price is currently $3.75/share. $MURA will burn approximately $200M on IL-2 trials, including a Ph…