ZURA · Zura Bio Limited

📣 What ZURA Says Is Next

• Q4 2026 · “Mease et al. N Engl J Med. 2015 (FUTURE 1). 6 Three shots on goal — biologically de-risked, independent, and fully funded through topline data readouts A Phase 2 trial in adults with HS Anticipated readout: Q4 2026 A Phase 2 trial in adults with SSc Anticipated readout: H1 2027 A Phase 2 trial in adults with PMR Anticipated initiation: YE 2026 7 Tibulizumab: Potential first- and only-in-class therapy Tibulizumab is an investigational agent.”
  Company press release, Aug 17, 2026 · SEC filing
• Q4 2026 · “Topline data expected from HS and SSc Phase 2 studies in Q4 2026 and H1 2027, respectively”
  Company press release, Aug 17, 2026 · SEC filing
• by year end 2026 · “Incorporating this feedback, Zura plans to initiate a Phase 2 study, NEXUS-PMR, evaluating tibulizumab in adult participants with PMR by year end 2026.”
  Company press release, Aug 11, 2026 · SEC filing

Quoted word for word from the company's press releases filed with the SEC. Timing is the company's own guidance, not a BioRadar estimate.

🧪 Trial & FDA Catalysts

• Nov 2026 · Phase 2 · Active Trial · Tibulizumab Skin Healing and Inflammation Evaluation for Lasting Defense
  Registry primary completion date, not a results date
• May 2027 · Phase 2 · Active Trial · Tibulizumab Systemic Sclerosis Understanding and Response Evaluation (TibuSURE)
  Registry primary completion date, not a results date

📊 Drug Pipeline

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

ZURA holds $205.1M in cash and short-term investments (as of Jun 30, 2026) and burns about $19,912/quarter from operations, an estimated runway of 30906.1 months at that rate (BioRadar estimate, not company guidance).

Dilution pressure: 24 · Moderate

• Cash runway not available
• ATM program on file since Sep 2024 +15
• Shelf registration (S-3, Sep 2024) +10
• Company says cash lasts through at least the end of 2028 -15Based on our current business plans, we believe that our existing cash and cash equivalents should be sufficient to fund our operating expenses and capital requirements through at least the end of 2028. 10-Q, Aug 2026
• Share count +47% in a year +14

Recent financing filings on SEC EDGAR:

• Feb 25, 2026 · Underwritten offering · 424B5
• Feb 24, 2026 · Underwritten offering · 424B5
• Jan 2, 2026 · Private placement (8-K Item 3.02) · 8-K
• Apr 17, 2025 · Private placement (8-K Item 3.02) · 8-K
• Sep 3, 2024 · Shelf registration with ATM program, up to $125M · S-3
• Aug 21, 2024 · Private placement (8-K Item 3.02) · 8-K

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when ZURA files for a raise →

👥 Who Owns ZURA

Share count 95,829,137 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the total held by all 13F filers (Yahoo Finance); the table lists the largest (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.