(Updates)
** Kura Oncology's shares slide 36.8% to $10.03, hit more than 11-month low of $9.68 earlier in the session
** Shares set to log worst single-day percentage decline if losses hold
** Co said late on Wednesday it will collaborate with Japan's Kyowa Kirin to develop and commercialize blood cancer therapy drug ziftomenib
** The collaboration "likely detracts from the near-term potential takeout narrative, which certainly has been something some investors had been articulating," Mizuho analysts say
** Kura will lead the development of the drug, being evaluated for treating acute myeloid leukemia, a blood and bone marrow cancer
** Cos will jointly undertake commercialization and will equally share potential profits and losses, Kura said
** Kura to get upfront payment of $330 mln and up to $1.2 bln in total milestone payments as part of deal
** At least 4 brokerages cut PT
** Including session's move, stock down 30.5% YTD
(Reporting by Sukriti Gupta in Bengaluru)
((Sukriti.Gupta@thomsonreuters.com;))
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