Free cash flow remains deeply negative, with quarterly outflows reaching $11.1M in 2025Q3, highlighting an accelerating burn rate that threatens the firm's $6.3M cash position as of 2026Q1.
| Cash from Operations | -27.3M | -27.63M | -14.73M | -7.18M | -7.51M | -6.56M | -18.86M | -7.93M | -6.33M | -9.85M | -8.02M | -5.15M | -3.85M |
| Operating CF Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating CF Growth % | -593.76% | -87.59% | -105.24% | 4.43% | -14.4% | 65.2% | -137.89% | -25.3% | 35.77% | -22.84% | -55.84% | -33.55% | - |
| Net Income | -30.93M | -30.05M | -21.68M | -29.32M | -9.37M | -7.02M | -38.3M | -9.13M | -8.05M | -11.14M | -8.08M | -8.86M | -4.35M |
| Depreciation & Amortization | 80.68K | 71.27K | 116.71K | 177.38K | 373.09K | 380.69K | 32K | 10K | 16.35K | 24.53K | 16.68K | 10.29K | 0 |
| Stock-Based Compensation | 5M | 6.42M | 1.96M | 478.89K | 218.28K | 654.53K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.87M | -924.5K | 1.59M | 21M | -294.07K | -527.06K | 22.06M | 701K | 569.65K | 685.42K | 524.39K | 3.83M | -31.85K |
| Working Capital Changes | -3.33M | -3.15M | 3.29M | 486.92K | 1.56M | -55K | -2.65M | 487K | 1.13M | 577.51K | -478.38K | -117.29K | 526.55K |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.79K | 13.33K | 37.08K | -58.21K | 7.44K | -16.26K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 452.01K | 0 | 0 | 0 | 0 | 0 | -67K | 207K | 202K | 295.77K | 0 | 0 | 0 |
| Cash from Investing | -233.16K | -1.34M | -6.05M | -1.3M | -36.28K | -3.28K | 964K | 0 | 0 | -12.65K | -20.96K | -16.76K | 0 |
| Capital Expenditures | -82.26K | -76.08K | -57.91K | -79.22K | -36.28K | -3.28K | -8K | 0 | 0 | -12.65K | -20.96K | -16.76K | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | 0 | -1.26M | -5.99M | -1.22M | 0 | 0 | 972K | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -150.9K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 27.62M | 19.93M | 29.77M | 2.66M | 16.25M | 7.04M | 26.04M | 6.6M | 4.07M | 9.25M | 8.47M | 9.57M | 847.79K |
| Debt Issued (Net) | 408.78K | 616.98K | 28.57M | 2.69M | -350K | 294.07K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 22.86M | 21.92M | 5M | -24.75K | 16.6M | 6.75M | 26.08M | 6.63M | 4.08M | 9.26M | 8.48M | 9.57M | 1.4M |
| Dividends Paid | -8.36K | -8.36K | 0 | 0 | 0 | -8K | -8K | -8K | -8.36K | -8.36K | -8.36K | -8.36K | -6.27K |
| Share Repurchases | 0 | 0 | 0 | -24.75K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 4.36M | -2.61M | -3.8M | 0 | 0 | 8K | -30K | -25K | 0 | 0 | 0 | 0 | -550.12K |
| Net Change in Cash | 78.3K | -9.04M | 8.99M | -10.59M | 8.71M | 477.91K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -27.39M | -27.71M | -14.79M | -12.03M | -7.54M | -6.57M | -18.87M | -7.93M | -6.33M | 0 | -8.02M | -5.15M | 0 |
| FCF Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - |
| FCF Growth % | -108.65% | -87.37% | -22.91% | -59.45% | -14.89% | 65.2% | -137.99% | -25.3% | - | 100% | -55.84% | - | - |
| FCF per Share | -0.46 | -0.58 | -0.79 | -15.98 | -163.00 | -235.96 | -1275.64 | -1328.42 | -4301.44 | - | -11648.77 | -8225.04 | - |
| FCF Conversion (FCF/Net Income) | 0.89x | 0.92x | 0.68x | 0.86x | 0.51x | 0.29x | 0.49x | 0.87x | 0.79x | 0.88x | 0.99x | 0.58x | 0.89x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, TuHURA's operating cash flow consistently trails net losses, with the OCF/NI ratio fluctuating significantly, reaching a high of 1.56 in 2025Q3, which suggests that non-cash adjustments and working capital swings are currently the primary drivers of the company's reported cash position.
The persistent gap between net income and operating cash flow highlights the lack of core operational earnings to support the company's clinical development. Investors should monitor this divergence, as it indicates that the company's cash burn is not merely a function of accounting losses but a reflection of actual cash-based expenditures required to sustain its R&D pipeline.
Based on recent SEC filings, the company's free cash flow remains deeply negative, with quarterly outflows reaching $11.1M in 2025Q3, underscoring a trajectory of accelerating cash consumption that is typical for a firm transitioning into late-stage clinical trials without an established revenue base to offset costs.
The absence of positive free cash flow margins suggests that the company is entirely reliant on external financing to fund its operations. This trajectory warrants further investigation into how long the current cash runway can support the Phase 3 registration trial before additional capital is required.
According to the company's reported figures, working capital changes have been highly erratic, swinging from a $6.0M outflow in 2025Q3 to a $2.1M inflow in 2024Q4, which may indicate inconsistent timing in vendor payments or the settlement of liabilities related to the recent merger.
Such volatility in working capital suggests that the company's cash management is highly sensitive to the timing of clinical trial milestones and administrative obligations. This instability may complicate cash flow forecasting and indicates that the company lacks the working capital efficiency seen in more mature, revenue-generating peers.
As disclosed in financial statements, the company's cash flow statement obscures the true operational burn rate by including significant stock-based compensation and merger-related adjustments, which totaled $2.0M in 2025Q4, effectively masking the underlying cash requirements of the firm's ongoing Phase 3 clinical trial activities.
The reliance on non-cash adjustments to reconcile net income to operating cash flow suggests that the reported burn rate may understate the actual cash needed to maintain operations. Investors should be wary of these adjustments, as they may distract from the reality that the company is consuming cash at a rate that necessitates frequent capital market intervention.
Quick answers to the most common questions about buying HURA stock.
TuHURA Biosciences, Inc. (HURA) generated $-27.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
TuHURA Biosciences, Inc. (HURA) reported negative free cash flow of $27.7M in 2025, indicating capital requirements exceeded cash from operations.
TuHURA Biosciences, Inc. (HURA) spent $0.1M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, TuHURA Biosciences, Inc. (HURA) returned $0.0M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.