ZURA — what changed in the latest 10-Q
A section-by-section comparison of ZURA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-27 vs the prior 10-Q · 2026-08-11
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +12 | −7 | ~38 | 69 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +1 | 0 | ~3 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-27
Comparison of the Three Months Ended September 30, 2026 and 2025
•a $2.3 million increase in compensation, including share-based compensation, primarily driven by increased personnel in research and development functions;
•a $2.2 million increase for initiation costs related to evaluating tibulizumab in adults with PMR; and
•a $0.9 million increase in costs as we continue execution of our Phase 2 clinical trials evaluating tibulizumab in adults with HS and SSc, driven by costs incurred for CRO fees to support the conduct of our clinical trials.
Other expense, net was consistent for the three months ended September 30, 2026 as compared to the three months ended September 30, 2025.
Text removed vs the prior filing · source: 10-Q · 2026-08-11
•a $2.7 million and $2.8 million increase in costs as we advance our Phase 2 clinical trials evaluating tibulizumab in adults with HS and SSc, respectively, driven by costs incurred for CRO fees to support the conduct of our clinical trials; and
•a $2.1 million increase in compensation, including share-based compensation, primarily driven by increased personnel in research and development functions.
Other income, net increased by $0.7 million for the three months ended June 30, 2026 as compared to the three months ended June 30, 2025, primarily due to the receipt of an R&D Credit during the three months ended June 30, 2026.
In July 2023, we entered into a cell line license agreement (the “Cell Line License Agreement”) with WuXi Biologics and its Affiliates (“WuXi Biologics”) for certain of WuXi Biologics’ know-how, cell line, and biological materials (the “WuXi Biologics Licensed Technology”) to manufacture, have manuf…
Management’s discussion and analysis of our financial condition and results of operations is based on our unaudited condensed consolidated financial statements, which have been prepared in accordance with U.S. GAAP, and on a basis consistent with those accounting principles followed by us and disclo…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-10-27
policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice