Mural Oncology plc (NASDAQ:MURA; MURAV when issued) is an Ireland-based clinical-stage immuno-oncology company that leverages protein engineering and expertise in cytokine biology and immune cell modulation to develop cytokine-based immunotherapies for difficult-to-treat cancers, including mucosal melanoma, cutaneous melanoma, platinum-resistant ovarian cancer, and advanced solid tumors. Founded in 2017 as a spinout from Alkermes plc with initial committed funding of $275 million, the company is headquartered at 10 Earlsfort Terrace, Dublin, D02 T380, Ireland, with U.S. operations in Waltham, Massachusetts. Its lead product candidate, nemvaleukin alfa, is an investigational engineered interleukin-2 (IL-2) cytokine fusion protein designed to selectively activate the intermediate-affinity IL-2 receptor, preferentially expanding antitumor CD8+ T cells and natural killer cells while minimizing regulatory T cells and mitigating toxicities associated with high-dose recombinant human IL-2; nemvaleukin has been evaluated in multiple trials including the phase 3 ARTISTRY-7 study in combination with pembrolizumab for platinum-resistant ovarian cancer, phase 2 ARTISTRY-6 in mucosal and cutaneous melanoma, and ARTISTRY-3 in advanced solid tumors with less-frequent intravenous dosing. The company is also advancing preclinical programs, including engineered interleukin-18 (IL-18) therapies such as MURA-8518, a novel binding protein-resistant IL-18 with half-life extension for which an IND or CTA submission is planned in Q4 2025 or first half of 2026, and tumor-targeted interleukin-12 (IL-12) programs such as MURA-7012 comprising split IL-12 subunits that self-assemble preferentially at tumor sites to limit systemic exposure. In recent developments, Mural discontinued all clinical development of nemvaleukin in April 2025 following disappointing overall survival data from interim analyses of ARTISTRY-7 and phase 2 ARTISTRY-6, accompanied by a 90% workforce reduction and exploration of strategic alternatives to maximize shareholder value; in August 2025, the company entered a definitive agreement to be acquired by XRA 5 Corp., a wholly owned subsidiary of XOMA Royalty Corporation (NASDAQ:XOMA), for $2.035 per share in cash, with the transaction expected to close in early December 2025 subject to Irish High Court sanction and other closing conditions.