(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;))