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Curis reports positive emavusertib trial outcomes, extends cash runway

2024.02.08 23:08


© Reuters.

LEXINGTON, Mass. – Curis, Inc. (NASDAQ: CRIS), a biotechnology firm specializing in most cancers remedies, has shared encouraging outcomes from its scientific trials of emavusertib, an IRAK4 inhibitor, on the sixty fifth American Society of Hematology Annual Meeting and Exposition (ASH). The firm introduced that in an ongoing research, 3 out of 5 sufferers with main central nervous system lymphoma (PCNSL) who had beforehand failed BTK inhibitor remedy achieved full response (CR) when handled with emavusertib.

The firm can also be increasing scientific websites for its TakeAim Lymphoma and TakeAim Leukemia research throughout the United States and Europe. In the TakeAim Leukemia research, 2 out of three sufferers with relapsed/refractory (R/R) acute myeloid leukemia (AML) with a FLT3 mutation achieved CR, and the third affected person reached a Morphological Leukemia Free State (MLFS) after receiving fewer than 3 prior strains of remedy.

Curis additionally reported a web loss for the fourth quarter ended December 31, 2023, at $11.7 million, or $2.03 per share, in comparison with a web lack of $11.3 million, or $2.35 per share, for a similar interval within the earlier 12 months. The firm’s revenues for the 12 months had been $10.0 million, primarily from royalty revenues associated to Genentech and Roche’s gross sales of Erivedge®. Research and improvement bills decreased because of decrease employee-related prices following a discount in headcount.

As of December 31, 2023, Curis’s cash, cash equivalents, and investments totaled $56.3 million. The firm expects that its present funds will permit it to proceed operations into 2025, making certain the continued improvement of emavusertib.

Curis administration is internet hosting a convention name in the present day at 8:30 a.m. ET to debate these updates and monetary outcomes.

Emavusertib is being examined in varied research, together with as a monotherapy for R/R AML and high-risk myelodysplastic syndrome (hrMDS) and together therapies for PCNSL and AML. The firm has acquired Orphan Drug Designation from the U.S. Food and Drug Administration for emavusertib in these indications.

This article is predicated on a press launch assertion from Curis, Inc.

InvestingPro Insights

As Curis, Inc. (NASDAQ: CRIS) continues to make strides within the improvement of emavusertib and its utility in treating varied cancers, the corporate’s monetary well being and market efficiency stay key components for buyers. With latest scientific successes, it is important to think about Curis’s monetary metrics and analyst insights to grasp the corporate’s potential totally.

InvestingPro information reveals that Curis has a market capitalization of $62.65 million, indicating its dimension throughout the biotech sector. Despite the corporate’s promising scientific trial outcomes, it reported a web loss and unfavourable gross revenue margins within the final twelve months as of Q3 2023, with a gross revenue margin of -325.7%. This underscores the challenges Curis faces in reaching profitability within the close to time period.

Furthermore, the corporate’s inventory worth has skilled vital volatility, as evidenced by a 3-month worth complete return of 69.41%, contrasted with a 1-month worth complete return of -22.32%. This volatility generally is a crucial consideration for buyers in search of stability of their portfolios.

Two InvestingPro Tips which are significantly related to Curis are:

  • The firm holds extra cash than debt on its stability sheet, which is a positive signal of monetary stability and will present some reassurance to buyers in regards to the firm’s skill to fund its operations.
  • Analysts have revised their earnings estimates upwards for the upcoming interval, suggesting that there could also be optimism in regards to the firm’s future monetary efficiency based mostly on latest developments.

For buyers in search of a deeper evaluation and extra suggestions, InvestingPro gives further insights. There are 11 extra InvestingPro Tips accessible for Curis, Inc., which could be accessed at InvestingPro’s Curis web page. To benefit from these insights, use coupon code “SFY24” to get an extra 10% off a 2-year InvestingPro+ subscription, or “SFY241” to get an extra 10% off a 1-year InvestingPro+ subscription.

The monetary metrics and analyst insights supplied by InvestingPro might help buyers make extra knowledgeable choices about their investments in Curis, Inc., particularly within the context of the corporate’s promising however expensive scientific developments.

This article was generated with the help of AI and reviewed by an editor. For extra info see our T&C.

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