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Jun 30, 2020
Curis Q2 2020 Earnings Report
Curis reported financial results for the second quarter ended June 30, 2020.
Key Takeaways
Curis reported a net loss of $6.7 million, or $0.17 per share, for the second quarter of 2020, compared to a net loss of $7.2 million, or $0.22 per share, for the same period in 2019. Revenues for the second quarter of 2020 were $2.4 million, compared to $2.1 million for the same period in 2019. The company's cash, cash equivalents, marketable securities and investments totaled $23.6 million as of June 30, 2020.
Advanced clinical pipeline and achieved key financial objectives.
Initiated a new Phase 1 study of CA-4948 in patients with relapsed or refractory AML and high-risk MDS.
Received FDA clearance for IND application for CI-8993 to initiate a Phase 1a/1b dose-escalation study in patients with solid tumors.
Completed a $17.5 million registered direct offering extending cash runway into the first half of 2021.
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CapyFin.com Forward Guidance
Curis expects that its existing cash, cash equivalents and investments should enable it to maintain its planned operations into the first half of 2021. This forecast does not include potential proceeds from the Company's stock purchase agreement with Aspire Capital or the Company's at-the-market facility with JonesTrading.
Positive Outlook
- Declare the recommended Phase 2 dose for CA-4948 in the ongoing lymphoma Phase 1 study and report updated efficacy data from the study by year-end 2020.
- Report initial data from the Phase 1 study of CA-4948 in patients with AML/MDS, including patients with spliceosome mutations that encode oncogenic IRAK4-L, by year-end 2020.
- Initiate Phase 1 study of CA-4948 in combination with ibrutinib in the second half of 2020.
- Initiate Phase 1a/1b dose escalation study of CI-8993 in patients with relapsed / refractory solid tumors in the second half of 2020.
- Report initial safety data from Phase 1a/1b dose escalation study of CI-8993 in patients with relapsed / refractory solid tumors by year-end 2020.