Curis Q2 2022 Earnings Report
Key Takeaways
Curis reported a net loss of $15.9 million, or $0.17 per share, for the second quarter of 2022. The company's cash, cash equivalents, and investments totaled $107.2 million as of June 30, 2022, which is expected to fund operations into 2024. The company also presented encouraging clinical data for emavusertib in combination with ibrutinib.
Presented encouraging clinical data for emavusertib plus ibrutinib showing tumor reduction in 8 of 9 evaluable patients.
Appointed Diantha Duvall as Chief Financial Officer.
Reported cash and investments of $107.2 million as of June 30, 2022, providing a cash runway into 2024.
Reported data from the TakeAim Leukemia study at ASCO and EHA during the second quarter showing encouraging rates of response in three separate targeted patient populations
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Curis Revenue by Segment
Forward Guidance
Curis plans to report data from the TakeAim Leukemia study and the CI-8993 study, as well as host annual symposia.
Positive Outlook
- Report data from the TakeAim Leukemia study
- Present an update with additional monotherapy data
- Present initial data for the study of emavusertib in combination with azacitadine or venetoclax
- Report data from the CI-8993 (VISTA checkpoint inhibitor) study
- Present an update with additional monotherapy data
Challenges Ahead
- The FDA may not remove the partial clinical hold on the Phase 1/2 TakeAim Leukemia trial or the partial clinical hold on the Phase 1/2 TakeAim Lymphoma trial, or may take further regulatory action with regard to such trials
- Curis may experience adverse results, delays and/or failures in its drug development programs and may not be able to successfully advance the development of its drug candidates in the time frames it projects, if at all.
- Curis’s drug candidates may cause unexpected toxicities, fail to demonstrate sufficient safety and efficacy in clinical studies and/or may never achieve the requisite regulatory approvals needed for commercialization.
- Favorable results seen in preclinical studies and early clinical trials of Curis’s drug candidates may not be replicated in later trials.
- Curis will require substantial additional capital to fund its business. If it is not able to obtain sufficient funding, it will be forced to delay, reduce in scope or eliminate some of its research and development programs, including related clinical trials and operating expenses