Curis Q4 2019 Earnings Report
Key Takeaways
Curis reported a net loss of $8.6 million for the fourth quarter of 2019, compared to a net loss of $5.9 million for the same period in 2018. Revenues for the fourth quarter of 2019 were $3.3 million, compared to $2.8 million for the same period in 2018. The company is prioritizing resources for CA-4948 and CI-8993 clinical development programs and discontinuing the fimepinostat-venetoclax combination study.
Curis reported a net loss of $8.6 million, or $0.26 per share, for Q4 2019.
Revenues for Q4 2019 were $3.3 million, primarily from royalty revenues on Erivedge.
The company discontinued its Phase 1 study of fimepinostat in combination with venetoclax.
Curis is prioritizing resources for the clinical development programs of CA-4948 and CI-8993.
Curis
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Curis Revenue by Segment
Forward Guidance
Curis plans to continue dose escalation of CA-4948 and report updated efficacy data in 2020, initiate a Phase 1 trial of CA-4948 in AML and MDS in the first half of 2020, and initiate a Phase 1a/1b study of CI-8993 in the second half of 2020. The company expects its existing cash, cash equivalents, and investments should enable it to maintain its planned operations into the second half of 2020.
Positive Outlook
- Continue dose escalation of CA-4948 in the ongoing Phase 1 study to determine the recommended Phase 2 dose.
- Report updated efficacy data from the CA-4948 study in 2020.
- Initiate a Phase 1 study of CA-4948 in patients with acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS) in the first half of 2020.
- Initiate a Phase 1a/1b dose escalation study of CI-8993 in the second half of 2020.
- Existing cash, cash equivalents, and investments should enable Curis to maintain its planned operations into the second half of 2020.
Challenges Ahead
- Curis may experience adverse results, delays and/or failures in its drug development programs.
- 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.
- Curis will require substantial additional capital to fund its business.
- Curis faces substantial competition.
- Unstable market and economic conditions, natural disasters, public health crises, political crises and other events outside of Curis's control could significantly disrupt its operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income