(CRIS - Get Report)
is a drug discovery and development company engaged in developing cancer therapies. The company's advanced program is Hedgehog pathway inhibitor under collaboration with Genentech, a wholly owned member of the Roche Group.
All the nine analysts covering the stock recommend a buy on it. Its average 12-month price target is $6.07, up 33.1% from the current price, as per a
For the 2011 third quarter, Curis reported revenue of $0.1 million, down from $3.2 million during the 2010 period. This decrease is attributable to $3.0 million in license fee revenue, which was recorded in the 2010 third quarter, subsequent to a major payment the company received from Debiopharm during the quarter. Operating expense was maintained at $5.0 million. Net loss stood at $4.2 million, or 5 cents per share, vs. net loss of $1.5 million, or 2 cents per share, for the same period prior year.
Curis recently said that its collaborator Roche has submitted a Marketing Authorization Application (MAA) for Vismodegib (GDC-0449, RG3616) to the European Medicines Agency (EMA). During November, Curis entered into an agreement, wherein The Leukemia & Lymphoma Society (LLS) will support the company's ongoing development of its oral small molecule dual Pi3K and HDAC inhibitor CUDC-907 targeting patients with B-cell lymphoma and multiple myeloma.
Going forward, the company expects to initiate a Phase I clinical trial for an oral formulation of CUDC-101 and also a Phase I trial for new development candidate CUDC-907, a PI3K and HDAC inhibitor, during the first half of 2012. Debiopharm, the company's licensee for its Hsp90 inhibitor Debio 0932, has indicated that it plans to initiate Phase Ib studies of Debio 0932 in the near term.