This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Curis Reports Third Quarter 2013 Financial Results And Provides CUDC-427 Development Update

During the third quarter of 2013, the Company received $9.6 million in net proceeds relating to the sale to the public of 2.29 million shares of its common stock pursuant to its July 2013 at-the-market sales agreement with Cowen and Company, LLC. In addition, the Company received an additional $6.8 million in net proceeds through the sale of an additional 1.56 million shares, which settled in early October. 

"Our financial position continues to be strong, with expected cash, cash equivalents and investments at year-end of between $67 and $70 million, which we believe will provide us with adequate capital to fund our planned operations into 2016," commented Michael Gray, Chief Business and Chief Financial Officer of Curis. "We were pleased that Erivedge royalty revenues increased by over 30% sequentially, and look forward to investing further in our developing pipeline."

Recent Operational Highlights

  • Genentech/Roche initiated a Phase 1b/2 study of Erivedge to investigate the safety and efficacy of the drug in patients with relapsed/ refractory AML and relapsed or refractory high-risk MDS.  
  • The European Commission granted conditional approval to Erivedge for the treatment of adult patients with symptomatic metastatic basal cell carcinoma (BCC) or locally advanced BCC inappropriate for surgery or radiotherapy. This regulatory decision is applicable to all 28 member states of the European Union. Erivedge is being commercialized and developed by Genentech/Roche under a collaboration agreement between Curis and Genentech/Roche.  Curis earned a $6 million milestone payment from Genentech/Roche upon the conditional approval of Erivedge.

Debio 0932
  • Debiopharm initiated an open-label, multicenter Phase 1 dose-finding study of Debio 0932 in combination with everolimus, in patients who have been previously treated with a VEGF-directed tyrosine kinase inhibitor.

  • Curis appointed Jaye Viner, M.D., M.P.H as Chief Medical Officer and Executive Vice President. Dr. Viner will be responsible for the leadership of Curis' clinical development strategy and efforts to further the development of its pipeline of proprietary drug candidates. Curis also appointed Tania Chander, Pharm.D. as Vice President of Product Development. Dr. Chander will be responsible for project leadership throughout the product development process.

Upcoming Activities

Curis expects to present at the following investor and medical conferences through December 2013:
  • 2013 RBC Capital Markets' Healthcare Investor Day on November 21, 2013 in Denver
  • Brean Capital 2013 Life Sciences Summit on November 25, 2013 in New York City
  • 2013 Deutsche Bank BioFEST on December 2-3, 2013 in Boston
  • Piper Jaffray 25th Annual Healthcare Conference on December 3-4, 2013 in New York City
  • 55 th American Society of Hematology (ASH) Annual Meeting and Exposition on December 7-10, 2013 in New Orleans
  • Oppenheimer 24 th Annual Healthcare Conference on December 10-11, 2013 in New York City

Conference Call Information

Curis management will host a conference call today, November 6, 2013, at 8:30 a.m. ET, to discuss Curis' financial results for the third quarter as well as provide a corporate update.

6 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs