To access the live conference call, please dial (877) 868-1829 from the U.S. or (253) 237-1135 from other locations, shortly before 9:00 a.m. ET. The conference ID number is 35916940. The conference call can also be accessed on the Curis website at in the Investors section. A replay will be available approximately two hours after the completion of the call through 12:00 p.m. ET, Tuesday, May 7, 2013. To access the replay, please dial (855) 859-2056 from the United States or (404) 537-3406 from other locations and reference conference ID number 35916940.

About Curis, Inc.

Curis is an oncology-focused company seeking to develop and commercialize next generation targeted drug candidates for cancer treatment. Erivedge ® is the first and only FDA-approved medicine for the treatment of advanced basal cell carcinoma and is being commercialized and developed by Roche and Genentech, a member of the Roche Group, under a collaboration agreement between Curis and Genentech. Curis is also developing its pipeline of proprietary targeted cancer drug candidates, including CUDC-907, a dual PI3K and HDAC inhibitor; CUDC-427, a small molecule antagonist of IAP proteins; and CUDC-101, an EGFR/HER2 and HDAC inhibitor. For more information, visit Curis' website at .

Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding the Company's potential positioning among oncology drug development companies; expectations regarding the Company's clinical development plans and expectations regarding Erivedge® sales and regulatory approvals. Forward-looking statements used in this press release may contain the words "believes," "expects," "anticipates," "plans," "seeks," "estimates," "assumes," "will", "may," "could" or similar expressions. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different from those indicated by such forward-looking statements. For example, Genentech and Roche may not ultimately demonstrate to the satisfaction of regulatory authorities outside the U.S. the safety and efficacy profile of Erivedge in the treatment of advanced BCC, in which case Erivedge may not be approved for marketing for the treatment of such indication in the respective territory. Genentech and Roche may experience delays or failures in the manufacture of Erivedge. Erivedge's benefit/risk profile may not be widely accepted by the medical community or third-party payors for the treatment of advanced BCC. Regulatory and administrative governmental authorities may determine to delay or restrict Genentech's and/or Roche's ability to continue to develop or commercialize Erivedge. Competing drugs may be developed that are superior to Erivedge. Curis may not achieve meaningful amounts of royalty revenue from sales of Erivedge and may not receive contingent payments from existing or new collaborators. Curis and its collaborators may experience adverse results, delays and/or failures in their drug development programs. Curis' drug candidates may cause unexpected toxicities and/or fail to demonstrate sufficient safety and efficacy in clinical trials and may never achieve the requisite regulatory approval needed for commercialization. Curis will require substantial additional capital to fund the research and development of its drug development programs. The proceeds of Curis' royalty-secured loan may not be sufficient to fund its near-term capital requirements for advancing programs. Curis may not obtain or maintain necessary patent protection for its programs and could become involved in expensive and time consuming patent litigation and interference proceedings. Curis faces substantial competition from other companies developing cancer therapeutics. Unstable market and economic conditions may adversely affect Curis' financial conditions and its ability to access capital to fund the growth of its business. Curis also faces other important risks relating to its business, operations, financial condition and future prospects that are discussed in its Annual Report on Form 10-K for the year ended December 31, 2012 and other filings that it periodically makes with the Securities and Exchange Commission. 

In addition, any forward-looking statements represent the views of Curis only as of today and should not be relied upon as representing Curis' views as of any subsequent date. Curis disclaims any intention or obligation to update any of the forward-looking statements after the date of this press release whether as a result of new information, future events or otherwise.
  Three months ended
  March 31,
  2013 2012
Operating expenses:    
Royalties  $ 664,400  $ 270,622
License Fees  -- 10,000,000
Research and development  207,035 85,630
Operating expenses: 871,435 10,356,252
Operating expenses:    
Cost of royalty revenues 33,220 113,531
Research and development  2,628,457 5,241,949
General and administrative  2,567,122 2,801,077
Total operating expenses 5,228,799 8,156,557
Net loss from operations (4,357,364) 2,199,695
Other (expense) income, net (604,930) 26,042
Net (loss) income   $ (4,962,294)  $ 2,225,737
Basic and diluted net (loss)/income per common share  $ (0.06)  $ 0.03
Basic weighted average common shares outstanding 80,096,650 77,556,366
Diluted weighted average common shares outstanding  80,096,650 83,336,695
  March 31, December 31,
  2013 2012
Cash, cash equivalents and investments $54,189,529 $58,701,423
Investments – restricted 180,364 194,282
Accounts receivable 764,429 908,064
Property and equipment, net 434,967 434,168
Goodwill 8,982,000 8,982,000
Other assets 541,154 548,412
Total assets $65,092,443 $69,768,349
Accounts payable, accrued expenses and other liabilities  3,520,348 4,173,747
Debt obligations, net  30,137,128 29,838,925
Warrant liability 1,186,919 1,488,179
Total liabilities 34,844,395 35,500,851
Total stockholders' equity 30,248,048 34,267,498
Total liabilities and stockholders' equity  $65,092,443 $69,768,349
CONTACT: For More Information:         Michael P. Gray         Chief Financial Officer         Curis, Inc.         617-503-6632

Curis, Inc. Logo

If you liked this article you might like

Biotech Premarket Movers: Spectrum, BioCryst, Curis

7 Stocks Under $10 Making Big Up Moves

Curis (CRIS) Is Strong On High Volume Today

Curis (CRIS) Is Strong On High Volume Today