On 07 Dec 18, Curis, Inc.’s (NASDAQ: CRIS) shares price traded between $0.7300 and $0.7947 during the last trading session above/below with +0.55% at $0.7511. The shares recorded a trading volume 686,291 shares as compared to its average volume of 289,685 shares. The company has 33.11M shares outstanding and market value of 24.87M. Over the one year trading period, the stock has a peak price of $5.2000 and its down is recorded at $0.7300.
Curis, Inc. (CRIS) recently stated financial results for the third quarter ended September 30, 2018.
Third Quarter 2018 Financial Results
Curis stated a net loss of $7.2M, or $0.22 per share on a basic and diluted basis for the third quarter of 2018, as contrast to a net loss of $15.5M, or $0.53 per share respectively for the same period in 2017.
Revenues for the third quarter of 2018 were $2.8M, as contrast to $2.4M for the same period in 2017. Revenues for both periods comprise primarily royalty revenues recorded on Genentech and Roche’s net sales of Erivedge®.
Operating expenses were $9.3M for the third quarter of 2018, as contrast to $16.9M for the same period in 2017, and comprised the following:
Costs of Royalty Revenues. Costs of royalty revenues, resulting from payments to third-party university patent licensors associated with Genentech and Roche’s Erivedge net sales, were $0.2M as contrast to $0.1M for the same period in 2017.
Research and Development Expenses. Research and development expenses were $5.0M, as contrast to $13.4M for the same period in 2017. The decrease was primarily driven by reduced costs related to clinical activities and manufacturing for fimepinostat, CA-170 and CA-4948 and a payment to Aurigene of $3.8M for an exclusivity option in September 2017.
General and Administrative Expenses. General and administrative expenses were $4.1M as contrast to $3.4M for the same period in 2017. The raise in general and administrative expenses was primarily driven by higher personnel costs and professional and consulting services partially offset by lower stock-based compensation for the period.
Other Expenses. Net other expenses totaled $0.8M as contrast to $1.0M for the same period in 2017. Net other expense primarily consisted of interest expense related to Curis Royalty’s (a wholly owned subsidiary of Curis) debt obligations.
As of September 30, 2018, Curis’s cash, cash equivalents and investments totaled $30.8M and there were about 33.1M shares of ordinary stock outstanding.
2019 Data Catalysts
- Curis expects to commence enrollment in a combination study evaluating a fimepinostat and venetoclax regimen in patients with R/R DLBCL, including patients with DH/DE Lymphoma, in the first half of 2019 and report initial data in the second half of 2019.
- Curis expects to report initial data from an ongoing dose escalation study evaluating CA-4948 in patients with R/R DLBCL and WM, including patients with MYD88-altered disease, by mid-year 2019.
- Curis expects to commence enrollment in a clinical study evaluating CA-170 in patients with mesothelioma (high VISTA expressors) in the first half of 2019 and report initial data in the second half of 2019.
The short ratio in the company’s stock is documented at 4.41 and the short float is around of 4.72%. The average true range of the stock is observed at 0.11 and the relative strength index of the stock is recorded at 21.20.