Curis Inc (CRIS) Q4 2024 Earnings Call Highlights: Financial Improvements and Promising ...

• Net Loss (Q4 2024): $9.6 million or $1.25 per share.
• Net Loss (Q4 2023): $117 million or $2.03 per share.
• Net Loss (FY 2024): $43.4 million or $6.88 per share.
• Net Loss (FY 2023): $47.4 million or $8.96 per share.
• Research and Development Expenses (Q4 2024): $9 million.
• Research and Development Expenses (Q4 2023): $10 million.
• Research and Development Expenses (FY 2024): $38.6 million.
• Research and Development Expenses (FY 2023): $39.5 million.
• General and Administrative Expenses (Q4 2024): $3.4 million.
• General and Administrative Expenses (Q4 2023): $4.9 million.
• General and Administrative Expenses (FY 2024): $16.8 million.
• General and Administrative Expenses (FY 2023): $18.6 million.
• Net Proceeds from October Offering: Approximately $10.8 million.
• Gross Proceeds from March Offering: Approximately $10 million.
• Cash Runway: Extended into the fourth quarter of 2025.

• Warning! GuruFocus has detected 5 Warning Signs with CRIS.

Release Date: March 31, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Curis Inc (NASDAQ:CRIS) received encouraging feedback from the EMA and FDA on the potential for conditional marketing authorization in Europe and accelerated approval in the US for their TakeAim lymphoma study.
• The TakeAim lymphoma study is now considered registrational for both the US and Europe, accelerating the development timeline for emavusertib.
• Emavusertib has been granted orphan drug designation for primary CNS lymphoma in both the US and Europe.
• The clinical data for emavusertib in combination with ibrutinib showed promising results, with significant tumor burden reduction and objective responses in both BTKi-experienced and BTKi-naive PCNSL patients.
• Curis Inc (NASDAQ:CRIS) reported a decrease in net loss and reduced R&D and G&A expenses compared to the previous year, indicating improved financial management.

Negative Points

• Curis Inc (NASDAQ:CRIS) reported a net loss of $9.6 million for the fourth quarter of 2024, highlighting ongoing financial challenges.
• The company continues to face risks and uncertainties related to forward-looking statements and actual results may differ materially.
• The cash runway has been extended only until the fourth quarter of 2025, indicating potential future funding needs.
• There is uncertainty regarding the number of patients needed to meet FDA requirements for individual component contributions in the emavusertib study.
• The company is still in the early stages of discussions with potential partners, indicating that strategic partnerships are not yet secured.

Q & A Highlights

Q: Can you discuss Curis' cash runway and any expected changes in expenses? A: Diantha Duvall, Chief Financial Officer, stated that Curis' cash burn remains approximately $10 million per quarter. Recent offerings have extended the cash runway from mid-2024 to the fourth quarter of 2025.

Q: Is there any potential interest from partners for Curis' programs? A: James Dentzer, President and CEO, mentioned that Curis is on the radar of potential partners due to the promising results in NHL and AML. Discussions are ongoing, and a partnership with a major player in these spaces is anticipated.

Q: How many PCNSL patients have been dosed with emavusertib, and what are the steps to meet FDA requirements? A: Jonathan Zung, Chief Development Officer, reported that 13 patients have been dosed at 100 milligrams. The US and Europe will use similar data, and dose selection will be based on results from 9 patients dosed at 100 and 200 milligrams.

Q: What response rate does the EMA expect for emavusertib in PCNSL? A: James Dentzer explained that both the EMA and FDA are supportive due to the lack of approved treatments. A response rate north of 25% would be favorable, given the compelling data seen so far.

Q: What are the expectations for leukemia studies and data release this year? A: James Dentzer indicated that the focus is on the triplet study and a potential monotherapy study in FLT3. The triplet study aims to establish safety and efficacy, while the monotherapy study could position emavusertib as a best-in-class FLT3 drug.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.