Curis(US:CRIS)2025-11-06 21:01Financial Performance - Curis reported a net loss of $7.7 million or $0.49 per share for Q3 2025, an improvement from a net loss of $10.1 million or $1.70 per share in Q3 2024[12]. - Revenues for Q3 2025 were $3.2 million, up from $2.9 million in Q3 2024, with total revenues of $8.3 million for the nine months ended September 30, 2025, compared to $7.6 million for the same period in 2024[13]. - Curis reported net revenues of $3,176,000 for the three months ended September 30, 2025, an increase of 8.4% compared to $2,931,000 for the same period in 2024[26]. - Total operating expenses for the three months ended September 30, 2025, were $10,100,000, down 25.3% from $13,498,000 in the same period of 2024[26]. - The net loss for the three months ended September 30, 2025, was $7,729,000, a decrease of 23.5% compared to a net loss of $10,092,000 for the same period in 2024[26]. Expenses - Research and development expenses decreased to $6.4 million in Q3 2025 from $9.7 million in Q3 2024, totaling $22.4 million for the nine months ended September 30, 2025, down from $29.6 million in the same period in 2024[14]. - General and administrative expenses slightly decreased to $3.7 million in Q3 2025 from $3.8 million in Q3 2024, totaling $11.2 million for the nine months ended September 30, 2025, compared to $13.4 million in the same period in 2024[15]. Cash and Assets - Curis has cash and cash equivalents totaling $9.1 million as of September 30, 2025, which is expected to fund operations into Q1 2026[17]. - Curis's cash and cash equivalents decreased to $9,051,000 as of September 30, 2025, from $19,997,000 as of December 31, 2024[28]. - Total assets decreased to $27,641,000 as of September 30, 2025, from $41,265,000 as of December 31, 2024[28]. - Curis reported a weighted average of 15,680,178 common shares outstanding for the three months ended September 30, 2025[26]. Liabilities and Stockholders' Deficit - Total liabilities were $42,332,000 as of September 30, 2025, down from $47,263,000 as of December 31, 2024[28]. - Curis's total stockholders' deficit increased to $14,691,000 as of September 30, 2025, compared to $5,998,000 as of December 31, 2024[28]. Clinical Development - Curis is advancing clinical studies in PCNSL, CLL, and AML, with initial data from the frontline AML triplet study expected to be presented at the ASH annual meeting in December 2025[3]. - The company is initiating a Phase 2 study of emavusertib in combination with a BTK inhibitor in CLL, with the first patient expected to be dosed in late Q4 2025 or early Q1 2026[8]. - Curis aims to achieve accelerated approval for emavusertib in PCNSL in the US and Europe, having received orphan drug designation from both the FDA and EMA[8]. - Curis will present updated PCNSL and SCNSL data at the Society for Neuro-Oncology annual meeting in November 2026[19]. Competition and Risks - The company faces substantial competition and requires significant additional capital to fund its operations and development of emavusertib[23]. - The company may face risks related to regulatory approvals and potential adverse decisions from authorities, which could impact its business prospects[23]. Funding Activities - The company completed a registered direct offering and concurrent private placement to extend its cash runway into 2026[10].