NASDAQ$CRIS
Curis Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Curis reported a net loss for Q3 2020, while advancing clinical programs and initiating patient dosing in CI-8993 trial.
Curis, Inc. reported a net loss of $6.0 million, or $0.11 per share, for the third quarter of 2020, compared to a net loss of $6.4 million, or $0.19 per share, for the same period in 2019. Revenues for the quarter were $2.7 million, primarily from royalty revenues on Genentech and Roche's sales of Erivedge.
- Advanced clinical programs towards catalysts at the end of this year and into 2021
- Initiated patient dosing in Phase 1a/1b trial of anti-VISTA monoclonal antibody, CI-8993, in advanced refractory solid tumors
- Announced Cooperative Research and Development Agreement (CRADA) with National Cancer Institute (NCI) to collaborate on development of CA-4948
- Initiation planned for Phase 1 trial of CA-4948 in combination with ibrutinib in NHL
Headline financials
Revenue & EPS history
Curis · Revenue · Quarterly
$2.74M
Revenue by segment
Curis · $2.72M total across 1 segment · Q3 2020
- Royalties$2.72M-6.4%100.0%
Forward guidance
Curis expects that its existing cash, cash equivalents and investments should enable it to maintain its planned operations through the second quarter of 2021.
Tailwinds
- Declare the recommended Phase 2 dose for CA-4948 in the ongoing lymphoma Phase 1 study and report updated efficacy data from the study later this quarter.
- Report initial data later this quarter from the Phase 1 study of CA-4948 in patients with AML/MDS, including patients with spliceosome mutations that encode oncogenic IRAK4-L.
- Continue enrollment in Phase 1a/1b dose escalation study of CI-8993 in patients with relapsed / refractory solid tumors.
- Initiate Phase 1 study of CA-4948 in combination with ibrutinib.
- Extended cash runway through the second quarter of 2021, as a result of aggregate proceeds of approximately $10.0M since June 30, 2020 from the Company's at-the-market sales agreement with JonesTrading and stock purchase agreement with Aspire Capital.
Headwinds
- Curis may experience adverse results, delays and/or failures in its drug development programs and may not be able to successfully advance the development of its drug candidates in the time frames it projects, if at all.
- Curis's drug candidates may cause unexpected toxicities, fail to demonstrate sufficient safety and efficacy in clinical studies and/or may never achieve the requisite regulatory approvals needed for commercialization.
- Favorable results seen in preclinical studies and early clinical trials of Curis's drug candidates may not be replicated in later trials.
- Curis faces risks relating to the transfer and encumbrance of certain royalty and royalty-related payments on commercial sales of Erivedge, including the risk that, in the event of a default by Curis or its wholly-owned subsidiary, Curis could lose all retained rights to future royalty and royalty-related payments
- The COVID-19 pandemic may result in closures of third party facilities, impact enrollment in Curis's ongoing or planned clinical trials or impact sales of Erivedge by Genentech and/or Roche.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q3 2020
-1.7%
Avg return
Earnings day
-1.2%
Avg return
5 days after
+14.9%
Avg return
30 days after
37%
23 / 63 earnings
Positive
+46.2%
Q4 2017
Best reaction
-26.3%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -3.3% | -4.6% | — | |
| Q1 2026 | -9.5% | -13.1% | -23.7% | |
| Q3 2025 | -7.2% | -15.8% | -7.5% | |
| Q4 2024 | -9.5% | -38.6% | -32.4% | |
| Q3 2024 | +0.5% | -3.6% | -9.2% | |
| Q2 2024 | -8.8% | -12.4% | +0.9% | |
| Q1 2024 | +1.1% | -2.8% | -40.2% | |
| Q4 2023 | +10.9% | +8.0% | +11.8% | |
| Q3 2023 | -3.0% | +15.3% | +151.8% | |
| Q2 2023 | -11.5% | -17.7% | -26.6% | |
| Q1 2023 | -0.6% | +2.5% | +6.2% | |
| Q4 2022 | -10.9% | -14.3% | +31.7% | |
| Q3 2022 | +5.1% | +15.4% | -1.3% | |
| Q2 2022 | +2.0% | +0.0% | -7.1% | |
| Q1 2022 | -12.6% | +2.0% | -6.0% | |
| Q4 2021 | +9.2% | +15.7% | -15.4% | |
| Q3 2021 | -0.7% | -2.5% | -21.1% | |
| Q2 2021 | -6.9% | -10.1% | +13.9% | |
| Q1 2021 | +33.0% | +53.1% | -18.5% | |
| Q4 2020 | -1.7% | +10.2% | +10.8% | |
| Q3 2020 | +12.0% | +13.9% | +647.2% | |
| Q2 2020 | +16.8% | +19.3% | -16.0% | |
| Q1 2020 | -12.0% | -10.5% | +55.8% | |
| Q4 2019 | -7.1% | -4.2% | +9.7% | |
| Q3 2019 | -26.3% | -39.1% | -24.3% | |
| Q2 2019 | -21.3% | -20.9% | -18.3% | |
| Q1 2019 | -1.6% | -11.4% | -22.7% | |
| Q4 2018 | +5.8% | +5.3% | -5.8% | |
| Q3 2018 | +5.5% | -1.8% | -47.2% | |
| Q2 2018 | -9.8% | -12.4% | -12.4% | |
| Q1 2018 | -10.8% | -12.5% | -11.1% | |
| Q4 2017 | +46.2% | +43.9% | -5.3% | |
| Q3 2017 | -11.3% | -18.5% | -44.4% | |
| Q2 2017 | +0.0% | -1.2% | +21.5% | |
| Q1 2017 | -11.7% | -7.9% | -10.7% | |
| Q4 2016 | +16.1% | +12.5% | +2.0% | |
| Q3 2016 | -3.6% | +11.1% | +20.2% | |
| Q2 2016 | -1.7% | +1.1% | -3.4% | |
| Q1 2016 | +7.3% | — | — | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | +2.4% | — | — | |
| Q2 2015 | -9.7% | — | — | |
| Q1 2015 | +4.6% | — | — | |
| Q4 2014 | +0.3% | — | — | |
| Q3 2014 | -0.8% | — | — | |
| Q2 2014 | -7.8% | — | — | |
| Q1 2014 | +0.0% | — | — | |
| Q4 2013 | +11.4% | — | — | |
| Q3 2013 | -25.2% | — | — | |
| Q2 2013 | +3.0% | — | — | |
| Q1 2013 | -9.4% | — | — | |
| Q4 2012 | -4.0% | — | — | |
| Q3 2012 | -3.4% | — | — | |
| Q2 2012 | -0.9% | — | — | |
| Q1 2011 | +2.9% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q4 2011 | -1.9% | — | — | |
| Q3 2011 | -6.8% | — | — | |
| Q3 2010 | -6.8% | — | — | |
| Q2 2011 | -10.6% | — | — | |
| Q2 2010 | -10.6% | — | — | |
| Q4 2010 | +2.4% | — | — | |
| Q1 2010 | -6.7% | — | — |
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