Curis, Inc. (NASDAQ:CRIS) posted its financial report for the fourth quarter closed December 31, 2017. Ali Fattaey, Ph.D., the CEO, expressed that 2017 exemplified company’s business plan, marking the firm’s first time with 3 anti-cancer medication candidates in clinical advancement. They are thrilled about CUDC-907 treatment offering durable responses in almost 1 in 4 DLBCL subjects whose cancers show MYC alterations. The team is working closely with regulatory bodies to define a pivotal course to enroll CUDC-907 in this subject population, which has no feasible treatment options.
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Curis CEO added that their advancement with testing CA-170 has now gone beyond the Phase 1 study, with their associate Aurigene having commenced a Phase 2 study in India. This will considerably accelerate access to limited populations of subjects that have not experienced earlier immunotherapy. As noted, with commencement of patient registration in CA-4948’s Phase I lymphoma trial, for the first time, Curis has three different cancer medications in clinical assessment at the same time. They are thrilled about the prospects for these medications and their value to company’s success in 2018.
For the year closed December 31, 2017, Curis posted a net loss of $53.3 million as against a net loss of $60.4 million in 2016. Net loss came at $8 million in Q4 2017 versus a net loss of $11.3 million, for the comparable period in 2016. Revenue for the year closed December 31, 2017 came at $9.9 million versus the same period in 2016.
Curis reported that revenue for both periods constitute mainly royalty revenues recognized on Genentech as well as Roche’s net sales of Erivedge®. For Q4 2017, revenues came at $3.3 million compared to revenue of $2.4 million, in the same period a year ago. Operating expenses came at $59.7 million for the year closed December 31, 2017, versus $65.6 million for the comparable period in 2016.
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