Curis

Curis is a biotechnology company focused on developing novel cancer therapeutics. The company has one approved and commercially available drug Erivedge, a Hedgehog pathway inhibitor, which targets a specific genetic mutation that drives the growth of basal cell carcinoma (BCC). This drug targets advanced cases of BCC where surgery or radiotherapy is not sufficient. 

Furthermore, as of August 2023, the company had five drugs in its pipeline, including 1) emavusertib, which is a IRAK4 kinase inhibitor small molecule drug to treat and was undergoing clinical trials, and 2) fimepinostat, which is an HDAC/PI3K inhibitor to treat MYC-altered cancer and was also undergoing clinical trials. 

Key customers and partnerships

Curis has established several key partnerships to strengthen its drug discovery and development efforts, including with Aurigene since January 2015 to develop small molecule inhibitors of IRAK4 kinase such as emavusertib and with Genentech since June 2003 to develop and commercialize Erivedge in the US, which is also sublicensed to Roche for rights outside the US. 

Funding and financials

The company began trading on the Nasdaq in August 2000 under the ticker symbol “CRIS.” In July 2023, the company registered a direct offering to raise USD 15.1 million. The net proceeds were expected to be used toward R&D, working capital, and general corporate purposes. 

For the six months ended June 2023, the company achieved a revenue of USD 4.5 million (up by 1% YoY). However, it reported a significant improvement in net loss by 26.5% YoY to USD 23.5 million. Its cash and cash equivalent as of June 2023 was at USD 63.5 million compared with USD 85.6 million in December 2022.