Curis Inc.-Biorakete-WKN:940909
16.11.06 17:02
#1
soros
Curis Inc.-Biorakete-WKN:940909
November 9, 2006 - 8:00 AM EST
Curis Reports Third Quarter 2006 Financial Results
Curis, Inc. (NASDAQ:CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, today reported its financial results for the third quarter ended September 30, 2006.
For the third quarter of 2006, Curis reported a net loss of $1,537,000, or ($0.03) per share, as compared to a net loss of $3,251,000 or ($0.07) per share for the same period in the prior year.
Net revenues for the third quarter of 2006 were $4,270,000 as compared to $2,065,000 for the third quarter of 2005, an increase of $2,205,000. The increase in net revenues was primarily due to the recording of $2,284,000 of license revenue as part of a settlement agreement with Micromet, a former collaborator, and a $464,000 decrease in contra-revenues recorded under the Company's basal cell carcinoma co-development arrangement with Genentech. The Company elected to cease its participation in co-development on August 31, 2006, and does not expect to incur any further costs related to the basal cell carcinoma program. The increase to net revenues was partially offset by a decrease in revenues recorded under the Company's ongoing collaborative relationships. Such revenues decreased by $481,000 to $2,341,000 during the third quarter of 2006 from $2,822,000 during the same period in 2005.
Operating expenses for the third quarter of 2006 were $5,972,000 as compared to $5,543,000 for the third quarter of 2005, an increase of $429,000, or 8%. The primary changes in research and development and general and administrative expenses are as follows:
Research and development spending decreased slightly to $3,669,000 for the third quarter of 2006 as compared to $3,691,000 for the same period in 2005. Spending increases related to a new preclinical program focusing on multi-targeted inhibitors of validated cancer pathways were offset by decreases in spending on Curis's other research programs.
General and administrative spending was $2,302,000 for the third quarter of 2006 as compared to $1,833,000 for the same period in 2005, an increase of $469,000, or 26%. The increase in general and administrative expenses was principally due to an increase of $639,000 in stock-based compensation expense during the third quarter of 2006 as a result of the Company's adoption on January 1, 2006 of Statement of Financial Accounting Standards No. 123R, Share-Based Payments (SFAS 123R).
In addition, consulting and professional service fees increased $118,000 in the third quarter of 2006 as compared to the same prior year period due to costs associated with the formation of the Company's Chinese subsidiary, Curis Shanghai. Offsetting this increase, the third quarter of 2006 includes a $256,000 decrease in patent-related legal expense.
For the first nine months of 2006, the Company reported a net loss of $9.5 million dollars or ($0.19) per share, as compared to a net loss of $13.5 million dollars or ($0.28) per share for the prior year period.
Net revenues for the nine months ended September 30, 2006 were $8,868,000 as compared to $2,493,000 for the same period of 2005, an increase of $6,375,000. The increase in net revenues in the 2006 period was due to a $3,970,000 decrease in contra-revenues recorded under the Company's discontinued basal cell carcinoma co-development arrangement with Genentech in 2006 as compared to 2005 and $2,284,000 in license revenue recognized as part of a settlement agreement with Micromet.
Operating expenses were $19,172,000 and $16,607,000 for the nine-month periods ended September 30, 2006 and 2005, respectively. The $2,565,000, or 15%, increase in the Company's research and development and general and administrative expenses was due to the following:
Research and development expenses were $10,994,000 for the nine months ended September 30, 2006 as compared to $10,410,000 for the same period in the prior year, an increase of $584,000, or 6%. The increase was primarily due to an increase in stock-based compensation expense of $638,000. The Company's spending in research remained consistent from period to period.
General and administrative expenses were $8,150,000 for the nine months ended September 30, 2006 as compared to $6,141,000 for the same period in the prior year, an increase of $2,009,000, or 33%. The increase in general and administrative expenses was principally due to an increase of $2,028,000 in stock-based compensation expense.
As of September 30, 2006, Curis had cash, cash equivalents, marketable securities and investments of $35,187,000 and there were 49,164,945 shares of common stock outstanding. The Company currently expects that it will end 2006 with between $34,000,000 and $36,000,000 in cash. If this expectation is met, the Company's cash, cash equivalents, marketable securities and investments will have decreased $8,000,000 to $10,000,000 from the balances at the end of 2005.
"We've accomplished many important objectives over the past several months," said Dan Passeri, President and Chief Executive Officer of Curis. "Our collaboration partner Genentech filed an IND based on our Hedgehog antagonist technologies for the systemic treatment of cancers, and we have also made significant progress with our internal preclinical multi-target inhibitor cancer programs. We anticipate completing in vivo efficacy testing during the fourth quarter of 2006 and hope to select a lead clinical candidate during the first half of 2007. We're also looking forward in the first half of 2007 to the potential selection of a lead clinical candidate under our topical Hedgehog agonist program in collaboration with Procter & Gamble, as well as a potential 2007 lead candidate selection under our collaboration with Wyeth."
Recent Developments and Third Quarter 2006 Highlights
-- In October 2006, Genentech paid Curis a $3 million payment after it filed an IND with the Food and Drug Administration to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer. Should this small molecule drug candidate successfully continue its development into subsequent stages of clinical testing and regulatory approval, Curis would be eligible for additional payments. Curis also has the right to receive royalties on any product sales.
The Phase I trial is designed as an open-label study of a systemic Hedgehog antagonist in patients with locally advanced or metastatic cancers that are refractory to standard therapy or for whom no standard therapies exist. The primary objectives of the Phase I trial are to evaluate the safety and tolerability of escalating doses of the Phase I molecule and to establish the maximum tolerable dose and dose limiting toxicities. The trial is expected to enroll approximately 50 patients spread across several dose-escalating cohorts. The successful completion of the Phase I trial will be dependent upon, among other things, the patient enrollment rate as well as the number of patients that will ultimately need to be treated to achieve the Phase I trial objectives.
-- In September 2006, Curis agreed to a court-proposed settlement agreement with Micromet, a former collaborator, to resolve a claim brought in German court by Curis over payments due to Curis under a note payable from Micromet. In accordance with the settlement, Micromet has agreed to pay Curis EUR 1,000,000, due on November 1, 2006, and EUR 1,000,000, due on May 31, 2007. Should Micromet make the second payment on or before April 30, 2007, the second payment would decrease to EUR 800,000. Curis received the first payment of EUR 1,000,000, or approximately $1,250,000, in October 2006 under this settlement.
-- In September 2006, Curis announced that it initiated a new preclinical program seeking to develop several classes of new proprietary small molecule drug candidates, each of which is being designed to target multiple distinct molecular pathways. Unlike other multi-targeted inhibitors, which target multiple closely related tyrosine kinase receptors, Curis is seeking to develop drug candidates as single molecules. These single molecule drug candidates are being designed to target multiple distinct molecular pathways that the Company believes have the potential to provide anti-tumor activity across a broad range of hematologic (i.e., blood) and solid tumor cancers.
These new drug programs are currently in preclinical testing. Curis will seek to progress several classes of compounds simultaneously through preclinical development. Assuming successful preclinical development, Curis expects to select a lead clinical candidate during the first half of 2007 and to file an IND by the end of 2007.
-- In September 2006, Curis announced the establishment of a wholly-owned subsidiary in Shanghai, China called Curis Pharmaceuticals (Shanghai) Co., Ltd., or Curis Shanghai. Overall scientific leadership, program management and in vivo animal work will continue to be conducted in the U.S. where the Company has an established infrastructure. Curis has engaged chemists through a third-party Chinese chemistry provider to work with its U.S.-based scientists to provide a virtual "24/7" drug discovery and development operation, which Curis believes may result in enhanced capacity, greater productivity and new cost efficiencies. Curis anticipates that its chemistry costs will be reduced by approximately 75% compared to outsourcing chemistry with traditional western chemistry providers.
-- In September 2006, Curis added three new members to its Scientific Advisory Board: Stuart A. Aaronson, M.D., Chairman, Department of Oncological Sciences at The Mount Sinai Medical Center in New York City; George F. Vande Woude, Ph.D., Director, Van Andel Research Institute and formerly with the National Cancer Institute; and Kenneth J. Pienta, M.D., Chair, Translational Medicine Committee of the Southwest Oncology Group (SWOG). These advisors bring a broad understanding of oncology to Curis, as well as deep experience advising biotechnology and pharmaceutical companies in various stages of growth.
-- On August 31, 2006, and pursuant to the terms of the Company's June 2003 collaboration agreement with Genentech, Curis elected to cease its participation in the co-development of a basal cell carcinoma drug candidate. Effective August 31, 2006, the co-development termination date, Genentech will be solely responsible for all future costs and development decisions regarding the basal cell carcinoma program. The Company believes that the Phase I trial was halted due to a formulation/penetration problem and does not call into question the role of the Hedgehog pathway in basal cell carcinoma or other cancers.
The Company will hold a conference call today, November 9, 2006, at 10:00 A.M. EST, to discuss its financial results, the progress of its therapeutic product development programs, and additional corporate activities. Daniel Passeri, President and Chief Executive Officer of Curis, will host the call.
To access the live conference call, please call (866) 362-4820 from the United States and Canada or (617) 597-5345 from other locations, shortly before 10:00 a.m. EST. The conference ID number is 46213398. Replay will be available approximately two hours after the completion of the call and through 5:00 P.M. EST, Monday, November 23, 2006. To access the replay, please call (888) 286-8010 from the United States and Canada or (617) 801-6888 from other locations and reference the conference ID number 40802994. CURIS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
--------------------------------------------------
Three months ended Nine months ended
September 30, September 30,
2006 2005 2006 2005
------------ ------------ ------------ -------------
Revenues:
Gross revenues $4,625,874 $2,884,616 $10,595,479 $8,190,993
Contra-revenues
from co-
development
with Genentech (355,435) (819,491) (1,727,727) (5,697,993)
------------ ------------ ------------ -------------
Net revenues 4,270,439 2,065,125 8,867,752 2,493,000
------------ ------------ ------------ -------------
Operating
expenses:
Research and
development 3,669,368 3,691,261 10,994,327 10,409,583
General and
administrative 2,302,469 1,832,802 8,150,372 6,141,013
Amortization of
intangible
assets - 18,768 27,050 56,304
------------ ------------ ------------ -------------
Total
operating
expenses 5,971,837 5,542,831 19,171,749 16,606,900
------------ ------------ ------------ -------------
Net loss from
operations (1,701,398) (3,477,706) (10,303,997) (14,113,900)
------------ ------------ ------------ -------------
Other income, net 164,771 226,365 794,181 623,308
------------ ------------ ------------ -------------
Net loss $(1,536,627) $(3,251,341) $(9,509,816) $(13,490,592)
============ ============ ============ =============
Basic and diluted
net loss per
common share $(0.03) $(0.07) $(0.19) $(0.28)
============ ============ ============ =============
Basic and diluted
weighted average
common shares
outstanding 49,146,609 48,178,626 49,012,538 47,998,663
============ ============ ============ =============
CURIS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
--------------------------------------------------
September 30, December 31,
2006 2005
------------- ------------
ASSETS
Cash, cash equivalents, marketable
securities $35,187,362 $44,209,322
Long-term investments - restricted 201,844 195,998
Accounts and notes receivable 3,009,543 1,002,511
Property and equipment, net 4,452,842 5,347,639
Intangible assets, net 8,982,000 9,009,050
Other assets 956,355 1,149,733
------------- ------------
Total assets $52,789,946 $60,914,253
============= ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable, accrued expenses and
other liabilities $3,962,687 $5,088,998
Debt obligations, excluding convertible
debt 2,289,489 3,226,712
Convertible debt - 2,605,280
Deferred revenue 12,418,466 11,993,684
------------- ------------
Total liabilities 18,670,642 22,914,674
Total stockholders' equity 34,119,304 37,999,579
------------- ------------
Total liabilities and stockholders' equity $52,789,946 $60,914,253
============= ============
About Curis, Inc.
Curis, Inc. is a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, with technologies that utilize regulatory pathways that control repair and regeneration. Curis' product development involves the use of small molecules or proteins to modulate these pathways. The company has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of cancer (under collaboration with Genentech, as well as new proprietary cancer programs that target multiple validated cancer pathways), neurological disorders (under collaboration with Wyeth), hair growth (under collaboration with Procter & Gamble), kidney and other diseases (licensed to Ortho Biotech Products and under development at Centocor, both subsidiaries of Johnson & Johnson), and cardiovascular disease. For more information, please visit www.curis.com.
Cautionary Statement: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning Curis' guidance regarding year end cash balances and total year cash decline, Curis' projections regarding the completion of efficacy testing, lead candidate selection and IND filing for its lead internal programs, the expected efficacy of its new internal programs and the Company's expectations about future advances in its programs with Wyeth and Procter & Gamble. Forward-looking statements used in this press release may contain the words "believes", "expects", "anticipates", "plans", "seeks", "estimates," "should" or similar expressions. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that may cause the Company's actual results to be materially different from those indicated by such forward-looking statements including, among other things:
-- adverse results, delays and/or failures in the Company's and its strategic collaborators' and licensees' product development programs;
-- difficulties or delays in obtaining or maintaining required regulatory approvals for products being developed by the Company and its collaborators and licensees;
-- the Company's ability to obtain or maintain the patent and other proprietary intellectual property protection necessary for the development and commercialization of products based on its technologies;
-- changes in or the Company's inability to execute its business plan;
-- the risk that Curis does not obtain the additional funding required to conduct research and development of its product candidates and execute the Company's business plan;
-- unplanned cash requirements and expenditures;
-- risks relating to the Company's ability to enter into and maintain important strategic collaborations, including its ability to maintain its current collaboration agreements with Genentech, Wyeth, and Procter & Gamble as well as its license agreement with Ortho Biotech Products;
-- the risk that competitors will discover and develop signaling pathway-based or other competing therapeutics faster and more successfully than the Company and its collaborators are able to;
-- and other risk factors identified in the Company's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent reports periodically filed with the Securities and Exchange Commission.
In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company disclaims any intention or obligation to update any of the forward-looking statements after the date of this press release whether as a result of new information, future events or otherwise.
Curis, Inc.
Michael P. Gray, 617-503-6632
Chief Financial Officer
mgray@curis.com
or
For Curis, Inc.
Jenny Viscarolasaga, 617-503-6658
Jenny@tworoadscommunications.com
Curis Reports Third Quarter 2006 Financial Results
Curis, Inc. (NASDAQ:CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, today reported its financial results for the third quarter ended September 30, 2006.
For the third quarter of 2006, Curis reported a net loss of $1,537,000, or ($0.03) per share, as compared to a net loss of $3,251,000 or ($0.07) per share for the same period in the prior year.
Net revenues for the third quarter of 2006 were $4,270,000 as compared to $2,065,000 for the third quarter of 2005, an increase of $2,205,000. The increase in net revenues was primarily due to the recording of $2,284,000 of license revenue as part of a settlement agreement with Micromet, a former collaborator, and a $464,000 decrease in contra-revenues recorded under the Company's basal cell carcinoma co-development arrangement with Genentech. The Company elected to cease its participation in co-development on August 31, 2006, and does not expect to incur any further costs related to the basal cell carcinoma program. The increase to net revenues was partially offset by a decrease in revenues recorded under the Company's ongoing collaborative relationships. Such revenues decreased by $481,000 to $2,341,000 during the third quarter of 2006 from $2,822,000 during the same period in 2005.
Operating expenses for the third quarter of 2006 were $5,972,000 as compared to $5,543,000 for the third quarter of 2005, an increase of $429,000, or 8%. The primary changes in research and development and general and administrative expenses are as follows:
Research and development spending decreased slightly to $3,669,000 for the third quarter of 2006 as compared to $3,691,000 for the same period in 2005. Spending increases related to a new preclinical program focusing on multi-targeted inhibitors of validated cancer pathways were offset by decreases in spending on Curis's other research programs.
General and administrative spending was $2,302,000 for the third quarter of 2006 as compared to $1,833,000 for the same period in 2005, an increase of $469,000, or 26%. The increase in general and administrative expenses was principally due to an increase of $639,000 in stock-based compensation expense during the third quarter of 2006 as a result of the Company's adoption on January 1, 2006 of Statement of Financial Accounting Standards No. 123R, Share-Based Payments (SFAS 123R).
In addition, consulting and professional service fees increased $118,000 in the third quarter of 2006 as compared to the same prior year period due to costs associated with the formation of the Company's Chinese subsidiary, Curis Shanghai. Offsetting this increase, the third quarter of 2006 includes a $256,000 decrease in patent-related legal expense.
For the first nine months of 2006, the Company reported a net loss of $9.5 million dollars or ($0.19) per share, as compared to a net loss of $13.5 million dollars or ($0.28) per share for the prior year period.
Net revenues for the nine months ended September 30, 2006 were $8,868,000 as compared to $2,493,000 for the same period of 2005, an increase of $6,375,000. The increase in net revenues in the 2006 period was due to a $3,970,000 decrease in contra-revenues recorded under the Company's discontinued basal cell carcinoma co-development arrangement with Genentech in 2006 as compared to 2005 and $2,284,000 in license revenue recognized as part of a settlement agreement with Micromet.
Operating expenses were $19,172,000 and $16,607,000 for the nine-month periods ended September 30, 2006 and 2005, respectively. The $2,565,000, or 15%, increase in the Company's research and development and general and administrative expenses was due to the following:
Research and development expenses were $10,994,000 for the nine months ended September 30, 2006 as compared to $10,410,000 for the same period in the prior year, an increase of $584,000, or 6%. The increase was primarily due to an increase in stock-based compensation expense of $638,000. The Company's spending in research remained consistent from period to period.
General and administrative expenses were $8,150,000 for the nine months ended September 30, 2006 as compared to $6,141,000 for the same period in the prior year, an increase of $2,009,000, or 33%. The increase in general and administrative expenses was principally due to an increase of $2,028,000 in stock-based compensation expense.
As of September 30, 2006, Curis had cash, cash equivalents, marketable securities and investments of $35,187,000 and there were 49,164,945 shares of common stock outstanding. The Company currently expects that it will end 2006 with between $34,000,000 and $36,000,000 in cash. If this expectation is met, the Company's cash, cash equivalents, marketable securities and investments will have decreased $8,000,000 to $10,000,000 from the balances at the end of 2005.
"We've accomplished many important objectives over the past several months," said Dan Passeri, President and Chief Executive Officer of Curis. "Our collaboration partner Genentech filed an IND based on our Hedgehog antagonist technologies for the systemic treatment of cancers, and we have also made significant progress with our internal preclinical multi-target inhibitor cancer programs. We anticipate completing in vivo efficacy testing during the fourth quarter of 2006 and hope to select a lead clinical candidate during the first half of 2007. We're also looking forward in the first half of 2007 to the potential selection of a lead clinical candidate under our topical Hedgehog agonist program in collaboration with Procter & Gamble, as well as a potential 2007 lead candidate selection under our collaboration with Wyeth."
Recent Developments and Third Quarter 2006 Highlights
-- In October 2006, Genentech paid Curis a $3 million payment after it filed an IND with the Food and Drug Administration to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer. Should this small molecule drug candidate successfully continue its development into subsequent stages of clinical testing and regulatory approval, Curis would be eligible for additional payments. Curis also has the right to receive royalties on any product sales.
The Phase I trial is designed as an open-label study of a systemic Hedgehog antagonist in patients with locally advanced or metastatic cancers that are refractory to standard therapy or for whom no standard therapies exist. The primary objectives of the Phase I trial are to evaluate the safety and tolerability of escalating doses of the Phase I molecule and to establish the maximum tolerable dose and dose limiting toxicities. The trial is expected to enroll approximately 50 patients spread across several dose-escalating cohorts. The successful completion of the Phase I trial will be dependent upon, among other things, the patient enrollment rate as well as the number of patients that will ultimately need to be treated to achieve the Phase I trial objectives.
-- In September 2006, Curis agreed to a court-proposed settlement agreement with Micromet, a former collaborator, to resolve a claim brought in German court by Curis over payments due to Curis under a note payable from Micromet. In accordance with the settlement, Micromet has agreed to pay Curis EUR 1,000,000, due on November 1, 2006, and EUR 1,000,000, due on May 31, 2007. Should Micromet make the second payment on or before April 30, 2007, the second payment would decrease to EUR 800,000. Curis received the first payment of EUR 1,000,000, or approximately $1,250,000, in October 2006 under this settlement.
-- In September 2006, Curis announced that it initiated a new preclinical program seeking to develop several classes of new proprietary small molecule drug candidates, each of which is being designed to target multiple distinct molecular pathways. Unlike other multi-targeted inhibitors, which target multiple closely related tyrosine kinase receptors, Curis is seeking to develop drug candidates as single molecules. These single molecule drug candidates are being designed to target multiple distinct molecular pathways that the Company believes have the potential to provide anti-tumor activity across a broad range of hematologic (i.e., blood) and solid tumor cancers.
These new drug programs are currently in preclinical testing. Curis will seek to progress several classes of compounds simultaneously through preclinical development. Assuming successful preclinical development, Curis expects to select a lead clinical candidate during the first half of 2007 and to file an IND by the end of 2007.
-- In September 2006, Curis announced the establishment of a wholly-owned subsidiary in Shanghai, China called Curis Pharmaceuticals (Shanghai) Co., Ltd., or Curis Shanghai. Overall scientific leadership, program management and in vivo animal work will continue to be conducted in the U.S. where the Company has an established infrastructure. Curis has engaged chemists through a third-party Chinese chemistry provider to work with its U.S.-based scientists to provide a virtual "24/7" drug discovery and development operation, which Curis believes may result in enhanced capacity, greater productivity and new cost efficiencies. Curis anticipates that its chemistry costs will be reduced by approximately 75% compared to outsourcing chemistry with traditional western chemistry providers.
-- In September 2006, Curis added three new members to its Scientific Advisory Board: Stuart A. Aaronson, M.D., Chairman, Department of Oncological Sciences at The Mount Sinai Medical Center in New York City; George F. Vande Woude, Ph.D., Director, Van Andel Research Institute and formerly with the National Cancer Institute; and Kenneth J. Pienta, M.D., Chair, Translational Medicine Committee of the Southwest Oncology Group (SWOG). These advisors bring a broad understanding of oncology to Curis, as well as deep experience advising biotechnology and pharmaceutical companies in various stages of growth.
-- On August 31, 2006, and pursuant to the terms of the Company's June 2003 collaboration agreement with Genentech, Curis elected to cease its participation in the co-development of a basal cell carcinoma drug candidate. Effective August 31, 2006, the co-development termination date, Genentech will be solely responsible for all future costs and development decisions regarding the basal cell carcinoma program. The Company believes that the Phase I trial was halted due to a formulation/penetration problem and does not call into question the role of the Hedgehog pathway in basal cell carcinoma or other cancers.
The Company will hold a conference call today, November 9, 2006, at 10:00 A.M. EST, to discuss its financial results, the progress of its therapeutic product development programs, and additional corporate activities. Daniel Passeri, President and Chief Executive Officer of Curis, will host the call.
To access the live conference call, please call (866) 362-4820 from the United States and Canada or (617) 597-5345 from other locations, shortly before 10:00 a.m. EST. The conference ID number is 46213398. Replay will be available approximately two hours after the completion of the call and through 5:00 P.M. EST, Monday, November 23, 2006. To access the replay, please call (888) 286-8010 from the United States and Canada or (617) 801-6888 from other locations and reference the conference ID number 40802994. CURIS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
--------------------------------------------------
Three months ended Nine months ended
September 30, September 30,
2006 2005 2006 2005
------------ ------------ ------------ -------------
Revenues:
Gross revenues $4,625,874 $2,884,616 $10,595,479 $8,190,993
Contra-revenues
from co-
development
with Genentech (355,435) (819,491) (1,727,727) (5,697,993)
------------ ------------ ------------ -------------
Net revenues 4,270,439 2,065,125 8,867,752 2,493,000
------------ ------------ ------------ -------------
Operating
expenses:
Research and
development 3,669,368 3,691,261 10,994,327 10,409,583
General and
administrative 2,302,469 1,832,802 8,150,372 6,141,013
Amortization of
intangible
assets - 18,768 27,050 56,304
------------ ------------ ------------ -------------
Total
operating
expenses 5,971,837 5,542,831 19,171,749 16,606,900
------------ ------------ ------------ -------------
Net loss from
operations (1,701,398) (3,477,706) (10,303,997) (14,113,900)
------------ ------------ ------------ -------------
Other income, net 164,771 226,365 794,181 623,308
------------ ------------ ------------ -------------
Net loss $(1,536,627) $(3,251,341) $(9,509,816) $(13,490,592)
============ ============ ============ =============
Basic and diluted
net loss per
common share $(0.03) $(0.07) $(0.19) $(0.28)
============ ============ ============ =============
Basic and diluted
weighted average
common shares
outstanding 49,146,609 48,178,626 49,012,538 47,998,663
============ ============ ============ =============
CURIS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
--------------------------------------------------
September 30, December 31,
2006 2005
------------- ------------
ASSETS
Cash, cash equivalents, marketable
securities $35,187,362 $44,209,322
Long-term investments - restricted 201,844 195,998
Accounts and notes receivable 3,009,543 1,002,511
Property and equipment, net 4,452,842 5,347,639
Intangible assets, net 8,982,000 9,009,050
Other assets 956,355 1,149,733
------------- ------------
Total assets $52,789,946 $60,914,253
============= ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable, accrued expenses and
other liabilities $3,962,687 $5,088,998
Debt obligations, excluding convertible
debt 2,289,489 3,226,712
Convertible debt - 2,605,280
Deferred revenue 12,418,466 11,993,684
------------- ------------
Total liabilities 18,670,642 22,914,674
Total stockholders' equity 34,119,304 37,999,579
------------- ------------
Total liabilities and stockholders' equity $52,789,946 $60,914,253
============= ============
About Curis, Inc.
Curis, Inc. is a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, with technologies that utilize regulatory pathways that control repair and regeneration. Curis' product development involves the use of small molecules or proteins to modulate these pathways. The company has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of cancer (under collaboration with Genentech, as well as new proprietary cancer programs that target multiple validated cancer pathways), neurological disorders (under collaboration with Wyeth), hair growth (under collaboration with Procter & Gamble), kidney and other diseases (licensed to Ortho Biotech Products and under development at Centocor, both subsidiaries of Johnson & Johnson), and cardiovascular disease. For more information, please visit www.curis.com.
Cautionary Statement: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning Curis' guidance regarding year end cash balances and total year cash decline, Curis' projections regarding the completion of efficacy testing, lead candidate selection and IND filing for its lead internal programs, the expected efficacy of its new internal programs and the Company's expectations about future advances in its programs with Wyeth and Procter & Gamble. Forward-looking statements used in this press release may contain the words "believes", "expects", "anticipates", "plans", "seeks", "estimates," "should" or similar expressions. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that may cause the Company's actual results to be materially different from those indicated by such forward-looking statements including, among other things:
-- adverse results, delays and/or failures in the Company's and its strategic collaborators' and licensees' product development programs;
-- difficulties or delays in obtaining or maintaining required regulatory approvals for products being developed by the Company and its collaborators and licensees;
-- the Company's ability to obtain or maintain the patent and other proprietary intellectual property protection necessary for the development and commercialization of products based on its technologies;
-- changes in or the Company's inability to execute its business plan;
-- the risk that Curis does not obtain the additional funding required to conduct research and development of its product candidates and execute the Company's business plan;
-- unplanned cash requirements and expenditures;
-- risks relating to the Company's ability to enter into and maintain important strategic collaborations, including its ability to maintain its current collaboration agreements with Genentech, Wyeth, and Procter & Gamble as well as its license agreement with Ortho Biotech Products;
-- the risk that competitors will discover and develop signaling pathway-based or other competing therapeutics faster and more successfully than the Company and its collaborators are able to;
-- and other risk factors identified in the Company's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent reports periodically filed with the Securities and Exchange Commission.
In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company disclaims any intention or obligation to update any of the forward-looking statements after the date of this press release whether as a result of new information, future events or otherwise.
Curis, Inc.
Michael P. Gray, 617-503-6632
Chief Financial Officer
mgray@curis.com
or
For Curis, Inc.
Jenny Viscarolasaga, 617-503-6658
Jenny@tworoadscommunications.com
4 Postings ausgeblendet.
21.12.06 01:13
#6
soros
Die Werbetrommel läuft an!
Curis to Present at Wall Street Analyst Forum Investor Conference
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 30, 2006--Curis, Inc. (NASDAQ: CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, today announced that the company will be presenting at The Wall Street Analyst Forum Investor Conference taking place December 6th and 7th at The Princeton Club in New York, New York. The company will give its presentation on Thursday, December 7th, from 9:50 a.m. to 10:30 a.m. during the "Biotechnology & Healthcare" track.
Daniel Passeri, Curis's President and CEO, will provide an overview of the status of the company's business and collaborations. There will also be a corresponding webcast of the presentation, which can be accessed by visiting:
http://www.investorcalendar.com/CEPage.asp?ID=111327
The presentation will be archived shortly after the live event and available for 30 days following the conference. In addition, it will also be available on the Investor Relations section of the Curis website at www.curis.com.
Curis to Present at Wall Street Analyst Forum Investor Conference
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 30, 2006--Curis, Inc. (NASDAQ: CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, today announced that the company will be presenting at The Wall Street Analyst Forum Investor Conference taking place December 6th and 7th at The Princeton Club in New York, New York. The company will give its presentation on Thursday, December 7th, from 9:50 a.m. to 10:30 a.m. during the "Biotechnology & Healthcare" track.
Daniel Passeri, Curis's President and CEO, will provide an overview of the status of the company's business and collaborations. There will also be a corresponding webcast of the presentation, which can be accessed by visiting:
http://www.investorcalendar.com/CEPage.asp?ID=111327
The presentation will be archived shortly after the live event and available for 30 days following the conference. In addition, it will also be available on the Investor Relations section of the Curis website at www.curis.com.
&zeitraum=8&bname=&save_presets=0&ind_news_art=&zoom.x=0&bis=1166660918.62834&zeitvon=0&zeitbis=&ind_volume=ON&cookies=HASH(0xb4b29c0)&boerse_id=40&go=upper&von=0&banner_ref=HASH(0xb418c30)&req_host=www.ariva.de&b=0&rnd=6949)
22.12.06 13:18
#9
soros
technische gegenbewegung bald oder mehr?
am 20 dez. die news, volle pipeline, viele spannende lizenzen, treffen mit analysten nun bald...(werbetrommel), unter insiderkäufen sieht man, das sich officer (Chief Executive Officer),director,officer (VP, Tech Management),officer (Vice President,General Counsel)...seit 2003 immer wieder eingedeckt haben, scheinen ja positiv gestimmt zu sein...des weiteren viele interessante dinge geplant bzw angelaufen...curis shanghai z.B!!!
www.curis.com mal anschauen! die aktie kann schnell mal auf 3-5usd steigen, bei der niedrigen marktkapitalisierung!
www.curis.com mal anschauen! die aktie kann schnell mal auf 3-5usd steigen, bei der niedrigen marktkapitalisierung!
27.12.06 16:17
#10
soros
news interessant und charttechnisch ebenfalls?
Tue, Dec 26, 2006
FILING Report of unscheduled material events or corporate changes - Form 8-K
Wed, Dec 20, 2006
8:04 AM Curis Announces Key Management Promotions - Business Wire
FILING Report of unscheduled material events or corporate changes - Form 8-K
Thu, Nov 30, 2006
8:03 AM Curis to Present at Wall Street Analyst Forum Investor Conference - Business Wire
FILING Report of unscheduled material events or corporate changes - Form 8-K
Wed, Dec 20, 2006
8:04 AM Curis Announces Key Management Promotions - Business Wire
FILING Report of unscheduled material events or corporate changes - Form 8-K
Thu, Nov 30, 2006
8:03 AM Curis to Present at Wall Street Analyst Forum Investor Conference - Business Wire
03.01.07 17:27
#12
soros
ich sag nur großinvestoren china!
Curis Announces Key Management Promotions
Michael Gray Appointed COO and Dr. Changgeng Qian Promoted to the
Position of Vice President, Discovery and Preclinical Development
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 20, 2006--Curis, Inc. (NASDAQ: CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, today announced recent promotions within its management team infrastructure. The changes were made to better align the management structure with Curis' ongoing strategy of deemphasizing early stage discovery research and seeking instead to develop proprietary later stage preclinical and, ultimately, clinical assets. The first such later stage program is a platform of proprietary cancer programs that target multiple validated cancer pathways. This platform is currently in preclinical testing and Curis expects to select the first lead clinical candidate in early 2007 and file an Investigational New Drug (IND) application during the second half of 2007.
Management Promotions
Michael P. Gray, who most recently held the position of Senior Vice President of Finance and Chief Financial Officer, will assume the additional role of Chief Operating Officer, while retaining the responsibilities and title of Chief Financial Officer. Gray will continue to have primary responsibility over a majority of Curis' administrative functions and will now have a greater role in aligning Curis' promising drug development programs with the company's overall corporate objectives and operating budget.
"Mike Gray has been an important part of the Curis team and has consistently demonstrated strong management and leadership skills during his tenure," said Dan Passeri, President and Chief Executive Officer of Curis. "He has provided solid financial and administrative oversight throughout his three years as Curis' Chief Financial Officer and was also instrumental in implementing various aspects of our recent entry into China. I will be looking to Mike to lead the coordination of the company's drug development and administrative efforts as we seek to move our drug programs into later stages of development in a highly effective and cost-efficient manner."
In addition, Curis recently promoted Dr. Changgeng Qian to the position of Vice President, Discovery and Preclinical Development. Dr. Qian joined Curis in 2001, bringing more than 25 years of academic and industrial experience in drug discovery, including pharmacokinetics, drug metabolism, efficacy evaluation, experimental disease model development and drug safety assessment. He has played key roles in the discovery and development of several drug candidates, including cancer and central nervous system indications at CytoMed, Inc., LeukoSite, Inc., and Millennium Pharmaceuticals, Inc.
Noted Passeri, "Dr. Qian brings tremendous experience and scientific leadership to his new role. He has been an invaluable asset to Curis, both in his guidance surrounding Curis' programs under collaboration, and in his leadership in directing Curis' wholly-owned and proprietary multi-targeted inhibitor (MTI) programs. We are extremely pleased to have someone of Dr. Qian's caliber leading these scientific efforts."
Michael Gray Appointed COO and Dr. Changgeng Qian Promoted to the
Position of Vice President, Discovery and Preclinical Development
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 20, 2006--Curis, Inc. (NASDAQ: CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, today announced recent promotions within its management team infrastructure. The changes were made to better align the management structure with Curis' ongoing strategy of deemphasizing early stage discovery research and seeking instead to develop proprietary later stage preclinical and, ultimately, clinical assets. The first such later stage program is a platform of proprietary cancer programs that target multiple validated cancer pathways. This platform is currently in preclinical testing and Curis expects to select the first lead clinical candidate in early 2007 and file an Investigational New Drug (IND) application during the second half of 2007.
Management Promotions
Michael P. Gray, who most recently held the position of Senior Vice President of Finance and Chief Financial Officer, will assume the additional role of Chief Operating Officer, while retaining the responsibilities and title of Chief Financial Officer. Gray will continue to have primary responsibility over a majority of Curis' administrative functions and will now have a greater role in aligning Curis' promising drug development programs with the company's overall corporate objectives and operating budget.
"Mike Gray has been an important part of the Curis team and has consistently demonstrated strong management and leadership skills during his tenure," said Dan Passeri, President and Chief Executive Officer of Curis. "He has provided solid financial and administrative oversight throughout his three years as Curis' Chief Financial Officer and was also instrumental in implementing various aspects of our recent entry into China. I will be looking to Mike to lead the coordination of the company's drug development and administrative efforts as we seek to move our drug programs into later stages of development in a highly effective and cost-efficient manner."
In addition, Curis recently promoted Dr. Changgeng Qian to the position of Vice President, Discovery and Preclinical Development. Dr. Qian joined Curis in 2001, bringing more than 25 years of academic and industrial experience in drug discovery, including pharmacokinetics, drug metabolism, efficacy evaluation, experimental disease model development and drug safety assessment. He has played key roles in the discovery and development of several drug candidates, including cancer and central nervous system indications at CytoMed, Inc., LeukoSite, Inc., and Millennium Pharmaceuticals, Inc.
Noted Passeri, "Dr. Qian brings tremendous experience and scientific leadership to his new role. He has been an invaluable asset to Curis, both in his guidance surrounding Curis' programs under collaboration, and in his leadership in directing Curis' wholly-owned and proprietary multi-targeted inhibitor (MTI) programs. We are extremely pleased to have someone of Dr. Qian's caliber leading these scientific efforts."
03.01.07 17:42
#13
soros
hopp hopp
Börse
NASDAQ
Aktuell
1,35 USD
Zeit
03.01.07 17:23
Diff. Vortag
+7,14 %
Tages-Vol.
141.444,35
Gehandelte Stück
154.794
Auf deutsch mit babelfish:
Mike ist Grau ein wichtiges Teil der Curis Mannschaft gewesen und hat durchweg starkes Management gezeigt und Führungfähigkeiten während seines Besitzes, "sagte Dan Passeri, Präsident und Generaldirektor von Curis. "er hat feste finanzielle und administrative Aufsicht während seiner drei Jahre als Curis' Finanzleiter zur Verfügung gestellt und war auch instrumentell, wenn er verschiedene Aspekte unserer neuen Eintragung in China einführte. Ich werde zu Mike schauen, um die Korrdination der Drogeder entwicklung Firma und der administrativen Bemühungen zu führen, während wir suchen, unsere Drogeprogramme in neuere Stadien der Entwicklung in einer in hohem Grade wirkungsvollen und Kosten-leistungsfähigen Weise zu verschieben."
Börse
NASDAQ
Aktuell
1,35 USD
Zeit
03.01.07 17:23
Diff. Vortag
+7,14 %
Tages-Vol.
141.444,35
Gehandelte Stück
154.794
Auf deutsch mit babelfish:
Mike ist Grau ein wichtiges Teil der Curis Mannschaft gewesen und hat durchweg starkes Management gezeigt und Führungfähigkeiten während seines Besitzes, "sagte Dan Passeri, Präsident und Generaldirektor von Curis. "er hat feste finanzielle und administrative Aufsicht während seiner drei Jahre als Curis' Finanzleiter zur Verfügung gestellt und war auch instrumentell, wenn er verschiedene Aspekte unserer neuen Eintragung in China einführte. Ich werde zu Mike schauen, um die Korrdination der Drogeder entwicklung Firma und der administrativen Bemühungen zu führen, während wir suchen, unsere Drogeprogramme in neuere Stadien der Entwicklung in einer in hohem Grade wirkungsvollen und Kosten-leistungsfähigen Weise zu verschieben."
04.01.07 15:23
#14
soros
Orderbücher beobachten (curis und broadvision)
was in usa auffällt, das die anzahl der orders immer mehr steigt:267.317,74 USD Volumen 601 Anzahl Kurse bei curis inc. ...viele viele kleine orders im minutentakt? das sieht bei iner broadvision z.B. ganz anders aus, da sind anzahl kurse 140 aber 516.350,66 USD Volumen!bei broadi tut sich defintiv was!
Datum: 03.01.07
Tickliste Zeit Kurs Volumen
21:59:51 1,2501 4200
21:59:41 1,2500 400
21:59:00 1,2500 100
21:57:39 1,2600 100
21:57:05 1,2600 134
21:56:51 1,2600 100
21:56:22 1,2600 600
21:56:22 1,2600 200
21:56:11 1,2600 200
21:56:11 1,2600 200
21:56:10 1,2600 5000
21:56:10 1,2600 500
21:56:10 1,2600 200
21:56:10 1,2600 200
21:56:10 1,2600 100
21:55:21 1,2600 200
21:55:17 1,2600 1100
21:55:17 1,2600 200
21:55:16 1,2600 700
21:55:16 1,2600 400
21:55:16 1,2600 100
21:55:16 1,2600 200
21:55:16 1,2600 200
21:55:16 1,2600 100
21:53:42 1,2600 100
21:53:42 1,2600 200
21:53:42 1,2600 200
21:53:39 1,2599 3000
21:52:30 1,2500 400
21:52:24 1,2600 100
21:52:24 1,2600 200
21:52:24 1,2600 100
21:51:10 1,2600 200
21:50:50 1,2600 200
21:50:50 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:02 1,2700 100
21:49:38 1,2700 100
21:49:38 1,2700 300
21:49:38 1,2700 100
21:49:27 1,2600 200
21:49:27 1,2600 100
21:49:27 1,2600 100
21:47:42 1,2600 100
21:47:25 1,2600 2000
21:45:50 1,2600 100
21:43:17 1,2600 100
21:40:45 1,2600 1590
21:37:53 1,2600 2000
21:37:07 1,2600 800
21:36:40 1,2600 100
21:36:40 1,2600 200
21:36:40 1,2600 200
21:36:40 1,2600 100
21:36:39 1,2600 100
21:36:39 1,2600 200
21:36:39 1,2600 100
21:34:10 1,2600 100
21:33:28 1,2600 100
21:32:26 1,2600 200
21:32:14 1,2600 100
21:32:14 1,2600 300
21:32:14 1,2600 4300
21:32:14 1,2600 100
BroadVision:
Datum: 03.01.07
Tickliste Zeit Kurs Volumen
21:52:39 0,8000 10000
21:52:22 0,8000 7500
21:49:12 0,8000 10000
21:44:49 0,8000 7500
21:38:15 0,8000 2500
21:25:25 0,8000 1000
21:24:23 0,8000 8000
21:21:51 0,8000 2000
21:17:30 0,8000 2500
21:17:11 0,8000 25000
21:16:36 0,8000 2500
21:16:33 0,8000 2500
21:16:32 0,8000 10000
21:12:37 0,8000 3000
21:09:09 0,8000 4739
21:08:52 0,8099 10000
21:07:09 0,8100 8319
21:06:37 0,8000 5000
21:05:44 0,8000 3000
21:05:23 0,8000 2500
21:05:15 0,8100 2800
21:05:09 0,8100 2719
21:05:09 0,8100 2800
21:03:51 0,8100 3000
21:01:20 0,8100 2500
21:01:01 0,8000 2500
21:00:36 0,8100 2500
21:00:23 0,8100 2500
21:00:22 0,8100 2500
20:59:44 0,8000 2500
20:59:00 0,8100 2500
20:58:55 0,8100 2500
20:58:52 0,8100 2500
Datum: 03.01.07
Tickliste Zeit Kurs Volumen
21:59:51 1,2501 4200
21:59:41 1,2500 400
21:59:00 1,2500 100
21:57:39 1,2600 100
21:57:05 1,2600 134
21:56:51 1,2600 100
21:56:22 1,2600 600
21:56:22 1,2600 200
21:56:11 1,2600 200
21:56:11 1,2600 200
21:56:10 1,2600 5000
21:56:10 1,2600 500
21:56:10 1,2600 200
21:56:10 1,2600 200
21:56:10 1,2600 100
21:55:21 1,2600 200
21:55:17 1,2600 1100
21:55:17 1,2600 200
21:55:16 1,2600 700
21:55:16 1,2600 400
21:55:16 1,2600 100
21:55:16 1,2600 200
21:55:16 1,2600 200
21:55:16 1,2600 100
21:53:42 1,2600 100
21:53:42 1,2600 200
21:53:42 1,2600 200
21:53:39 1,2599 3000
21:52:30 1,2500 400
21:52:24 1,2600 100
21:52:24 1,2600 200
21:52:24 1,2600 100
21:51:10 1,2600 200
21:50:50 1,2600 200
21:50:50 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:47 1,2600 200
21:50:02 1,2700 100
21:49:38 1,2700 100
21:49:38 1,2700 300
21:49:38 1,2700 100
21:49:27 1,2600 200
21:49:27 1,2600 100
21:49:27 1,2600 100
21:47:42 1,2600 100
21:47:25 1,2600 2000
21:45:50 1,2600 100
21:43:17 1,2600 100
21:40:45 1,2600 1590
21:37:53 1,2600 2000
21:37:07 1,2600 800
21:36:40 1,2600 100
21:36:40 1,2600 200
21:36:40 1,2600 200
21:36:40 1,2600 100
21:36:39 1,2600 100
21:36:39 1,2600 200
21:36:39 1,2600 100
21:34:10 1,2600 100
21:33:28 1,2600 100
21:32:26 1,2600 200
21:32:14 1,2600 100
21:32:14 1,2600 300
21:32:14 1,2600 4300
21:32:14 1,2600 100
BroadVision:
Datum: 03.01.07
Tickliste Zeit Kurs Volumen
21:52:39 0,8000 10000
21:52:22 0,8000 7500
21:49:12 0,8000 10000
21:44:49 0,8000 7500
21:38:15 0,8000 2500
21:25:25 0,8000 1000
21:24:23 0,8000 8000
21:21:51 0,8000 2000
21:17:30 0,8000 2500
21:17:11 0,8000 25000
21:16:36 0,8000 2500
21:16:33 0,8000 2500
21:16:32 0,8000 10000
21:12:37 0,8000 3000
21:09:09 0,8000 4739
21:08:52 0,8099 10000
21:07:09 0,8100 8319
21:06:37 0,8000 5000
21:05:44 0,8000 3000
21:05:23 0,8000 2500
21:05:15 0,8100 2800
21:05:09 0,8100 2719
21:05:09 0,8100 2800
21:03:51 0,8100 3000
21:01:20 0,8100 2500
21:01:01 0,8000 2500
21:00:36 0,8100 2500
21:00:23 0,8100 2500
21:00:22 0,8100 2500
20:59:44 0,8000 2500
20:59:00 0,8100 2500
20:58:55 0,8100 2500
20:58:52 0,8100 2500
12.01.07 10:39
#17
soros
curis klettert langsam raaauuf
Thu, Jan 04, 2007
FILING Annual statement of changes in beneficial ownership of securities - Form 5
Tue, Dec 26, 2006
FILING Report of unscheduled material events or corporate changes - Form 8-K
Wed, Dec 20, 2006
8:04 AM Curis Announces Key Management Promotions - Business Wire
FILING Annual statement of changes in beneficial ownership of securities - Form 5
Tue, Dec 26, 2006
FILING Report of unscheduled material events or corporate changes - Form 8-K
Wed, Dec 20, 2006
8:04 AM Curis Announces Key Management Promotions - Business Wire
07.02.07 21:38
#23
soros
Termin:14 Februar 2007
February 1, 2007 - 8:04 AM EST
CRIS 1.51 0.01
Curis to Release Year End and Fourth Quarter 2007 Financial Results and Hold Conference Call on February 14, 2007
Curis, Inc. (NASDAQ: CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, will release its year end and fourth quarter financial results on Wednesday, February 14, 2007 before the market opens. The Company will also hold a conference call at 10:00 a.m. Eastern on the 14th to discuss the financial results, progress of its therapeutic product development programs, and additional corporate activities. Daniel Passeri, President and Chief Executive Officer of Curis, will host the call.
To access the live conference call, please call (800) 659-2032 from the United States and Canada or (617) 614-2712 from additional International locations, shortly before 10:00 A.M. The conference ID number is 81229487. Replay will be available approximately two hours after the completion of the call and through 5:00 P.M. EST, Wednesday, February 28, 2007. To access the replay, please call (888) 286-8010 from the United States and Canada or (617) 801-6888 from other locations and reference the conference ID number 50926099.
About Curis, Inc.
Curis is a drug discovery and development company that is committed to leveraging its innovative signaling pathway drug technologies to create new medicines for cancer. In expanding its drug development efforts in the field of cancer through its Targeted Cancer Drug Development Platform, the Company is building upon its previous experiences in targeting signaling pathways in the areas of cancer, neurological disease, hair growth regulation and cardiovascular disease. For more information, please visit www.curis.com.
Curis, Inc.
Michael P. Gray, 617-503-6632
CFO/COO
mgray@curis.com
or
For Curis, Inc.
Jenny Viscarolasaga, 617-503-6658
Jenny@tworoadscommunications.com
Source: Business Wire (February 1, 2007 - 8:04 AM EST)
News by QuoteMedia
CRIS 1.51 0.01
Curis to Release Year End and Fourth Quarter 2007 Financial Results and Hold Conference Call on February 14, 2007
Curis, Inc. (NASDAQ: CRIS), a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, will release its year end and fourth quarter financial results on Wednesday, February 14, 2007 before the market opens. The Company will also hold a conference call at 10:00 a.m. Eastern on the 14th to discuss the financial results, progress of its therapeutic product development programs, and additional corporate activities. Daniel Passeri, President and Chief Executive Officer of Curis, will host the call.
To access the live conference call, please call (800) 659-2032 from the United States and Canada or (617) 614-2712 from additional International locations, shortly before 10:00 A.M. The conference ID number is 81229487. Replay will be available approximately two hours after the completion of the call and through 5:00 P.M. EST, Wednesday, February 28, 2007. To access the replay, please call (888) 286-8010 from the United States and Canada or (617) 801-6888 from other locations and reference the conference ID number 50926099.
About Curis, Inc.
Curis is a drug discovery and development company that is committed to leveraging its innovative signaling pathway drug technologies to create new medicines for cancer. In expanding its drug development efforts in the field of cancer through its Targeted Cancer Drug Development Platform, the Company is building upon its previous experiences in targeting signaling pathways in the areas of cancer, neurological disease, hair growth regulation and cardiovascular disease. For more information, please visit www.curis.com.
Curis, Inc.
Michael P. Gray, 617-503-6632
CFO/COO
mgray@curis.com
or
For Curis, Inc.
Jenny Viscarolasaga, 617-503-6658
Jenny@tworoadscommunications.com
Source: Business Wire (February 1, 2007 - 8:04 AM EST)
News by QuoteMedia
07.02.07 22:19
#24
soros
Termine:14.Februar und 28 Februar-Curis Inc.
Also bei 49Mio Aktien am Markt,könnte es schnell mal wieder auf 5USD schießen, durch die neuen china investitionen wirds um einiges spannnender!
1.Curis to Release Year End and Fourth Quarter 2007 Financial Results and Hold Conference Call on February 14, 2007
2.Wednesday, February 28, 2007. To access the replay, please call (888) 286-8010 from the United States and Canada or (617) 801-6888 from other locations and reference the conference ID number 50926099.
1.Curis to Release Year End and Fourth Quarter 2007 Financial Results and Hold Conference Call on February 14, 2007
2.Wednesday, February 28, 2007. To access the replay, please call (888) 286-8010 from the United States and Canada or (617) 801-6888 from other locations and reference the conference ID number 50926099.
Angehängte Grafik:
Curis!.png (verkleinert auf 49%)
Curis!.png (verkleinert auf 49%)
13.02.07 21:04
#26
soros
13Febr.2007
JOINT FILING UNDERTAKING
The undersigned, being authorized thereunto, hereby
execute this agreement as an exhibit to this Schedule 13G to
evidence the agreement of the below-named parties, in accordance
with rules promulgated pursuant to the Securities Exchange Act of
1934, to file this Schedule, as it may be amended, jointly on
behalf of each of such parties...
mal schauen was morgen bekannt gegeben wird??
The undersigned, being authorized thereunto, hereby
execute this agreement as an exhibit to this Schedule 13G to
evidence the agreement of the below-named parties, in accordance
with rules promulgated pursuant to the Securities Exchange Act of
1934, to file this Schedule, as it may be amended, jointly on
behalf of each of such parties...
mal schauen was morgen bekannt gegeben wird??
14.02.07 12:52
#27
soros
Curis in die Watschliste nehmen?
bin mal gespannt, was curis heute bekannt gibt?
letzten news:
Tue, Feb 13, 2007
FILING An amendment to the SC 13G filing - Form SC 13G/A
FILING A statement of beneficial ownership of common stock by certain persons - Form SC 13G
Thu, Feb 01, 2007
8:04 AM Curis to Release Year End and Fourth Quarter 2007 Financial Results and Hold Conference Call on February 14, 2007 - Business Wire
Wed, Jan 31, 2007
8:10 AM Curis, Inc. Announces Dosing of First Patient in Hedgehog Antagonist Phase I Clinical Trial - Business
letzten news:
Tue, Feb 13, 2007
FILING An amendment to the SC 13G filing - Form SC 13G/A
FILING A statement of beneficial ownership of common stock by certain persons - Form SC 13G
Thu, Feb 01, 2007
8:04 AM Curis to Release Year End and Fourth Quarter 2007 Financial Results and Hold Conference Call on February 14, 2007 - Business Wire
Wed, Jan 31, 2007
8:10 AM Curis, Inc. Announces Dosing of First Patient in Hedgehog Antagonist Phase I Clinical Trial - Business
14.02.07 16:42
#28
soros
News
February 14, 2007 - 8:03 AM EST
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CRIS 1.52 0.01
Today 5d 1m 3m 1y 5y 10y
Curis Reports Fourth Quarter and Year-End 2006 Financial Results
Curis, Inc. (NASDAQ:CRIS), a drug development company focusing on signaling pathway drug technologies to create new medicines primarily for cancer, today reported its financial results for the fourth quarter and fiscal year ended December 31, 2006.
For the fourth quarter of 2006, Curis reported net income of $680,000, or $0.01 per share (on both a basic and fully diluted basis) as compared to a net loss of $1,365,000, or ($0.03) per share for the same period in the prior year.
Net revenues for the fourth quarter of 2006 were $6,068,000 as compared to $3,509,000 for the fourth quarter of 2005, an increase of $2,559,000, or 73%. The increase in net revenues was primarily due to $3,000,000 in substantive milestone revenue associated with Genentech’s filing in October 2006 of an Investigational New Drug application with the FDA to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer. In addition, during the fourth quarter of 2006, Curis did not record any co-development costs under its basal cell carcinoma co-development arrangement with Genentech, which ended in August 2006. During the fourth quarter of 2005, the Company recorded $1,301,000 in co-development costs under such arrangement with Genentech, which were recorded as a reduction to revenues. These increases in net revenues in the fourth quarter of 2006 were partially offset by a $1,743,000 decrease in our research and development and license fee revenues.
Operating expenses for the fourth quarter of 2006 were $5,819,000 as compared to $5,263,000 for the fourth quarter of 2005, an increase of $556,000, or 11%. The primary changes in the Company’s research and development and general and administrative expenses are as follows:
Research and development spending increased to $3,595,000 for the fourth quarter of 2006 as compared to $3,295,000 for the same period in 2005. Spending increased primarily for the Company’s Targeted Drug Development Cancer Platform, which includes a series of new programs focusing on the development of multi-targeted inhibitors of validated cancer pathways. These increases were offset by decreases in spending on a majority of Curis' other research programs. In addition, we recognized an impairment charge of approximately $150,000 in the fourth quarter of 2006 related to the disposal of assets that are no longer used in operations, primarily assets used to conduct discovery research activities.
General and administrative spending was $2,224,000 for the fourth quarter of 2006 as compared to $1,949,000 for the same period in 2005, an increase of $275,000, or 14%. The increase in general and administrative expenses was principally due to an increase of $622,000 in stock-based compensation expense during the fourth quarter of 2006 as a result of the Company's adoption on January 1, 2006 of Statement of Financial Accounting Standards No. 123R, Share-Based Payments (SFAS 123R). This increase was partially offset by decreases in certain general and administrative cost categories, including a $191,000 decrease in legal costs incurred during the fourth quarter of 2006 as compared to the same period in 2005.
Other income for the fourth quarter of 2006 was $431,000 as compared to $389,000 for the same period in 2005, an increase of $42,000, or 11%.
Net loss for the year ended December 31, 2006 was $8,829,000 or ($0.18) per share as compared to $14,855,000 or ($0.31) per share for the year ended December 31, 2005.
Net revenues for the year ended December 31, 2006 were $14,936,000 as compared to $6,002,000 for 2005, an increase of $8,934,000, or 149%. The increase in net revenues was primarily due to a $5,271,000 decrease in contra-revenues recorded by the Company in 2006 as compared to 2005 under its basal cell carcinoma co-development arrangement with Genentech, which ended in August 2006. During 2006 and 2005, the Company recorded $1,728,000 and $6,999,000 in co-development costs, respectively, which were recorded as a reduction to revenues. In addition, in the fourth quarter of 2006, the Company recorded $3,000,000 in substantive milestone revenue associated with Genentech’s filing of an IND with the FDA to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer.
Operating expenses for the year ended December 31, 2006 were $24,991,000 as compared to $21,870,000 for the prior year, an increase of $3,121,000, or 14%. The primary changes in our research and development and general and administrative expenses are as follows:
Research and development spending increased by $885,000, or 6%, to $14,590,000 for 2006 as compared to $13,705,000 for 2005. Spending primarily increased for our Targeted Drug Development Cancer Platform, which includes a series of new programs focusing on the development of multi-targeted inhibitors of validated cancer pathways. These increases were offset by decreases in spending on a majority of Curis' other research programs.
General and administrative spending was $10,374,000 for 2006 as compared to $8,090,000 for 2005, an increase of $2,284,000, or 28%. The increase in general and administrative expenses was principally due to an increase of $2,650,000 in stock-based compensation expense recorded during 2006 as a result of the Company's adoption on January 1, 2006 of SFAS 123R.
Other income for the year ended December 31, 2006 was $1,226,000 as compared to other income of $1,012,000 for the year ended December 31, 2005, an increase of $214,000, or 21%. The increase was principally due to a $381,000 increase in interest income, offset in part by a decrease of $112,000 in interest expense in 2006 as compared to 2005.
As of December 31, 2006, Curis’ cash, cash equivalents and marketable securities were $36,656,000 and there were 49,333,854 shares of common stock outstanding.
2007 Financial Guidance
The Company expects that its existing cash, cash equivalents and marketable securities, together with contractually defined cash payments that Curis expects to receive under its collaborations, assuming such collaborations continue in accordance with their terms, will be sufficient to support its current operating plans into the second half of 2008. The Company expects to end 2007 with cash, cash equivalents and marketable securities of between $20,000,000 and $23,000,000.
The Company expects that its 2007 gross revenues from existing collaborators will be in a range of $4,000,000 to $5,000,000, excluding any future development milestones and assuming such collaborations continue in accordance with their terms. The Company expects that its 2007 research and development expenses will be between $12,500,000 and $15,000,000 and that its general and administrative expenses will be in a range of $9,900,000 to $11,200,000. These expense projections include between $500,000 and $700,000 and between $1,900,000 and $2,200,000 in stock-based compensation expense that is attributable to share-based awards outstanding at December 31, 2006, for research and development and general and administrative expense, respectively. Actual 2007 stock-based compensation expense may be higher since the Company expects to issue additional share-based awards in 2007 as part of its planned compensation programs, consistent with past practices. The amount of stock-based compensation expense allocable to Curis’ 2007 share-based awards will be based on a number of factors, including the number of stock awards issued in 2007, the fair market value of the Company’s common stock at the respective grant dates, and the specific terms of the stock award, and the key assumptions used in the valuation of the awards.
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Curis Reports Fourth Quarter and Year-End 2006 Financial Results
Curis, Inc. (NASDAQ:CRIS), a drug development company focusing on signaling pathway drug technologies to create new medicines primarily for cancer, today reported its financial results for the fourth quarter and fiscal year ended December 31, 2006.
For the fourth quarter of 2006, Curis reported net income of $680,000, or $0.01 per share (on both a basic and fully diluted basis) as compared to a net loss of $1,365,000, or ($0.03) per share for the same period in the prior year.
Net revenues for the fourth quarter of 2006 were $6,068,000 as compared to $3,509,000 for the fourth quarter of 2005, an increase of $2,559,000, or 73%. The increase in net revenues was primarily due to $3,000,000 in substantive milestone revenue associated with Genentech’s filing in October 2006 of an Investigational New Drug application with the FDA to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer. In addition, during the fourth quarter of 2006, Curis did not record any co-development costs under its basal cell carcinoma co-development arrangement with Genentech, which ended in August 2006. During the fourth quarter of 2005, the Company recorded $1,301,000 in co-development costs under such arrangement with Genentech, which were recorded as a reduction to revenues. These increases in net revenues in the fourth quarter of 2006 were partially offset by a $1,743,000 decrease in our research and development and license fee revenues.
Operating expenses for the fourth quarter of 2006 were $5,819,000 as compared to $5,263,000 for the fourth quarter of 2005, an increase of $556,000, or 11%. The primary changes in the Company’s research and development and general and administrative expenses are as follows:
Research and development spending increased to $3,595,000 for the fourth quarter of 2006 as compared to $3,295,000 for the same period in 2005. Spending increased primarily for the Company’s Targeted Drug Development Cancer Platform, which includes a series of new programs focusing on the development of multi-targeted inhibitors of validated cancer pathways. These increases were offset by decreases in spending on a majority of Curis' other research programs. In addition, we recognized an impairment charge of approximately $150,000 in the fourth quarter of 2006 related to the disposal of assets that are no longer used in operations, primarily assets used to conduct discovery research activities.
General and administrative spending was $2,224,000 for the fourth quarter of 2006 as compared to $1,949,000 for the same period in 2005, an increase of $275,000, or 14%. The increase in general and administrative expenses was principally due to an increase of $622,000 in stock-based compensation expense during the fourth quarter of 2006 as a result of the Company's adoption on January 1, 2006 of Statement of Financial Accounting Standards No. 123R, Share-Based Payments (SFAS 123R). This increase was partially offset by decreases in certain general and administrative cost categories, including a $191,000 decrease in legal costs incurred during the fourth quarter of 2006 as compared to the same period in 2005.
Other income for the fourth quarter of 2006 was $431,000 as compared to $389,000 for the same period in 2005, an increase of $42,000, or 11%.
Net loss for the year ended December 31, 2006 was $8,829,000 or ($0.18) per share as compared to $14,855,000 or ($0.31) per share for the year ended December 31, 2005.
Net revenues for the year ended December 31, 2006 were $14,936,000 as compared to $6,002,000 for 2005, an increase of $8,934,000, or 149%. The increase in net revenues was primarily due to a $5,271,000 decrease in contra-revenues recorded by the Company in 2006 as compared to 2005 under its basal cell carcinoma co-development arrangement with Genentech, which ended in August 2006. During 2006 and 2005, the Company recorded $1,728,000 and $6,999,000 in co-development costs, respectively, which were recorded as a reduction to revenues. In addition, in the fourth quarter of 2006, the Company recorded $3,000,000 in substantive milestone revenue associated with Genentech’s filing of an IND with the FDA to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer.
Operating expenses for the year ended December 31, 2006 were $24,991,000 as compared to $21,870,000 for the prior year, an increase of $3,121,000, or 14%. The primary changes in our research and development and general and administrative expenses are as follows:
Research and development spending increased by $885,000, or 6%, to $14,590,000 for 2006 as compared to $13,705,000 for 2005. Spending primarily increased for our Targeted Drug Development Cancer Platform, which includes a series of new programs focusing on the development of multi-targeted inhibitors of validated cancer pathways. These increases were offset by decreases in spending on a majority of Curis' other research programs.
General and administrative spending was $10,374,000 for 2006 as compared to $8,090,000 for 2005, an increase of $2,284,000, or 28%. The increase in general and administrative expenses was principally due to an increase of $2,650,000 in stock-based compensation expense recorded during 2006 as a result of the Company's adoption on January 1, 2006 of SFAS 123R.
Other income for the year ended December 31, 2006 was $1,226,000 as compared to other income of $1,012,000 for the year ended December 31, 2005, an increase of $214,000, or 21%. The increase was principally due to a $381,000 increase in interest income, offset in part by a decrease of $112,000 in interest expense in 2006 as compared to 2005.
As of December 31, 2006, Curis’ cash, cash equivalents and marketable securities were $36,656,000 and there were 49,333,854 shares of common stock outstanding.
2007 Financial Guidance
The Company expects that its existing cash, cash equivalents and marketable securities, together with contractually defined cash payments that Curis expects to receive under its collaborations, assuming such collaborations continue in accordance with their terms, will be sufficient to support its current operating plans into the second half of 2008. The Company expects to end 2007 with cash, cash equivalents and marketable securities of between $20,000,000 and $23,000,000.
The Company expects that its 2007 gross revenues from existing collaborators will be in a range of $4,000,000 to $5,000,000, excluding any future development milestones and assuming such collaborations continue in accordance with their terms. The Company expects that its 2007 research and development expenses will be between $12,500,000 and $15,000,000 and that its general and administrative expenses will be in a range of $9,900,000 to $11,200,000. These expense projections include between $500,000 and $700,000 and between $1,900,000 and $2,200,000 in stock-based compensation expense that is attributable to share-based awards outstanding at December 31, 2006, for research and development and general and administrative expense, respectively. Actual 2007 stock-based compensation expense may be higher since the Company expects to issue additional share-based awards in 2007 as part of its planned compensation programs, consistent with past practices. The amount of stock-based compensation expense allocable to Curis’ 2007 share-based awards will be based on a number of factors, including the number of stock awards issued in 2007, the fair market value of the Company’s common stock at the respective grant dates, and the specific terms of the stock award, and the key assumptions used in the valuation of the awards.