) shares gained 7.7% immediately after fourth quarter results
were announced. Overall, shares are up 8.8% since earnings were
Curis reported fourth quarter 2013 net loss per share of 5
cents, narrower than the Zacks Consensus Estimate of a loss of 7
cents and the year-ago loss of 15 cents per share.
Fourth quarter revenues were $1.5 million, up 10.6% from the
year-ago quarter. Revenues missed the Zacks Consensus Estimate of
$2 million. Fourth quarter revenues primarily consisted of $1.4
million of Erivedge royalty revenues.
Erivedge, commercialized and developed by
) under a collaboration agreement between Curis and Genentech, is
approved for the treatment of advanced basal cell carcinoma
Research and development expenses increased 9.4% year over
year to $3 million. General and administrative expenses rose 3.2%
year over year to $3 million.
Curis reported 2013 loss of 15 cents per share, narrower than
the Zacks Consensus Estimate of a loss of 17 cents and the 2012
loss of 21 cents per share.
Full year revenues were $15 million, beating the Zacks
Consensus Estimate of $14 million. Revenues in 2012 were $17
million. Revenues fell in 2013 due to a decline in license
In Dec 2013, Curis presented interim data from a phase I study
on CUDC-907 in patients with relapsed or refractory lymphoma or
multiple myeloma. By mid-2014, Curis expects the completion of
the dose escalation phase and determination of a recommended dose
for future studies. Curis will commence enrollment in expansion
cohorts in the second half of 2014.
In Feb 2014, Curis submitted the response and amended protocol
to the Food and Drug Administration (FDA) regarding the partial
clinical hold placed on CUDC-427 in Nov 2013. In case the partial
clinical hold by the FDA is lifted, Curis expects to re-start
enrollment in the monotherapy study and also start a phase Ib/II
study in HER-2 negative advanced breast cancer
Curis currently carries a Zacks Rank #3 (Hold). Investors
looking for better-ranked stocks in the pharma sector may
consider companies like
Forest Laboratories Inc.
Lannett Co., Inc.
). Forest Labs carries a Zacks Rank #2 (Buy) while Lannett
carries a Zacks Rank #1 (Strong Buy).
CURIS INC (CRIS): Free Stock Analysis Report
FOREST LABS A (FRX): Free Stock Analysis
LANNETT INC (LCI): Free Stock Analysis Report
ROCHE HLDG LTD (RHHBY): Free Stock Analysis
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