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Curis, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The report details the company's focus on the development of emavusertib, a small molecule inhibitor targeting IRAK4, with ongoing clinical trials including the TakeAim Leukemia Phase 1/2 study and the TakeAim Lymphoma Phase 1/2 study.
Curis reported revenues of $2,931,000 for the quarter, primarily from royalties on Erivedge sales, marking a slight increase from $2,833,000 in the same quarter of the previous year.
Research and development expenses were $9,723,000, a decrease from $10,380,000 in the previous year, attributed to lower consulting and employee-related costs.
General and administrative expenses decreased to $3,753,000 from $4,761,000, primarily due to reduced legal and employee-related costs.
The company reported a net loss of $10,092,000 for the quarter, compared to a net loss of $12,181,000 in the previous year.
Curis had cash and cash equivalents of $20,854,000 as of September 30, 2024, and anticipates funding operations into mid-2025 with the proceeds from recent offerings.
The filing outlines potential risks, including the need for additional capital to fund operations and the potential impact of litigation related to the Oberland Purchase Agreement.
Curis is seeking additional funding through equity financings, collaborations, or strategic transactions to support its ongoing research and development efforts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Curis Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.