On January 06, Curis Inc. (CRIS) announced updated data from Phase ½ Study of CA-4948 and initial clinical data from Phase 1 Study of CI-8993. Consequently, the stock became bullish in the pre-market while it was in the red during regular trading.
In the regular session, CRIS stock lost a huge 27.64% at its closing price of $3.4950 at 9.72 million shares. Following the announcement, the stock recovered to gain 5.58% in the pre-market. Hence, the stock was trading at $3.69 per share.
CRIS’ Data Updates
On Thursday, the company provided positive updated data from its ongoing open-label Phase ½ study of CA-4948. This trial is studying CA-4948 as monotherapy in relapsed or refractory (R/R) acute myeloid leukemia (AML) or high-risk myelodysplastic syndromes (MDS). Moreover, CRIS also provided initial clinical data from the Phase 1 study of CI-8993 in patients with R/R solid tumors.
CA-4948 Data
According to the data, CA-4948 demonstrated a well-tolerated general safety profile at multiple dose levels. In addition, there were no irreversible or unmanageable adverse events.
Previously, the company had provided the efficacy data of CA-4948 in patients with FLT3 mutation. The expanded data set of this patient population also demonstrated a favorable safety and anti-cancer activity profile. Hence, the company plans to start discussions with the FDA for a rapid registrational path for CA-4948, in the first half of 2022. Furthermore, CRIS would be providing additional data from the study at a medical meeting in 2022.
CI-8993 Data
As per the preliminary preclinical data, CI-8993 has so far demonstrated a general safety profile and no toxicities related to dosage. So far, the trial has successfully dose-escalated without any irreversible treatment-related adverse event.
Further, the company will provide expanded data from the trial in the second half of 2022.
CRIS: Q3 Financial Results
On November 09, the company declared its financial results for the third quarter of 2021, which ended on September 30.
In the third quarter of 2021, the net loss of the company was $11.1 million, against $6.0 million in Q3 of 2020. Resultantly, the net loss per basic share was $0.12 in the third quarter of 2021, against $0.11 in the year-ago quarter.
CRIS generated revenue of $3.0 million in the third quarter of 2021 against $2.7 million in Q3 of 2020.
