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1. Company Snapshot

1.a. Company Description

Curis, Inc., a biotechnology company, engages in the discovery and development of drug candidates for the treatment of human cancers in the United States.Its clinical stage drug candidates include Emavusertib, an oral small molecule drug candidate, which is in a Phase 1/2 clinical trial for the treatment of non-hodgkin lymphomas, and acute myeloid leukemia and myelodysplastic syndromes; and CI-8993, a monoclonal antibody designed to antagonize the V-domain Ig suppressor of T cell activation.The company's pipeline also includes Fimepinostat, an oral dual inhibitor of HDAC and PI3K enzymes for the treatment of patients with MYC-altered diffuse large B-cell lymphoma; CA-170, an oral small molecule drug candidate for treating patients with advanced solid tumors and lymphomas; and CA-327, a pre-investigational new drug stage oncology drug candidate.


It has collaboration agreement with F.Hoffmann-La Roche Ltd.and Genentech Inc.


for the development and commercialization of Erivedge, an orally-administered small molecule hedgehog signaling pathway inhibitor for the treatment of advanced basal cell carcinoma; and with Aurigene Discovery Technologies Limited for the discovery, development, and commercialization of small molecule compounds in the areas of immuno-oncology and precision oncology.Curis, Inc.was incorporated in 2000 and is headquartered in Lexington, Massachusetts.

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1.b. Last Insights on CRIS

Curis, Inc.'s recent performance was negatively impacted by the lack of significant clinical trial results from the TakeAim Leukemia study, which failed to demonstrate substantial efficacy in treating relapsed/refractory Acute Myeloid Leukemia (AML). The study's data, presented at the 66th ASH annual meeting, showed that emavusertib (CA-4948) did not meet the primary endpoint. This negative news likely weighed on investors' expectations, particularly after the company's recent efforts to revive its pipeline.

1.c. Company Highlights

2. Curis' Q3 2025 Earnings: A Closer Look at Financials and Pipeline Progress

Curis reported a net loss of $7.7 million or $0.49 per share for the third quarter of 2025, compared to a net loss of $10.1 million or $1.70 per share for the same period in 2024. The actual EPS of -$0.49 beat estimates of -$0.62. Research and development expenses decreased by 34% to $6.4 million, and general and administrative expenses decreased by 3% to $3.7 million.

Publication Date: Nov -12

📋 Highlights
  • Q3 2025 Net Loss Reduced:: Net loss decreased to $7.7M ($0.49/share) from $10.1M ($1.70/share) in Q3 2024.
  • R&D Cost Efficiency:: Research & development expenses dropped 34% to $6.4M, while G&A fell 3% to $3.7M.
  • Cash Reserves Extend to 2026:: $9.1M in cash as of Q3 2025 is projected to fund operations through 2026.
  • TakeAim Lymphoma Trial Expansion:: Enrollment to continue for 12–18 months to support accelerated U.S. and EU submissions.
  • CLL Study Design:: Anticipates 40-patient trial combining emavusertib with BTKi, leveraging prior NHL data with no additive toxicities.

Cash Position and Funding

The company's cash and cash equivalents were $9.1 million as of September 30, 2025. Based on its current operating plan, Curis believes that its existing cash and cash equivalents should enable it to fund its existing operations into 2026. Diantha Duvall mentioned that the company will be looking to bring in additional capital prior to the end of the year.

Pipeline Progress

Jim Dentzer discussed the company's progress in its TakeAim Lymphoma study evaluating emavusertib in combination with ibrutinib in patients with primary CNS lymphoma. The study is expected to support accelerated submissions in both the U.S. and Europe. Curis is also exploring emavusertib's potential to fundamentally change the treatment paradigm for CLL patients.

Valuation Metrics

With a P/S Ratio of 1.34 and an EV/EBITDA of -0.25, the market seems to be pricing in limited revenue growth. Analysts estimate next year's revenue growth at 7.8%, which may not be sufficient to justify the current valuation. The company's ROE (%) is 354.21, indicating a potentially high return on equity, but this is likely due to the company's negative equity position.

CLL Program Update

The company is anticipating a study design that anticipates 40 patients and is hoping to demonstrate deeper responses by adding emavusertib to a patient's BTKi regimen. Dr. Hamdy added that they have approximately 25 patients, if not more, combined with ibrutinib, and they have not seen any additive toxicities.

Future Outlook

Curis will have several posters available at the SNO conference in PCNSL and SCNSL, including information on what they've seen over the last 6 months in the PCNSL study. The company's resource allocations will be focused on continuing the PCNSL trial, launching the CLL trial, and bringing in additional capital.

3. NewsRoom

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Curis to Present at Upcoming 30th Annual SNO Meeting

Nov -14

Source: prnewswire.com

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Curis, Inc. (CRIS) Q3 2025 Earnings Call Transcript

Nov -07

Source: seekingalpha.com

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Curis (CRIS) Reports Q3 Loss, Beats Revenue Estimates

Nov -06

Source: zacks.com

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Curis Provides Third Quarter 2025 Business Update

Nov -06

Source: prnewswire.com

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Curis to Report Third Quarter 2025 Financial and Operating Results and Host Conference Call and Webcast on November 6, 2025

Oct -30

Source: prnewswire.com

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Curis Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Oct -03

Source: prnewswire.com

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Curis, Inc. (CRIS) Presents At Cantor Global Healthcare Conference 2025 Transcript

Sep -12

Source: seekingalpha.com

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Curis, Inc. (CRIS) Presents At H.C. Wainwright 27th Annual Global Investment Conference Transcript

Sep -11

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.47%)

6. Segments

Discovery and Development of Innovative Drug

Expected Growth: 10.47%

Curis, Inc.'s 10.47% growth in Discovery and Development of Innovative Drug is driven by increasing R&D investments, strategic partnerships, and a strong pipeline of novel oncology and immuno-oncology candidates. Additionally, advancements in precision medicine and gene editing technologies, such as CRISPR, are fueling innovation and growth in the sector.

7. Detailed Products

CurisDX

A comprehensive digital pathology platform that enables remote consultations, collaboration, and diagnosis

CurisAI

An artificial intelligence-powered platform for image analysis and biomarker discovery

CurisConsult

A telepathology platform for remote consultations and second opinions

CurisEDU

A digital education platform for pathology and biomedical education

8. Curis, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Curis, Inc. has a moderate threat of substitutes due to the availability of alternative treatments for cancer and other diseases.

Bargaining Power Of Customers

Curis, Inc. has a low bargaining power of customers due to the lack of negotiating power of individual patients and the complexity of the healthcare system.

Bargaining Power Of Suppliers

Curis, Inc. has a moderate bargaining power of suppliers due to the dependence on a few key suppliers for raw materials and equipment.

Threat Of New Entrants

Curis, Inc. has a high threat of new entrants due to the attractiveness of the biotechnology industry and the potential for new companies to enter the market.

Intensity Of Rivalry

Curis, Inc. operates in a highly competitive industry with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 12.44%
Debt Cost 21.93%
Equity Weight 87.56%
Equity Cost 21.93%
WACC 21.93%
Leverage 14.20%

11. Quality Control: Curis, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Seer

A-Score: 4.5/10

Value: 8.0

Growth: 4.2

Quality: 4.6

Yield: 0.0

Momentum: 6.5

Volatility: 3.7

1-Year Total Return ->

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Stock-Card
2seventy bio

A-Score: 3.7/10

Value: 7.6

Growth: 4.4

Quality: 4.4

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Curis

A-Score: 3.6/10

Value: 9.2

Growth: 3.9

Quality: 6.0

Yield: 0.0

Momentum: 1.0

Volatility: 1.3

1-Year Total Return ->

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Phathom Pharmaceuticals

A-Score: 3.4/10

Value: 8.2

Growth: 4.4

Quality: 6.0

Yield: 0.0

Momentum: 1.5

Volatility: 0.0

1-Year Total Return ->

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Stock-Card
Vir Biotechnology

A-Score: 3.3/10

Value: 7.6

Growth: 3.6

Quality: 5.0

Yield: 0.0

Momentum: 2.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
REGENXBIO

A-Score: 3.1/10

Value: 7.0

Growth: 2.2

Quality: 3.9

Yield: 0.0

Momentum: 4.0

Volatility: 1.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.35$

Current Price

1.35$

Potential

-0.00%

Expected Cash-Flows