Curis, Inc. (NASDAQ:CRIS), a drug development company seeking to develop proprietary targeted medicines for cancer treatment, today reported its financial results for the third quarter ended September 30, 2009.
“The third quarter of 2009 was significant for Curis, as we entered into a license agreement with Debiopharm for our novel Hsp90 technologies and announced the publication of highly encouraging Phase I clinical data on GDC-0449, a Hedgehog pathway inhibitor under collaboration with Genentech, in the New England Journal of Medicine,” said Dan Passeri, Curis President and Chief Executive Officer. “With such accomplished collaborators as Genentech and Debiopharm progressing assets under our respective collaborations, we are now squarely focused on the continued development of CUDC-101, our first-in-class HDAC/EGFR/Her2 inhibitor, which is representative of our proprietary preclinical multi-targeted cancer programs.”
For the third quarter of 2009, Curis reported a net loss of $4.1 million or ($0.06) per share, as compared to a net loss of $4.6 million or ($0.07) per share for the same period in 2008.
Revenues for the third quarter of 2009 were $800,000 as compared to $100,000 for the same period in 2008. The increase in revenues from the prior year period was due to license fee revenues recognized under the Company’s August 2009 license agreement with Debiopharm.
Operating expenses were $4.9 million in each of the third quarters of 2009 and 2008, respectively.