Roth Capital 'Favorable' on Curis' (CRIS) CUDC-907 Following Phase 1 Initiation in a/r Solid Tumors

Roth Capital affirms Curis, Inc. (Nasdaq: CRIS) at Buy with a price target of $10 after the company announced that the first patient has initiated treatment with CUDC-907 in a Phase 1 clinical trial in patients with advanced or relapsed solid tumors, including hormone receptor positive (HR+)/ HER2-negative breast cancer or midline carcinoma with certain NUT gene rearrangements.

Analyst Joseph Pantginis commented, We view this newly initiated study favorably, expanding '907's potential profile from hematological malignancies into solid tumors. As a dual inhibitor of HDAC and PI3K, '907 has the potential to hit tumor cells at multiple key cellular pathways, thereby disabling redundant survival and immune evasive mechanisms the cancer cells have adapted. The Leukemia and Lymphoma Society is funding part of the CUDC-907 development program, offsetting some of CRIS' expenses.

Recall that '907 is currently enrolling patients in a Phase I study in r/r lymphoma and multiple myeloma. There were 41 r/ r patients enrolled as of the last update in November. Data to date in eight evaluable DLBCL patients showed that seven exhibited tumor shrinkage, with one achieving CR and two achieving PR. Full data from this study is expected during 2015. CRIS initiated an expansion cohort for DLBCL and MM at the recommended Phase II dose. The '427 Phase I study in solid tumors and lymphoma completed enrollment in its escalating dose cohorts. Following Debiopharm's decision in November to not continue the license agreement for Debio 0932, CRIS intends to initiate a study in systemic mastocytosis and GBM. We believe that the '907 data to date indicate a potential for this dual inhibitor to act as single agent and in combination setting and we look forward to solid tumor data in 2015.

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Curis closed at $1.12 yesterday.

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