Curis' (CRIS) Q1 Results Flat; Erivedge Growth, Pipeline Remain in Focus - Roth

Roth Capital comments on Curis, Inc. (Nasdaq: CRIS) following the company's Q1 report, which was out ahead of the bell Thursday. Briefly, Curis posted an in-line loss of 8 cents per share.

Analyst Joseph Pantginis commented, After the FDA removed the partial clinical hold on the Phase I CUDC-427 monotherapy study in March, CRIS is preparing to re-open the study under the amended protocol. CRIS plans to initiate a combination Phase Ib/II study of '427 + Xeloda in HER-2 negative breast cancer, a Phase I dose escalation study (continuous 2x daily dosing) in ovarian/fallopian cancers, and a study in lymphoma patients with known IAP dysfunction. Patients are enrolling in the Phase I intermittent 3x per week dosing trial of dual HDAC/PI3K inhibitor CUDC-907 in r/r lymphoma and multiple myeloma. CRIS expects to complete dose escalation mid-2014 and to initiate the expansion phase in hematological malignancies, including DLBCL in 2H14. Recall that at AACR, CRIS presented biomarker data from the Phase I study of '907 suggesting correlative trends between patient benefit and pre-treatment plasma TARC levels and between tumor response and plasma TARC levels after '907 treatment. Partner Debiopharm will present Debio 0932 data at ASCO. The Phase I portion of the Phase I/II study of Debio 0932 in NSCLC is nearly complete and the Phase II is expected to be initiated this year. CRIS is entitled to a milestone payment when the 5th Phase II patient is dosed. Patients are also being dosed in the Phase I study of 0932 + everolimus in advanced kidney cancer. If the trial progresses to Phase II, CRIS is entitled to a milestone payment.

Pantginis reaffirms his Buy rating and $10 price target on the stock.

For an analyst ratings summary and ratings history on Curis click here. For more ratings news on Curis click here.

Shares of Curis closed at $2.01 yesterday.

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