Curis, Inc. (CRIS) Reports In-Line Q1 Loss

Curis, Inc. (NASDAQ: CRIS) reported Q1 EPS of ($0.06), in-line with the analyst estimate of ($0.06). Revenue for the quarter came in at $1.3 million versus the consensus estimate of $1.88 million.

2014 Financial Expectations

Curis expects to end 2014 with cash, cash equivalents and investments of $41 to $46 million, excluding potential future payments from existing or new collaborators. This also excludes any royalty revenues in 2014 related to net sales of Erivedge®. Curis Royalty is required to pay BioPharma II up to $2 million per quarter of the royalty revenues that it receives from Genentech in 2014 per the terms of the Erivedge royalty-secured debt transaction, but would retain royalty revenues that exceed this amount, if any, for use in funding Curis' operations.

Curis expects that 2014 research and development expenses will be $16 to $19 million and that general and administrative expenses will be $11 to $13 million. These expense expectations include approximately $800,000 and $2.4 million of estimated 2014 stock-based compensation expense in research and development and general and administrative expense, respectively.

For earnings history and earnings-related data on Curis, Inc. (CRIS) click here.

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