Curis (CRIS) Q4 2024 earnings summary

Executive summary

• Achieved significant progress in NHL and AML clinical programs, with encouraging regulatory feedback from EMA and FDA on accelerated approval pathways for emavusertib in PCNSL.

• Emavusertib granted orphan drug designation for primary CNS lymphoma in both the U.S. and Europe.

• Positive clinical data in both BTKI naive and experienced PCNSL patients, and promising results in FLT3-mutated AML.

• Initiated Phase 1 triplet study (ema-ven-aza) in frontline AML; first dosing cohort completed and well tolerated.

• Raised $10.8 million in October 2024 and $10 million in March 2025 through equity offerings to support operations.

Financial highlights

• Reported Q4 2024 net loss of $9.6 million ($1.25/share), down from $11.7 million ($2.03/share) in Q4 2023.

• Full-year 2024 net loss was $43.4 million ($6.88/share), compared to $47.4 million ($8.96/share) in 2023.

• Q4 2024 revenues were $3.3 million, up from $2.7 million in Q4 2023; full-year revenues were $10.9 million, up from $10.0 million in 2023, mainly from Erivedge royalties.

• R&D expenses for 2024 were $38.6 million, down from $39.5 million in 2023; G&A expenses were $16.8 million, down from $18.6 million.

• Cash and cash equivalents totaled $20.0 million as of December 31, 2024.

Outlook and guidance

• Enrollment in the registrational TakeAim Lymphoma study expected to complete in 12-18 months, supporting accelerated approval filings.

• Cash runway, including March 2025 offering proceeds, expected to fund operations into Q4 2025.

• Continued focus on advancing triplet and monotherapy studies in AML, with further data updates anticipated as studies progress.