Curis (CRIS) Q4 2024 earnings summary

Executive summary

• Achieved significant progress in NHL and AML clinical programs, with encouraging regulatory feedback on accelerated approval pathways for emavusertib in PCNSL from both EMA and FDA; Orphan Drug Designation granted in US and EU.

• Positive clinical data in both BTKI naive and experienced PCNSL patients, and strong results in FLT3-mutated AML patients, especially those previously treated with FLT3 inhibitors.

• Initiated Phase 1 triplet study (emavusertib + venetoclax + azacitidine) in frontline AML; first dosing cohort completed and well tolerated.

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

Financial highlights

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

• Full-year 2024 net loss was $43.4 million ($6.88/share), down from $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, slightly 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.

• Quarterly cash burn remains at ~$10 million.

• Ongoing discussions with potential partners in NHL and AML spaces.