Curis (CRIS) Q1 2026 earnings summary

Executive summary

• Advanced registrational TakeAim Lymphoma study in PCNSL, targeting accelerated submissions in the US and Europe after FDA and EMA discussions; orphan drug designation granted for emavusertib in PCNSL.

• Initiated proof-of-concept TakeAim CLL study, aiming to improve outcomes for CLL patients by combining emavusertib with BTK inhibitors for deeper responses and potential treatment-free remission.

• Presented encouraging early clinical data in gastric and esophageal cancer at ASCO GI Cancers Symposium, showing manageable toxicity and promising efficacy.

Financial highlights

• Reported net loss of $24.2 million ($1.25/share) for Q1 2026, compared to $10.6 million ($1.25/share) in Q1 2025, mainly due to warrant liability changes from January 2026 PIPE financing.

• No revenues in Q1 2026 due to prior sale of Erivedge royalties; Q1 2025 revenues were $2.4 million.

• R&D expenses decreased to $6.4 million from $8.5 million year-over-year, attributed to lower employee and manufacturing costs.

• G&A expenses increased to $5.1 million from $4.0 million, primarily due to PIPE financing costs.

• Other expense increased to $12.7 million from $0.5 million, mainly due to warrant liability changes.

Outlook and guidance

• Cash and equivalents of $15 million as of March 31, 2026, with up to $20.2 million additional proceeds expected from PIPE warrant exercises, projected to fund operations into the second half of 2027.

• Updated emavusertib clinical data from the TakeAim Lymphoma study expected in the first half of 2027.

• Initial dosing of five patients in the TakeAim CLL study with zanubrutinib anticipated by mid-2026, with initial data expected in December 2026.