Curis Provides Fourth Quarter 2025 Business Update

Rhea-AI Summary

Curis (NASDAQ: CRIS) reported Q4 2025 results and a business update on March 19, 2026. Key highlights include Q4 net income of $19.4M and FY 2025 net loss of $7.6M, a $27.2M non-cash gain from extinguishing a royalty liability, and a PIPE financing structure providing up to $80.8M in potential proceeds.

Clinical updates: encouraging emavusertib combo signals in PCNSL (100% ORR in 5 BTKi-naïve patients; 37% ORR in BTKi-experienced) and AML MRD conversions (5 of 8). Emavusertib holds orphan designation in PCNSL from FDA and EMA. Cash was $5.1M with guidance to fund operations into H2 2027 assuming expected warrant proceeds.

Positive

• Q4 net income of $19.4M
• Yearly net loss reduced to $7.6M from $43.4M (2024)
• Non-cash gain of $27.2M from royalty liability release
• Clinical signals: 100% ORR in 5 BTKi-naïve PCNSL patients
• AML MRD conversion in 5 of 8 patients (62.5%)
• PIPE financing structure with up to $80.8M potential proceeds

Negative

• Cash balance of $5.1M at Dec 31, 2025
• Revenue decline: $9.4M (2025) vs $10.9M (2024)
• Reliance on contingent proceeds (Series B warrants tied to dosing of 5th CLL patient)
• Loss of future Erivedge royalties following asset sale

Key Figures

2025 net loss: $7.6M ($0.58/share) Q4 2025 net income: $19.4M ($1.23/share) 2025 revenue: $9.4M +5 more

8 metrics

2025 net loss $7.6M ($0.58/share) Year ended December 31, 2025 vs $43.4M loss in 2024

Q4 2025 net income $19.4M ($1.23/share) Fourth quarter 2025 vs $9.6M net loss in Q4 2024

2025 revenue $9.4M Year ended December 31, 2025 vs $10.9M in 2024, from Erivedge royalties

Non-cash gain $27.2M Q4 2025 gain on release of liability tied to Erivedge royalty sale

Cash balance $5.1M Cash and cash equivalents as of December 31, 2025

PIPE financing size Up to $80.8M January 2026 private placement gross proceeds, including $20.2M initial

PCNSL BTKi-naïve ORR 100% (5/5 patients) Objective responses with emavusertib + ibrutinib in BTKi-naïve PCNSL

AML MRD conversion 62.5% (5/8 patients) MRD+ to undetectable in AML triplet study MRD-evaluable patients

Market Reality Check

Price: $0.7712 Vol: Volume 138,508 is 1.22x t...

normal vol

$0.7712 Last Close

Volume Volume 138,508 is 1.22x the 20-day average of 113,504, indicating moderate interest into the update. normal

Technical Shares at 0.8151 trade below the 200-day MA of 1.48 and sit 5.72% above the 52-week low of 0.771, far below the 3.13 52-week high.

Peers on Argus

Biotech peers are mostly down, with names like AKTX off 18.21% and QTTB down 6.2...

Biotech peers are mostly down, with names like AKTX off 18.21% and QTTB down 6.29%, but scanner data shows no coordinated sector momentum. CRIS’s -8.58% move appears more company-specific, layered on top of a weak group tape.

Historical Context

5 past events · Latest: Mar 12 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 12	Earnings call notice	Neutral	-5.9%	Announced date and logistics for Q4 2025 results and webcast.
Jan 09	PIPE closing	Negative	-2.7%	Closed private placement raising up to $80.8M in gross proceeds.
Jan 07	PIPE pricing	Negative	-16.0%	Priced PIPE with Series B preferred and large warrant package at $0.75.
Dec 09	AML triplet data	Positive	-1.5%	Reported updated frontline AML triplet data with 62.5% uMRD rate.
Nov 14	SNO data preview	Positive	+17.7%	Flagged upcoming SNO presentations on CNS lymphoma and myddosome signaling.

Pattern Detected

Financings have typically drawn negative reactions, while positive clinical/meeting updates have sometimes sold off, indicating a cautious investor base around capital needs and data.

Recent Company History

Over the past six months, Curis has balanced clinical progress in emavusertib with significant financing activity. A November 2025 SNO data preview for CNS lymphoma and AML triplet updates were followed by mixed price reactions, including a +17.7% move on SNO presentation news but a modest selloff after AML data. January 2026 PIPE pricing and closing announcements totaling up to $80.8M both triggered declines. The latest business update continues this theme of data advancement alongside balance sheet reshaping and royalty monetization.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2026-02-13

An effective-form S-3 shelf filed on 2026-02-13 registers 107,706,700 common shares for resale by January 2026 PIPE investors, originating from Series B preferred and Series A, B and C warrants. Curis will not receive proceeds from investor resales but would receive cash if warrants are exercised, implying substantial potential future share issuance.

Market Pulse Summary

This announcement combines detailed emavusertib data in CNS lymphoma and AML with a significant fina...

Analysis

This announcement combines detailed emavusertib data in CNS lymphoma and AML with a significant financial reset. Q4 2025 delivered $19.4M net income driven by a $27.2M gain from selling Erivedge-related royalties, reducing the full-year loss to $7.6M. However, royalty revenue declines and a year-end cash balance of $5.1M underscore reliance on the up-to-$80.8M PIPE and a resale S-3 registering 107,706,700 shares. Investors may watch future trial updates, warrant exercises, and spending trends closely.

Key Terms

orphan drug designation, accelerated approval, phase 2, minimal residual disease (mrd), +4 more

8 terms

orphan drug designation regulatory

"Emavusertib has been granted orphan drug designation by both FDA and EMA in PCNSL."

Orphan drug designation is a special status given to medicines developed to treat rare diseases affecting only a small number of people. This status often provides benefits like faster approval processes and financial incentives, making it more attractive for companies to develop these drugs. For investors, it signals potential for exclusive market rights and reduced competition, which can impact the drug’s profitability.

accelerated approval regulatory

"intended to support filings for accelerated approval in PCNSL in the US and Europe."

Accelerated approval is a process that allows new medical treatments to be approved more quickly than usual if they address serious or life-threatening conditions and show promising early results. For investors, it signals that a treatment may reach the market sooner, potentially boosting a company's prospects, but it also involves some uncertainty since full evidence of effectiveness is still being gathered.

phase 2 medical

"initiated an open label Phase 2 clinical study of emavusertib in combination with zanubrutinib"

Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.

minimal residual disease (mrd) medical

"undetectable minimal residual disease (MRD) and the potential for time-limited treatment"

The presence of minimal residual disease (MRD) means a very small number of cancer cells remain in the body after treatment, too few to cause symptoms or show up on routine scans but detectable with sensitive tests. For investors it matters because MRD status is a strong early indicator of whether a patient is likely to relapse and is increasingly used as a trial endpoint and regulatory signal, affecting a therapy’s market prospects and valuation much like finding glowing embers after a fire signals risk of re-ignition.

complete response (cr) medical

"resulted in 1 complete response (CR) and 1 stable disease (SD)"

A complete response (CR) is when a company or individual fully satisfies a specific requirement or condition, indicating that the issue or task has been resolved completely. For investors, it signals that a problem has been fully addressed, which can influence decisions about trust, future actions, or the company's overall status. Think of it as a full "checkmark" showing everything has been successfully handled.

stable disease (sd) medical

"resulted in 1 complete response (CR) and 1 stable disease (SD)"

Stable disease (SD) describes a situation in cancer care and clinical trials where a tumor neither meaningfully shrinks nor grows after treatment — it stays roughly the same size. For investors, SD is a key clinical outcome because it can signal a drug is controlling disease progression, potentially extending patient life or delaying costly interventions, which influences regulatory decisions, market potential and the perceived value of a therapy.

private placement financial

"the Company announced the closing of a private placement (the "January 2026 PIPE Financing")"

A private placement is a way for companies to raise money by selling securities directly to a small group of investors instead of through a public offering. This process is often quicker and less regulated, making it similar to offering a special, exclusive investment opportunity to select individuals or institutions. For investors, it can provide access to unique investment options that are not available on public markets.

warrants financial

"three series of warrants (A, B, and C) which can be exercised for up to $20.2 million each"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

AI-generated analysis. Not financial advice.

Management to host conference call today at 4:30 p.m. ET

LEXINGTON, Mass., March 19, 2026 /PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of emavusertib (CA-4948), an orally available, small molecule IRAK4 and FLT3 inhibitor, today reported its business update and financial results for the quarter ended December 31, 2025.

Operational Highlights

TakeAim Lymphoma

• Lakshmi Nayak, MD, Director of the Center for CNS Lymphoma at Dana-Farber Cancer Institute in Boston, presented a poster with updated clinical data in Primary CNS Lymphoma (PCNSL) at the 30^th Annual Meeting of the Society for Neuro-Oncology (SNO) in November 2025. The poster, titled Preliminary Safety and Efficacy of Emavusertib (CA-4948) in Combination with Ibrutinib in Relapsed/Refractory Primary Central Nervous System Lymphoma Patients, showed results for 24 patients who have received treatment with emavusertib and ibrutinib, a BTK inhibitor (BTKi), for at least 1 cycle (28 days):
  • 5 of 5 BTKi-naïve patients achieved objective response (100% ORR)
  • 7 of 19 BTKi-experienced patients achieved objective response (37% ORR)
  • Median treatment duration for the 12 responders was 123 days (44 – 798 days)
  • 9 additional patients were unable to complete 1 cycle of treatment; reasons for discontinuing treatment included adverse events unrelated to treatment, disease progression, and transition to hospice care.
• Cecilia Merrigan, DNP, Mayo Clinic in Rochester, presented a poster with initial clinical data in Secondary CNS Lymphoma (SCNSL) at the 30^th Annual Meeting of the Society for Neuro-Oncology (SNO) in November 2025. The poster, titled Promising Efficacy Signal in Secondary CNS Lymphoma Patients Treated with Emavusertib and Ibrutinib, showed results for 2 patients who had previously progressed on a BTKi. Adding emavusertib to their ibrutinib treatment resulted in 1 complete response (CR) and 1 stable disease (SD) with a 38% reduction in disease burden.  
• Curis continues to enroll PCNSL patients in the Company's TakeAim Lymphoma study of emavusertib in combination with ibrutinib which, as a result of discussions with FDA and EMA, is intended to support filings for accelerated approval in PCNSL in the US and Europe. Emavusertib has been granted orphan drug designation by both FDA and EMA in PCNSL.

TakeAim CLL

• Curis initiated an open label Phase 2 clinical study of emavusertib in combination with zanubrutinib, a BTKi, in patients with Chronic Lymphocytic Leukemia (CLL). The goal of combining emavusertib with a BTKi is to enable a dual blockade of NF-kB, a key driver of disease in CLL and NHL, by inhibiting both the TLR and BCR pathways. The current standard of care is BTKi, which blocks the BCR pathway and can deliver high response rates, though typically only partial responses. Previous clinical studies have shown that adding emavusertib, which blocks the TLR pathway, to a BTKi regimen can enable patients with NHL to achieve deeper responses, including complete remission or undetectable minimal residual disease (MRD) and the potential for time-limited treatment, outcomes which represent the potential for a paradigm shift in the management of CLL.

AML

• Christina Papayannidis, MD, IRCCS Azienda Ospedaliero Universitaria di Bologna, presented a poster with initial clinical data in frontline AML at the 67th ASH Annual Meeting in December. The AML triplet study (CA-4948-104) is evaluating the addition of emavusertib to the combination of azacitidine and venetoclax (aza-ven) in AML patients who have achieved complete remission on aza-ven but remain MRD-positive (MRD+). The first two cohorts in the study evaluate patients who received emavusertib for either 7 or 14 days in a 28-day cycle, in addition to their aza-ven treatment. The poster, titled Preliminary Pharmacokinetic and MRD Results from AML Patients Treated with 7- and 14-Day Dosing Schedule of Emavusertib added to Combination Therapy with Azacitidine and Venetoclax, showed results for 4 patients in the 7-day cohort and 6 patients in the 14-day cohort:
  • 8 patients had central MRD samples
  • 5 of 8 patients (62.5%) achieved MRD conversion (MRD+ to undetectable).

Corporate

On January 9, 2026, the Company announced the closing of a private placement (the "January 2026 PIPE Financing") with gross proceeds of up to $80.8 million, including initial gross proceeds of approximately $20.2 million with three series of warrants (A, B, and C) which can be exercised for up to $20.2 million each according to the terms and conditions of the financing agreement. All three series of warrants are currently exercisable at $0.75 per share and have the following termination conditions:

• Series A warrants terminate on January 8, 2031
• Series B warrants terminate 30 days after the Company announces dosing of the fifth patient in the Phase 2 clinical trial in CLL, subject to conditions defined in the financing agreement
• Series C warrants terminate on January 8, 2027.

Fourth Quarter 2025 Financial Results

For the year ended December 31, 2025, Curis reported a net loss of $7.6 million, or $0.58 per share on both a basic and diluted basis, as compared to a net loss of $43.4 million, or $6.88 per share on both a basic and diluted basis in 2024. For the fourth quarter of 2025, Curis reported net income of $19.4 million or $1.23 per share on both a basic and diluted basis as compared to a net loss of $9.6 million or $1.25 on both a basic and diluted basis for the same period in 2024.

Revenues, net were $9.4 million and $10.9 million for the years ended December 31, 2025 and 2024, respectively. Revenues are comprised of royalty revenues related to Genentech and Roche's net sales of Erivedge^®. Revenues were $1.1 million and $3.3 million for the fourth quarters of 2025 and 2024, respectively. As previously announced, on November 6, 2025, the Company sold to TPC Investments Royalty LLC, a limited liability company managed by Oberland, its interest in Curis Royalty LLC. The sale included the Erivedge intellectual property, other assets associated with Erivedge and the License Agreement with Genentech ("Erivedge"), in exchange for upfront consideration of $2.5 million and a release of the Company's liability related to sale of future royalties to Oberland. In connection with such transaction, the Company transferred to Curis Royalty all rights to Curis Technology, Inventions and Joint Patents (each as defined in the License Agreement) and assigned the Company's rights, duties and obligations under the License Agreement to Curis Royalty. Following the sale, the Company is no longer entitled to revenues under the License Agreement.

Research and development expenses were $28.3 million and $38.6 million for the years ended December 31, 2025 and 2024, respectively. The decrease was primarily attributable to lower employee-related, clinical, manufacturing and consulting costs. Research and development expenses were $5.8 million and $9.0 million for the fourth quarters of 2025 and 2024, respectively.

General and administrative expenses were $14.0 million and $16.8 million for the years ended December 31, 2025 and 2024, respectively. The decrease was primarily attributable to lower employee-related and legal costs. General and administrative expenses were $2.9 million and $3.4 million for the fourth quarters of 2025 and 2024, respectively.

Gain on release of liability related to sale of future royalties associated with sale of assets was the result of the sale of Erivedge. In the fourth quarter 2025, the Company recognized a non-cash $27.2 million gain and the liability related to sale of future royalties was extinguished.

Other expense, net was $1.9 million for the year ended December 31, 2025 and other income, net was $1.2 million for the year ended December 31, 2024. The increase was partially attributable to an increase in expense related to the sale of future royalties and a decrease in interest income. Other expense, net was $0.3 million and $0.6 million for the fourth quarters of 2025 and 2024, respectively.

As of December 31, 2025, Curis's cash and cash equivalents totaled $5.1 million, and the Company had approximately 12.9 million shares of common stock outstanding.

Cash Runway Guidance

Curis believes its cash and cash equivalents as of December 31, 2025, together with initial gross proceeds of $20.2 million received in January 2026 and expected gross proceeds of up to an additional $20.2 million from the exercise of the January 2026 PIPE Financing Series B Warrants upon the public announcement of dosing the 5^th CLL patient in our TakeAim CLL study expected later this year, should enable the Company's planned operations into the second half of 2027.

Conference Call Information 

Curis management will host a conference call today, March 19, 2026, at 4:30 p.m. ET, to discuss the business update and these financial results.

To access the live conference call, please dial (800)-836-8184 from the United States or (646)-357-8785 from other locations, shortly before 4:30 p.m. ET. The conference call can also be accessed here on the Curis website in the Investors section.

About Curis, Inc.

Curis is a biotechnology company focused on the development of emavusertib, an orally available, small molecule IRAK4 and FLT3 inhibitor. Emavusertib is currently being evaluated in the TakeAim Lymphoma Phase 1/2 study (CA-4948-101) of emavusertib in combination with the BTK inhibitor, ibrutinib, in patients with relapsed/refractory primary central nervous system lymphoma (PCNSL) and in the TakeAim CLL Phase 2 study (CA-4948-203) of emavusertib in combination with the BTK inhibitor, zanubrutinib, in chronic lymphocytic leukemia (CLL). The Company's monotherapy and combination studies in acute myeloid leukemia (AML) are substantially complete, with additional funding the Company plans to continue development of emavusertib in AML. Emavusertib has received Orphan Drug Designation from the U.S. Food and Drug Administration for the treatment of PCNSL, AML and MDS and from the European Commission for the treatment of PCNSL. Curis, through its 2015 collaboration with Aurigene Discovery Technologies Limited, has the exclusive license to emavusertib (CA-4948). For more information, visit Curis's website at www.curis.com.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including, without limitation, statements concerning Curis's cash runway or expectations with respect to the timing or exercise of the January 2026 PIPE Financing Series B Warrants; Curis's expectations with respect to the dosing of the fifth patient in the TakeAim CLL study, and the therapeutic potential of emavusertib in combination with zanubrutinib to improve treatment outcomes, achieve complete remissions and/or undetectable MRD, and/or reduce time on treatment for patients with CLL; Curis's expectations with respect to enrollment of BTKi naïve and BTKi experienced populations in the TakeAim Lymphoma study; statements regarding updated PCNSL data and the timing of such data from the TakeAim Lymphoma study, or the use of such data to support regulatory filings for approval of emavusertib in PCNSL, and the therapeutic potential and tolerability of emavusertib in patients with PCNSL.  Forward-looking statements may contain the words "believes," "expects," "anticipates," "plans," "intends," "seeks," "estimates," "assumes," "predicts," "projects," "targets," "will," "may," "would," "could," "should," "likelihood", "continue," "potential," "opportunity," "focus," "strategy," "mission," or similar expressions. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different from those indicated by such forward-looking statements. Curis may experience adverse results, delays and/or failures in its drug development programs and may not be able to successfully advance the development of its drug candidates in the time frames it projects, if at all. Curis's drug candidates may cause unexpected toxicities, fail to demonstrate sufficient safety and efficacy in clinical studies and/or may never achieve the requisite regulatory approvals needed for commercialization. Favorable results seen in preclinical studies and early clinical trials of Curis's drug candidates may not be replicated in later trials. Curis is dependent on the success of emavusertib and any delays in the development of emavusertib could have a material adverse effect on its business. There can be no guarantee that the collaboration agreement with Aurigene or the CRADA with NCI will continue for their full terms, that Curis or its collaborators will each maintain the financial and other resources necessary to continue financing its portion of the research, development and commercialization costs, or that the parties will successfully discover, develop or commercialize drug candidates under the collaboration. Curis will require substantial additional capital to fund its business. Based on its available cash resources, it does not have sufficient cash on hand to support current operations within the next 12 months from the date of this press release. Curis will require substantial additional funding to fund the development of emavusertib through regulatory approval and commercialization, and to support its continued operations. If it is not able to obtain sufficient funding, it will be forced to delay, reduce in scope or eliminate the development of emavusertib, including related clinical trials and operating expenses, potentially delaying the time to market for, or preventing the marketing of, emavusertib, which could adversely affect its business prospects and its ability to continue operations, and would have a negative impact on its financial condition and its ability to pursue its business strategies. Curis faces substantial competition. Curis and its collaborators face the risk of potential adverse decisions made by the FDA, EMA and other regulatory authorities, investigational review boards, and publication review bodies. Curis may not obtain or maintain necessary patent protection and could become involved in expensive and time-consuming patent litigation and interference proceedings. Unstable market and economic conditions, natural disasters, public health crises, political crises and other events outside of Curis's control, including its ability to regain and maintain its listing on the Nasdaq Capital Market, could significantly disrupt its operations or the operations of third parties on which Curis depends and could adversely impact Curis's operating results and its ability to raise capital. Other important factors that may cause or contribute to actual results being materially different from those indicated by forward-looking statements include the factors set forth under the captions "Risk Factor Summary" and "Risk Factors" in our most recent Form 10-K, and the factors that are discussed in other filings that we periodically make with the Securities and Exchange Commission. In addition, any forward-looking statements represent the views of Curis only as of today and should not be relied upon as representing Curis's views as of any subsequent date. Curis disclaims any intention or obligation to update any of the forward-looking statements after the date of this press release whether as a result of new information, future events or otherwise, except as may be required by law.

CURIS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS   (UNAUDITED) (In thousands, except share and per share data)
	Three Months Ended December 31,				Twelve Months Ended December 31,
	2025		2024		2025		2024
Revenues, net	$       1,138		$       3,345		$     9,443		$     10,908
Operating expenses:
Cost of royalties	-		17		45		98
Research and development	5,825		8,968		28,254		38,562
General and administrative	2,883		3,354		14,046		16,790
Total operating expenses	8,708		12,339		42,345		55,450
Gain on release of liability related to sale of future royalties associated with sale of assets	27,189		-		27,189		-
Income (loss) from operations	19,619		(8,994)		(5,713)		(44,542)
Total other income (expense)	(263)		(624)		(1,869)		1,153
Net income (loss)	$     19,356		$     (9,618)		$    (7,582)		$   (43,389)
Net loss per common share (basic and diluted)	$         1.23		$       (1.25)		$      (0.58)		$       (6.88)
Weighted average common shares (basic and diluted)	15,747,068		7,671,226		13,164,032		6,306,284

 

CURIS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS   (UNAUDITED) (In thousands)
		December 31, 2025				December 31, 2024
ASSETS
Cash and cash equivalents		$	5,061			$                   19,997
Restricted cash		544				544
Accounts receivable		-				3,349
Prepaid expenses and other assets		3,427				4,999
Property and equipment, net		62				231
Operating lease right-of-use asset		1,890				3,163
Goodwill		8,982				8,982
Total assets		$	19,966			$                   41,265
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable and accrued liabilities		$	12,886			$                   10,135
Operating lease liability		1,618				2,954
Liability related to the sale of future royalties, net		-				34,174
Total liabilities		14,504				47,263
Total stockholders' equity (deficit)		5,462				(5,998)
Total liabilities and stockholders' equity (deficit)		$	19,966			$                   41,265

 

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SOURCE Curis, Inc.

FAQ

What were Curis (CRIS) Q4 2025 earnings and per-share results announced March 19, 2026?

Curis reported Q4 2025 net income of $19.4 million, or $1.23 per share. According to the company, this compares to a Q4 2024 net loss of $9.6 million, reflecting a one-time non-cash gain and changes in royalty recognition during the period.

How much cash does Curis (CRIS) have and how long is the runway as of December 31, 2025?

Curis held $5.1 million cash at December 31, 2025. According to the company, combined with $20.2 million received in January 2026 and expected warrant proceeds, this should fund operations into the second half of 2027, assuming contingent warrant exercises.

What clinical results did Curis (CRIS) report for emavusertib in PCNSL at SNO 2025?

Curis reported 100% ORR in 5 BTKi-naïve PCNSL patients and 37% ORR in BTKi-experienced patients. According to the company, the TakeAim Lymphoma study continues enrollment and is intended to support potential accelerated approval filings in the US and Europe.

What was the financial effect of the Erivedge asset sale disclosed by Curis (CRIS)?

The sale triggered a $27.2 million non-cash gain in Q4 2025 and extinguished the related royalty liability. According to the company, Curis no longer receives revenues under the original Genentech license following the transaction.

What is the structure and potential size of Curis's (CRIS) January 2026 PIPE financing?

The January 2026 PIPE provides up to $80.8 million including initial $20.2 million and three warrant series exercisable for up to $20.2 million each. According to the company, Series B warrants are contingent on dosing the fifth CLL patient per financing terms.

What early AML and CLL signals did Curis (CRIS) disclose for emavusertib combinations in 2025?

Curis reported MRD conversion in 5 of 8 AML patients in a triplet study and initiated a Phase 2 CLL study with zanubrutinib. According to the company, these data support further development of emavusertib combination regimens.