Curis Provides Third Quarter 2026 Business Update

Rhea-AI Summary

Curis (NASDAQ: CRIS) reported a third-quarter 2026 net loss of $8.1 million while advancing its two ongoing emavusertib combination studies. The loss compared with $7.7 million a year earlier; basic and diluted loss per share narrowed to $1.94 from $9.86. Revenue was zero following the fourth-quarter 2025 sale of Erivedge royalties, versus $3.2 million a year earlier.

The phase 2 TakeAim CLL study enrolled 12 patients, with initial data expected in December 2026. July lymphoma data showed objective response rates of 86% among all seven patients without prior BTK inhibitor treatment and 26% among all 39 previously treated patients. September 30 cash totaled $5.0 million. Curis expects that cash plus approximately $7.5 million in October private-placement net proceeds to fund existing operations into the first quarter of 2027.

10 points · 1 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 13 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointAugust public offering and October private placement completed; October net proceeds totaled approximately $7.5 million. 1.9× market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.TakeAim CLL enrolled 12 patients; Curis expects initial phase 2 data in December 2026.
• Minor pointLymphoma response rate reached 86% (6 of 7) across all BTK inhibitor-naïve patients as of July 1, 2026.
• Minor pointLymphoma response rate reached 26% (10 of 39) across all BTK inhibitor-experienced patients as of July 1, 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.2025 regulatory guidance indicated the ongoing lymphoma study could support accelerated-approval applications in relapsed/refractory primary central nervous system lymphoma.

5 minor points

• Minor pointQuarterly research and development expense fell to $5.6 million from $6.4 million a year earlier.
• Minor pointNine-month research and development expense fell to $18.8 million from $22.4 million a year earlier.
• Minor pointQuarterly general and administrative expense fell to $3.2 million from $3.7 million a year earlier.
• Minor pointQuarterly other income was $0.6 million, versus $0.8 million of other expense a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Curis plans further emavusertib development in acute myeloid leukemia, with additional funding.

Negative

• Major pointNine-month net loss widened to $40.9 million from $26.9 million; loss per share narrowed to $16.77 from $43.82.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Cash runway extends only into the first quarter of 2027, including October financing proceeds, Curis estimates.
• Moderate pointQuarterly revenue fell to zero from $3.2 million following the fourth-quarter 2025 Erivedge royalty sale.
• Moderate pointTotal liabilities rose to $16.248 million at September 30, 2026, from $14.504 million at year-end 2025.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Further acute myeloid leukemia development depends on additional funding.

8 minor points

• Minor pointQuarterly net loss widened to $8.1 million from $7.7 million; loss per share narrowed to $1.94 from $9.86.
• Minor pointNine-month revenue fell to zero from $8.305 million a year earlier.
• Minor pointQuarterly operating loss widened to $8.748 million from $6.924 million a year earlier.
• Minor pointNine-month operating loss widened to $30.207 million from $25.332 million a year earlier.
• Minor pointNine-month other expense increased to $10.7 million from $1.6 million a year earlier.
• Minor pointNine-month general and administrative expense rose to $11.449 million from $11.163 million a year earlier.
• Minor pointCash and cash equivalents fell to $5.014 million at September 30, 2026, from $5.061 million at year-end 2025.
• Minor pointStockholders' equity declined to $2.551 million at September 30, 2026, from $5.462 million at year-end 2025.

Key Figures

Q3 net loss: $8.1 million Nine-month net loss: $40.9 million Revenue: $0 +5 more

Q3 net loss

$8.1 million

Third quarter 2026; compared with $7.7 million in Q3 2025

Nine-month net loss

$40.9 million

Nine months ended September 30, 2026; compared with $26.9 million in 2025

Revenue

$0

Quarter and nine months ended September 30, 2026

Cash and cash equivalents

$5.0 million

As of September 30, 2026

October private placement net proceeds

Approximately $7.5 million

Company said existing cash and proceeds should fund operations into Q1 2027

Patients enrolled

12 patients

TakeAim CLL study; initial data expected in December 2026

ORR, BTK-naïve evaluable patients

100% (5 of 5)

TakeAim Lymphoma; data as of July 1, 2026

ORR, BTKi-experienced evaluable patients

33% (10 of 30)

TakeAim Lymphoma; data as of July 1, 2026

Historical Context

2 past events · Latest: Jul 22

2 events

1. Jul 22

   Clinical update

   24h Move

   +4.0%

   Reported PCNSL response rates by BTK-inhibitor exposure, also included in this update.

2. Oct 16

   Private placement

   24h Move

   -19.9%

   Priced a share-and-warrant placement intended to fund operations through initial CLL data.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

open label, measurable residual disease, accelerated approval, private placement

4 terms

open label medical

"an open label phase 2 study"

Open label is a clinical trial design in which both the participants and the researchers know which treatment or intervention is being given. For investors, this matters because knowledge of the treatment can influence reported effects and side effects—like how seeing a product label can change a shopper’s opinion—so open-label results are useful for safety and real-world experience but are generally viewed as less rigorous evidence of effectiveness than blinded studies.

measurable residual disease medical

"have measurable residual disease (MRD+)"

Measurable residual disease (MRD) is the tiny number of cancer cells that remain in a patient after treatment and can be detected using sensitive laboratory tests even when scans look clear. For investors, MRD matters because it's a strong early signal of how well a therapy works, can influence clinical trial success, regulatory decisions and future sales, and helps predict whether disease will come back much like spotting embers after a put-out fire.

accelerated approval regulatory

"regulatory applications for accelerated approval"

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.

private placement financial

"a private placement in October 2026"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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

LEXINGTON, Mass., Nov. 12, 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 financial and operating results for the third quarter ended September 30, 2026.

"We are encouraged by our progress in both the TakeAim CLL study and the TakeAim Lymphoma study," said James Dentzer, Chief Executive Officer of Curis. "The excitement among clinicians and patients reflects the clear unmet need in both CLL and PCNSL, where emavusertib has the potential to change the treatment landscape when combined with approved BTK inhibitors."

Operational Highlights

Curis is currently enrolling patients in 2 ongoing studies, the TakeAim CLL study (CA-4948-203, NCT07271667) and the TakeAim Lymphoma study in PCNSL (CA-4948-101, NCT03328078).

TakeAim CLL

The TakeAim CLL Study is an open label phase 2 study of emavusertib in combination with zanubrutinib in patients with CLL. To be eligible for enrollment, participants must have received zanubrutinib for at least 12 months, achieved a partial response (PR) or partial response with lymphocytosis (PR-L), and have measurable residual disease (MRD+) as determined by the clonoSEQ assay.

To date, 12 patients have been enrolled in the study with initial data expected in December 2026.

TakeAim Lymphoma

The TakeAim Lymphoma Study is a registrational study of emavusertib in combination with ibrutinib in patients with Relapsed/Refractory (R/R) PCNSL (CA-4948-101, NCT03328078). In 2025, Curis presented initial clinical data to the U.S. Food and Drug Administration (FDA) and European Medicines Agency's Committee for Medicinal Products for Human Use (EMA) and received guidance that the ongoing registrational study could support regulatory applications for accelerated approval in R/R PCNSL.

In July 2026, the Company reported updated data for 7 BTK-naïve and 39 BTKi-experienced patients:

		(as of July 1, 2026)
		Evaluable*		All
		Patients		Patients
BTKi-naïve		100% ORR		86% ORR
		(5 of 5)		(6 of 7)
BTKi-experienced		33% ORR		26% ORR
		(10 of 30)		(10 of 39)

* evaluable excludes patients who did not complete at least 1 cycle (~1 month) of treatment

About PCNSL and CLL

In PCNSL and CLL, disease is driven by NF-kB dysregulation, which is in turn driven by two biologic pathways: BCR and TLR¹. The goal of combining emavusertib with a BTK inhibitor (BTKi) in the TakeAim Lymphoma and TakeAim CLL Studies is to enable a dual blockade of NF-kB, by inhibiting both the BCR and TLR pathways. BTKi blocks the BCR pathway; emavusertib blocks the TLR pathway.

BTKi is an established standard of care in Relapsed/Refractory (R/R) PCNSL. For BTKi-naïve patients, response rates can be 39%-67%. For salvage-line patients, patients who have been treated with BTKi and progressed, outcomes are generally poor, with many patients proceeding directly to hospice or best supportive care. Initial clinical data have shown that adding emavusertib to a BTKi regimen, directly after a patient progresses on BTKi monotherapy, can enable patients to reverse their disease progression and achieve an objective response.

BTKi is also standard of care in CLL, where outcomes are more favorable than in PCNSL. In the registrational study for the BTKi zanubrutinib in CLL, 93% of patients were able to achieve an objective response, though only 7% achieved complete response². More recent clinical studies have shown that adding emavusertib to a BTKi regimen, blocking both the TLR and BCR pathways, can enable patients with NHL to achieve deeper responses, including complete responses or undetectable minimal residual disease (MRD).

Corporate

Completed a public offering in August 2026 and a private placement in October 2026 extending cash runway into 2027.

Third Quarter 2026 Financial Results

For the third quarter of 2026, Curis reported a net loss of $8.1 million or $1.94 per share on both a basic and diluted basis as compared to $7.7 million or $9.86 per share on both a basic and diluted basis, for the same period in 2025. Curis reported a net loss of $40.9 million or $16.77 per share on both a basic and diluted basis, for the nine months ended September 30, 2026, as compared to a net loss of $26.9 million or $43.82 per share on both a basic and diluted basis for the same period in 2025.

There was no revenue reported for the quarter or the year ended September 30, 2026 due to the sale of Erivedge^® royalties to Oberland in the fourth quarter of 2025. Revenues were $3.2 million and $8.3 million for the quarter and year ended September 30, 2025, respectively.

Research and development expenses were $5.6 million for the third quarter of 2026, as compared to $6.4 million for the same period in 2025. The decrease was primarily attributable to lower employee-related costs, partially offset by an increase in clinical costs. Research and development expenses were $18.8 million for the nine months ended September 30, 2026, as compared to $22.4 million for the same period in 2025.

General and administrative expenses were $3.2 million for the third quarter of 2026, as compared to $3.7 million for the same period in 2025. The decrease was primarily attributable to lower employee-related costs, partially offset by an increase in legal costs. General and administrative expenses were $11.4 million for the nine months ended September 30, 2026, as compared to $11.2 million for the same period in 2025.

Other income was $0.6 million for the third quarter of 2026, as compared to other expense of $0.8 million for the same period in 2025. The increase was primarily attributable to the change in fair value of the warrant liability associated with the January 2026 Private Placement, partially offset by a decrease in the expense related to the sale of future royalties. Other expense was $10.7 million for the nine months ended September 30, 2026, as compared to other expense of $1.6 million for the same period in 2025.

Curis's cash and cash equivalents totaled $5.0 million as of September 30, 2026, and the Company had approximately 4.1 million shares of common stock outstanding. The Company believes that the $5.0 million of existing cash and cash equivalents as of September 30, 2026, together with the net proceeds of approximately $7.5 million from the October 2026 Private Placement, should enable it to fund our existing operations into the first quarter of 2027.

Conference Call and Webcast Information 

Curis management will host a conference call today, November 12, 2026, at 4:30 p.m. ET, to discuss the business update and these financial results.

Participants may join by dialing (800)-836-8184 from the United States or (646)-357-8785 from other locations or a live audio webcast can be accessed here or from the investor section of the Curis website. A replay of the conference call will be available at www.curis.com.

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,  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; 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 Curis periodically makes 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.

1 Bennett, Curr Opin Hematol. 2022
2 Zanubrutinib USPI

 

CURIS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(In thousands, except share and per share data)
	Three Months Ended September 30,					Nine Months Ended September 30,
	2026		2025			2026		2025
Revenues, net	$              —		$      3,176			$             —		$       8,305
Operating expenses:
Cost of royalties	—		15			—		45
Research and development	5,595		6,432			18,758		22,429
General and administrative	3,153		3,653			11,449		11,163
Total operating expenses	8,748		10,100			30,207		33,637
Loss from operations	(8,748)		(6,924)			(30,207)		(25,332)
Total other income (expense)	628		(805)			(10,693)		(1,606)
Net loss	$       (8,120)		$     (7,729)			$     (40,900)		$    (26,938)
Net loss per common share (basic and diluted)	$         (1.94)		$       (9.86)			$       (16.77)		$      (43.82)
Weighted average common shares (basic and diluted)	4,178,648		784,109			2,439,370		614,771

 

CURIS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(In thousands)
		September 30, 2026				December 31, 2025
ASSETS
Cash and cash equivalents		$	5,014			$	5,061
Restricted cash		544				544
Prepaid expenses and other assets		3,370				3,427
Property and equipment, net		36				62
Operating lease right-of-use asset		853				1,890
Goodwill		8,982				8,982
Total assets		$	18,799			$	19,966
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable and accrued liabilities		$	15,508			$	12,886
Operating lease liability		740				1,618
Total liabilities		16,248				14,504
Total stockholders' equity (deficit)		2,551				5,462
Total liabilities and stockholders' equity (deficit)		$	18,799			$	19,966

 

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SOURCE Curis, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How long does Curis expect its cash to fund operations?

Curis expects its cash and October financing proceeds to fund existing operations into the first quarter of 2027. The estimate combines $5.0 million of cash and cash equivalents at September 30, 2026, with approximately $7.5 million in net proceeds from the October private placement.

When does Curis expect initial TakeAim CLL results?

Curis expects initial TakeAim CLL data in December 2026. The open-label phase 2 study has enrolled 12 patients and evaluates emavusertib combined with zanubrutinib.

How did Curis define evaluable patients in its TakeAim Lymphoma results?

Evaluable patients exclude those who did not complete at least one treatment cycle, approximately one month. As of July 1, 2026, objective response rates among evaluable patients were 100% (5 of 5) without prior BTK inhibitor treatment and 33% (10 of 30) among previously treated patients.

Who is eligible for Curis's TakeAim CLL study?

Participants must have received zanubrutinib for at least 12 months, achieved a partial response or partial response with lymphocytosis, and have measurable residual disease detected by the clonoSEQ assay. Residual disease means disease remains detectable after treatment.

What regulatory guidance has Curis received for TakeAim Lymphoma?

Guidance received in 2025 indicated that the ongoing registrational study could support applications for accelerated approval in relapsed/refractory primary central nervous system lymphoma. Curis presented initial clinical data to the FDA and the European Medicines Agency's Committee for Medicinal Products for Human Use.