Curis shares hold Buy rating on symposium insights By Investing.com

On Thursday, H.C. Wainwright maintained a Buy rating and a price target of $26.00 for Curis (NASDAQ:CRIS). The firm’s stance follows the 3rd Annual Symposium on IRAK4 in Cancer, which was sponsored by Curis. The event featured discussions on IRAK4, a critical protein in the innate immune response, and its role in cancer, particularly B-cell lymphoma.

The symposium was led by experts Dr. Eric S. Winer of Dana-Farber Cancer Institute and Dr. Grzegorz S. Nowakowski from Mayo Clinic Comprehensive Cancer Center. It highlighted the potential for IRAK4 inhibition to work in synergy with other treatments for acute myeloid leukemia (AML) and non-Hodgkin’s lymphoma (NHL). Specifically, the combination of emavusertib (CA-4948) with Imbruvica (ibrutinib) was noted as promising for treating various MYD88 lymphomas, including waldenstrom macroglobulinemia and ABC-DLBCL.

Curis is currently evaluating emavusertib, an oral inhibitor of IRAK4, in its TakeAim Lymphoma study for the treatment of AML and NHL. The symposium concluded with a positive consensus among key opinion leaders (KOLs) on the potential of combination strategies involving emavusertib. These strategies include pairing the drug with aza plus ven in AML or with Imbruvica in NHL.

The update provided by Curis on its TakeAim Lymphoma study was a key point of discussion at the symposium. The firm’s reiteration of the Buy rating and $26 price target reflects the positive outlook on Curis’s ongoing research and potential treatment strategies.

In other recent news, biotechnology company Curis Inc (NASDAQ:). reported significant advancements in their TakeAim Lymphoma and TakeAim Leukemia studies during their second quarter 2024 earnings call. Despite a net loss of $11.8 million for the quarter, Curis remains optimistic due to the promising results of their drug emavusertib, which has demonstrated an objective response rate over 50% in primary central nervous system lymphoma (PCNSL) patients when combined with ibrutinib. Emavusertib has also received orphan drug designation in Europe for primary CNS lymphoma.

In addition, the drug showed objective responses in patients with splicing factor and FLT3 mutations in acute myeloid leukemia (AML). A new study combines emavusertib with azacitidine and venetoclax for frontline AML treatment. Curis is currently engaged in discussions with regulatory authorities regarding the drug’s development path in various cancer indications.

Curis reported $28.4 million in cash reserves and expects its current financial reserves to fund operations well into the first quarter of 2025. The company is also exploring strategic prioritization of patient populations to maximize the potential of emavusertib.

InvestingPro Insights

As Curis (NASDAQ:CRIS) continues to make strides in its cancer research, particularly with the IRAK4 protein, investors and analysts are closely monitoring the company’s financial health and stock performance. According to InvestingPro data, Curis has a market capitalization of $30.31 million, indicating its size within the biotechnology sector. Despite the company’s innovative approach to cancer treatment, it has not been profitable over the last twelve months, with a reported revenue of $10.16 million and significant losses reflected in its gross profit margin of -297.48%.

InvestingPro Tips suggest that analysts are cautious about the company’s near-term earnings potential, with four analysts having revised their earnings downwards for the upcoming period. Additionally, the stock has experienced considerable volatility and has seen a decline in price over the last week, month, and six months, with no dividends paid to shareholders. These factors may be of interest to investors considering the risk profile of their portfolios.

For those looking for more in-depth analysis, there are additional InvestingPro Tips available that can provide further guidance on Curis’s financials and stock performance. Interested readers can find more information and tips on the InvestingPro platform.

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