CRIS · Curis, Inc.

Curis reported a significantly widened Q1 2026 net loss of $24.2 million, or $1.25 per share, compared to $10.6 million last year, primarily due to a $12.7 million other expense from the change in fair value of warrant liabilities tied to the January 2026 PIPE financing. Revenues dropped to zero following the Q4 2025 sale of Erivedge royalties to Oberland, eliminating prior $2.4 million quarterly royalty income from Genentech and Roche. R&D expenses decreased to $6.4 million from $8.5 million, reflecting lower employee and manufacturing costs, while G&A rose to $5.1 million from $4.0 million due to PIPE-related expenses. As of March 31, 2026, cash stood at $15.0 million with 40.0 million shares outstanding. Management guides cash runway into the second half of 2027, contingent on $20.2 million gross proceeds from exercising Series B warrants upon dosing the fifth patient in the TakeAim CLL Phase 2 study with zanubrutinib, expected mid-2026. Operationally, emavusertib advances in TakeAim Lymphoma (ibrutinib combo for R/R PCNSL, enrollment ongoing, supports accelerated approval filings post-FDA/EMA discussions, orphan designations secured) and TakeAim CLL (zanubrutinib combo targeting deeper responses via dual NF-kB blockade). Initial solid tumor data showed manageable toxicity in gastroesophageal and upcoming pancreatic cancers. The PIPE provides up to $80.8 million total proceeds, bolstering funding amid no near-term revenue.