On Tuesday, Curis (NASDAQ:CRIS) discussed first-quarter financial results during its earnings call. The full transcript is provided below.
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Summary
Curis Inc reported a net loss of $24.2 million for Q1 2026, up from $10.6 million in Q1 2025, due to changes in warrant liabilities.
The company is progressing with its Take Aim Lymphoma Study and anticipates accelerated submissions in the US and Europe.
A proof of concept study for CLL is underway, with initial data expected in December 2026.
Research and development expenses decreased to $6.4 million, while general and administrative expenses increased to $5.1 million due to financing activities.
Curis Inc holds $15 million in cash and expects additional proceeds from warrant exercises to fund operations into the second half of 2027.
Full Transcript
OPERATOR
Good afternoon ladies and gentlemen and welcome to the Curis Inc. first quarter 2026 business update conference Call. At this time all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press 0 for the operator. This call is being recorded on Tuesday, May 12, 2026. I would now like to turn the conference over to Diane Feduval, Chief Financial Officer. Please go ahead. Thank you and welcome to the Curis first quarter 2026 business update call. Before we begin, I’d like to encourage everyone to go to the Investor section of our website at www.curis.com to find our first quarter 2026 business update press release and related financial tables. I would also like to remind everyone that during the call we will be making forward looking statements which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties and actual results may differ materially. For additional details, please see our SEC filings. Joining me today on today’s call are Jim Dentzer, President and Chief Executive Officer, Dr. Jonathan Zung, Chief Development Officer, and Dr. Ahmed Hamdi, Chief Medical Officer. We will also be available for a question and answer period at the end of the call. I’d now like to turn the call over to Jim.
Jim Dentzer (President and Chief Executive Officer)
Thank you Diane Good afternoon everyone and welcome to our First Quarter Business Update call. We continue to make steady progress in our Take Aim Lymphoma Study in primary CNS lymphoma, one of the most rare and most difficult to treat of the NHL subtypes. As a reminder, the Take Aim Lymphoma Study is a single arm registrational study with an ORR endpoint that is evaluating EMAvucertib in combination with ibrutinib after a patient has progressed on BTK inhibitor therapy and after collaborative discussions with both FDA and EMA. We expect the study to support accelerated submissions in both the US And Europe. We anticipate providing updated EMAvucertib clinical data from the Take Aim Lymphoma Combination Study with Ibrutinib and in patients with relapsed refractory PCNSL in the first half of 2027. We continue to make good progress on enrollment on this registrational study and appreciate the ongoing support of our clinical investigators, key opinion leaders, and regulatory authorities. As you recall, last year we engaged with a number of key opinion leaders who were excited and highly supportive about expanding our emavucertib studies into additional NHL subtypes. They were especially interested in exploring emivacertib’s potential to fundamentally change the treatment paradigm for CLL patients where the current standard of care is BTK inhibitors. Over the last decade, BTK inhibitors have become standard of care in CLL and NHL because of their ability to help patients achieve objective responses. However, these responses are typically partial responses not complete remission. The result is that patients treated with a BTK inhibitor end up having to stay on it in chronic treatment for the rest of their lives. Additionally, because they never achieve complete remission, many of these patients develop BTK inhibitor resistant mutations and ultimately their disease progresses. We’re looking to improve upon the current standard of care by adding emavucertib to a patient’s BTK inhibitor regimen, applying a dual blockade to the two biologic pathways driving cll. This dual blockade can enable patients whose NHL subtype partially responds to a BTK inhibitor to achieve deeper responses with the combination, including the ability to achieve complete remission or undetectable disease and the potential for time limited treatment. If we are successful, adding emovacertib to BTK inhibitor could change the treatment paradigm in cll, reducing the risk of developing a treatment resisting mutation and improving a patient’s overall quality of life.
Jim Dentzer (President and Chief Executive Officer)
The first step in testing this hypothesis in CLL is our proof of concept study in patients currently on BTK inhibitor monotherapy who have achieved partial remission but have been unable to achieve complete remission or undetectable mrd. We anticipate the dosing of the initial five patients in the Take Aim CLL combination study with zanabrutinib by mid-2026 and we expect to have initial data in December. In January we one of our collaborators, Dr.
Jim Dentzer (President and Chief Executive Officer)
Patrick Grierson of the Seitman Cancer center at Washington University in St. Louis presented a poster with initial clinical data in gastric and esophageal cancer at the ASCOGI Cancers Symposium. In this study, patients are treated with emivacertib in combination with FOLFOX and anti PD1 plus or minus Herceptin as first line therapy for metastatic or unresectable gastroesophageal cancers. The initial data showed results for 16 valuable patients demonstrating both a manageable toxicity profile and encouraging preliminary results.
Jim Dentzer (President and Chief Executive Officer)
As you can see, we had a very productive quarter and look forward to an exciting 2026 as we advance our registrational study in PC and SL and our proof of concept study in cll. With that, I’ll turn the call back over to Diane for the financial update. Diane, thank you.
Diane Feduval (Chief Financial Officer)
Curis reported a net loss of 24.2 million or $1.25 per share for the first quarter of 2026 as compared to a net …
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