Curis Inc.-Biorakete-WKN:940909
The undersigned, being authorized thereunto, hereby
execute this agreement as an exhibit to this Schedule 13G to
evidence the agreement of the below-named parties, in accordance
with rules promulgated pursuant to the Securities Exchange Act of
1934, to file this Schedule, as it may be amended, jointly on
behalf of each of such parties...
mal schauen was morgen bekannt gegeben wird??
letzten news:
Tue, Feb 13, 2007
FILING An amendment to the SC 13G filing - Form SC 13G/A
FILING A statement of beneficial ownership of common stock by certain persons - Form SC 13G
Thu, Feb 01, 2007
8:04 AM Curis to Release Year End and Fourth Quarter 2007 Financial Results and Hold Conference Call on February 14, 2007 - Business Wire
Wed, Jan 31, 2007
8:10 AM Curis, Inc. Announces Dosing of First Patient in Hedgehog Antagonist Phase I Clinical Trial - Business
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CRIS 1.52 0.01
Today 5d 1m 3m 1y 5y 10y
Curis Reports Fourth Quarter and Year-End 2006 Financial Results
Curis, Inc. (NASDAQ:CRIS), a drug development company focusing on signaling pathway drug technologies to create new medicines primarily for cancer, today reported its financial results for the fourth quarter and fiscal year ended December 31, 2006.
For the fourth quarter of 2006, Curis reported net income of $680,000, or $0.01 per share (on both a basic and fully diluted basis) as compared to a net loss of $1,365,000, or ($0.03) per share for the same period in the prior year.
Net revenues for the fourth quarter of 2006 were $6,068,000 as compared to $3,509,000 for the fourth quarter of 2005, an increase of $2,559,000, or 73%. The increase in net revenues was primarily due to $3,000,000 in substantive milestone revenue associated with Genentech’s filing in October 2006 of an Investigational New Drug application with the FDA to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer. In addition, during the fourth quarter of 2006, Curis did not record any co-development costs under its basal cell carcinoma co-development arrangement with Genentech, which ended in August 2006. During the fourth quarter of 2005, the Company recorded $1,301,000 in co-development costs under such arrangement with Genentech, which were recorded as a reduction to revenues. These increases in net revenues in the fourth quarter of 2006 were partially offset by a $1,743,000 decrease in our research and development and license fee revenues.
Operating expenses for the fourth quarter of 2006 were $5,819,000 as compared to $5,263,000 for the fourth quarter of 2005, an increase of $556,000, or 11%. The primary changes in the Company’s research and development and general and administrative expenses are as follows:
Research and development spending increased to $3,595,000 for the fourth quarter of 2006 as compared to $3,295,000 for the same period in 2005. Spending increased primarily for the Company’s Targeted Drug Development Cancer Platform, which includes a series of new programs focusing on the development of multi-targeted inhibitors of validated cancer pathways. These increases were offset by decreases in spending on a majority of Curis' other research programs. In addition, we recognized an impairment charge of approximately $150,000 in the fourth quarter of 2006 related to the disposal of assets that are no longer used in operations, primarily assets used to conduct discovery research activities.
General and administrative spending was $2,224,000 for the fourth quarter of 2006 as compared to $1,949,000 for the same period in 2005, an increase of $275,000, or 14%. The increase in general and administrative expenses was principally due to an increase of $622,000 in stock-based compensation expense during the fourth quarter of 2006 as a result of the Company's adoption on January 1, 2006 of Statement of Financial Accounting Standards No. 123R, Share-Based Payments (SFAS 123R). This increase was partially offset by decreases in certain general and administrative cost categories, including a $191,000 decrease in legal costs incurred during the fourth quarter of 2006 as compared to the same period in 2005.
Other income for the fourth quarter of 2006 was $431,000 as compared to $389,000 for the same period in 2005, an increase of $42,000, or 11%.
Net loss for the year ended December 31, 2006 was $8,829,000 or ($0.18) per share as compared to $14,855,000 or ($0.31) per share for the year ended December 31, 2005.
Net revenues for the year ended December 31, 2006 were $14,936,000 as compared to $6,002,000 for 2005, an increase of $8,934,000, or 149%. The increase in net revenues was primarily due to a $5,271,000 decrease in contra-revenues recorded by the Company in 2006 as compared to 2005 under its basal cell carcinoma co-development arrangement with Genentech, which ended in August 2006. During 2006 and 2005, the Company recorded $1,728,000 and $6,999,000 in co-development costs, respectively, which were recorded as a reduction to revenues. In addition, in the fourth quarter of 2006, the Company recorded $3,000,000 in substantive milestone revenue associated with Genentech’s filing of an IND with the FDA to initiate Phase I clinical testing of a systemically administered small molecule Hedgehog antagonist for the treatment of cancer.
Operating expenses for the year ended December 31, 2006 were $24,991,000 as compared to $21,870,000 for the prior year, an increase of $3,121,000, or 14%. The primary changes in our research and development and general and administrative expenses are as follows:
Research and development spending increased by $885,000, or 6%, to $14,590,000 for 2006 as compared to $13,705,000 for 2005. Spending primarily increased for our Targeted Drug Development Cancer Platform, which includes a series of new programs focusing on the development of multi-targeted inhibitors of validated cancer pathways. These increases were offset by decreases in spending on a majority of Curis' other research programs.
General and administrative spending was $10,374,000 for 2006 as compared to $8,090,000 for 2005, an increase of $2,284,000, or 28%. The increase in general and administrative expenses was principally due to an increase of $2,650,000 in stock-based compensation expense recorded during 2006 as a result of the Company's adoption on January 1, 2006 of SFAS 123R.
Other income for the year ended December 31, 2006 was $1,226,000 as compared to other income of $1,012,000 for the year ended December 31, 2005, an increase of $214,000, or 21%. The increase was principally due to a $381,000 increase in interest income, offset in part by a decrease of $112,000 in interest expense in 2006 as compared to 2005.
As of December 31, 2006, Curis’ cash, cash equivalents and marketable securities were $36,656,000 and there were 49,333,854 shares of common stock outstanding.
2007 Financial Guidance
The Company expects that its existing cash, cash equivalents and marketable securities, together with contractually defined cash payments that Curis expects to receive under its collaborations, assuming such collaborations continue in accordance with their terms, will be sufficient to support its current operating plans into the second half of 2008. The Company expects to end 2007 with cash, cash equivalents and marketable securities of between $20,000,000 and $23,000,000.
The Company expects that its 2007 gross revenues from existing collaborators will be in a range of $4,000,000 to $5,000,000, excluding any future development milestones and assuming such collaborations continue in accordance with their terms. The Company expects that its 2007 research and development expenses will be between $12,500,000 and $15,000,000 and that its general and administrative expenses will be in a range of $9,900,000 to $11,200,000. These expense projections include between $500,000 and $700,000 and between $1,900,000 and $2,200,000 in stock-based compensation expense that is attributable to share-based awards outstanding at December 31, 2006, for research and development and general and administrative expense, respectively. Actual 2007 stock-based compensation expense may be higher since the Company expects to issue additional share-based awards in 2007 as part of its planned compensation programs, consistent with past practices. The amount of stock-based compensation expense allocable to Curis’ 2007 share-based awards will be based on a number of factors, including the number of stock awards issued in 2007, the fair market value of the Company’s common stock at the respective grant dates, and the specific terms of the stock award, and the key assumptions used in the valuation of the awards.