Curis, Inc. (CRIS) saw its loss widen to $28.34 million, or $0.21 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $5.54 million, or $0.04 a share.
Revenue during the quarter dropped 13.99 percent to $1.76 million from $2.04 million in the previous year period.
Operating loss for the quarter was $27.79 million, compared with an operating loss of $4.84 million in the previous year period.
"We are pleased with our progress this quarter, and remain focused on patient enrollment within our two clinical programs. CA-170’s Phase 1 trial is progressing rapidly through the dose escalation stage with no limiting adverse safety effects," said Ali Fattaey, Ph.D., Curis's chief executive officer. "Additionally, we continue to enroll at multiple centers in the Phase 2 trial of CUDC-907 in patients with relapsed/refractory DLBCL. Our goal is to assess CUDC-907’s efficacy in patients with MYC-altered DLBCL and we expect to use this information for discussion with the FDA in 2017."
Debt comes down
Curis has recorded a decline in total debt over the last one year. It stood at $20.90 million as on Sep. 30, 2016, down 18.12 percent or $4.63 million from $25.53 million on Sep. 30, 2015. Total debt was 31.58 percent of total assets as on Sep. 30, 2016, compared with 24.06 percent on Sep. 30, 2015. Debt to equity ratio was at 0.55 as on Sep. 30, 2016, up from 0.34 as on Sep. 30, 2015.
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