Curis Reports $24.2M Q1 Loss, Secures $80.8M PIPE Financing
Curis posted a Q1 net loss of $24.2 million on zero revenues versus a $10.6 million loss in Q1 2025, as R&D spending fell to $6.4 million. The company secured $80.8 million in PIPE financing, ended March with $15.0 million cash and advances emavusertib trials in PCNSL and CLL.
1. Q1 Financial Results
Curis reported a net loss of $24.2 million, or $1.25 per share, for the quarter ended March 31, 2026, compared with a $10.6 million loss in the same period of 2025. Revenues were nil following the fourth-quarter sale of Erivedge royalties, R&D expenses declined to $6.4 million, G&A expenses rose to $5.1 million, and other expense swelled to $12.7 million due to warrant liability adjustments.
2. PIPE Financing and Cash Position
In January 2026, Curis closed a private placement raising gross proceeds of up to $80.8 million through common stock and three series of warrants exercisable at $0.75 per share. As of March 31, 2026, cash and cash equivalents totaled $15.0 million, supporting ongoing development activities.
3. Emavusertib Clinical Programs
Emavusertib is in a Phase 1/2 TakeAim Lymphoma trial combining with ibrutinib for relapsed/refractory PCNSL, with orphan drug designations and submissions planned for accelerated approval. A Phase 2 TakeAim CLL study with zanubrutinib was initiated, and early data have emerged for combination regimens in gastric, esophageal and upcoming pancreatic cancer abstracts.