Curis Swings to $19.4M Q4 Profit and Extends Cash Runway to H2 2027
Curis reported Q4 net income of $19.4 million ($1.23 per share) reversing its prior-year loss and has cash to fund operations into H2 2027 after a January 2026 PIPE. Management expects no 2026 revenue following the Erivedge royalty stream sale while CLL dosing remains undosed and PCNSL enrollment is choppy.
1. Financial Results and Cash Runway
In Q4 2025 Curis reported net income of $19.4 million or $1.23 per share compared to a $9.6 million loss in Q4 2024, while full-year 2025 showed a net loss of $7.6 million or $0.58 per share versus a $43.4 million loss in 2024. A January 2026 PIPE financing bolstered its cash position, which is expected to fund operations into the second half of 2027.
2. 2026 Revenue Impact
Following the November 2025 sale of its Erivedge royalty stream to Oberland, Curis will record no meaningful revenue in 2026 as all remaining Erivedge cash flows are directed to the buyer.
3. AML Triplet Study Progress
Curis presented data from its AML triplet study showing that five of eight evaluable patients achieved measurable residual disease conversion, signaling promising activity that may inform future development strategies.
4. NHL Focus and Enrollment Challenges
The company has initiated site activation in the US and Europe for its CLL proof-of-concept study but has not yet dosed its first patient, and enrollment in the PCNSL trial remains choppy due to the rarity of the condition; management expects initial CLL data at the upcoming ASH annual meeting.