Curis Inc. (NASDAQ:CRIS) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.98%.
Curis Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.06 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Decreased 91.31% to $900,000 from the year-earlier quarter.
Actual vs. Wall St. Expectations: Curis Inc. reported adjusted EPS loss of $0.06 per share. By that measure, the company missed the mean analyst estimate of $-0.03. It missed the average revenue estimate of $3.86 million.
Quoting Management: “This quarter was marked by the continued progress of our proprietary drug candidates, including the enrollment of the first dosing cohort for our Phase I clinical trial in advanced lymphomas and multiple myeloma patients of CUDC-907, a dual targeted PI3K and HDAC inhibitor, as well as our advancement of IAP inhibitor CUDC-427 towards initiation of a Phase II development campaign,” said Ali Fattaey, President and Chief Operating Officer of Curis.
Key Stats (on next page)…
Revenue decreased 46.75% from $1.69 million in the previous quarter. EPS increased to $-0.06 in the quarter versus EPS of $-0.15 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.04 to a loss $0.03. For the current year, the average estimate has moved down from a loss of $0.19 to a loss of $0.22 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)