Curis (NASDAQ:CRIS) Receives Positive Analyst Rating Despite Minor Decline in Complete Response Rate
Jones Trading maintains Buy rating and $18.00 price target for Curis, a biotechnology company, following the presentation of new data on the combination of emavusertib and ibrutinib in treating relapsed/refractory primary CNS lymphoma. Although the complete response rate experienced a slight decrease in a larger patient cohort, the latest results still show promising figures with a 30% CR rate and 60% ORR among evaluated patients.
Analysts note that additional data from five patients need more time to mature, indicating potential for improved responses over time. This combination therapy appears to resensitize patients who have not responded to ibrutinib alone, a significant finding in the relapsed/refractory disease setting.
Primary CNS lymphoma market accounts for less than 5% of Curis's price target calculation, with focus shifting to upcoming initial data for first-line acute myeloid leukemia. Despite a net loss in Q2 2024, Curis remains optimistic about the potential of emavusertib in treating PCNSL and AML patients.
With $28.4 million in cash reserves, Curis expects to fund operations into Q1 2025. Analysts at H.C. Wainwright maintain a Buy rating and $26.00 price target for the company, emphasizing the potential of emavusertib in various cancer indications.
InvestingPro Insights:
- Market capitalization: $31.15 million
- Revenue (Last 12 months): $10.16 million
- Quarterly revenue growth (Q2 2024): 15.89%
- Volatility: 14.21% decline in the past week, 53.36% drop in the last six months
- Analysts do not anticipate profitability this year due to heavy investment in R&D
InvestingPro Tips suggest further analysis for investors considering Curis, especially given the ongoing clinical trials and market potential in CNS lymphoma and AML. Stay informed to make wise investment decisions in the biotech sector.
In conclusion, despite a minor setback in CR rate, Curis shows promise in its innovative therapies for challenging diseases like primary CNS lymphoma and AML. Investors should keep an eye on upcoming data releases and market trends to make informed decisions about their financial portfolios.
