Here's Why Curis, Inc. Dropped as Much as 14.5% This Morning
Shares of clinical-stage biopharma Curis, Inc. (NASDAQ: CRIS) dropped over 14% this morning after the company released second-quarter 2017 financial results and provided an update on a phase 2 trial. The company's most advanced drug candidate, CUDC-907, did not deliver results that will allow for accelerated approval -- a goal that influenced the phase 2 trial's design in the first place -- in treating diffuse large B-cell lymphoma, or DLBCL, with specific genetic mutations.
Management says it will consider alternative designs for a separate trial that could potentially lead to accelerated approval, but today's news is obviously a setback for Curis and its shareholders. That's doubly true considering that the company's net loss swelled by nearly 50% in the first half of 2017 compared to the year-ago period.
As of 11:32 a.m. EDT, the stock had settled to a 7.8% loss.
Source: Fool.com
Curis Inc. Stock
Curis Inc. is currently one of the favorites of our community with 9 Buy predictions and no Sell predictions.
Based on the current price of 0.36 € the target price of 23 € shows a potential of 6281.8% for Curis Inc. which would more than double the current price.
