Here's Why Curis, Inc. Dropped as Much as 14.5% This Morning

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.

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Source: Fool.com