Curis Q1 net loss rises to $24.2 million from $10.6 million a year earlier
Curis reported a first-quarter 2026 net loss of $24.2 million, or $1.25 per share, compared with $10.6 million, or $1.25 per share, a year earlier. Revenue fell to zero after the company sold its Erivedge royalties to Oberland in the fourth quarter of 2025, and a change in the fair value of a warrant liability drove most of the larger loss. The company says its planned operations into the second half of 2027 depend on warrant exercises tied to a clinical milestone.
Key points
- Q1 2026 revenue was zero, compared with $2.4 million in Q1 2025, after the Erivedge royalty sale to Oberland.
- Other expense was $12.7 million, mainly from the change in fair value of the warrant liability tied to the January 2026 PIPE Financing, versus $0.5 million a year earlier.
- Cash and cash equivalents were $15.0 million at March 31, 2026; the filing states the company does not have sufficient cash to support operations for the next 12 months.
- Up to $20.2 million from Series B warrant exercises depends on announcing dosing of the fifth CLL patient, which is expected later this year.
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 12, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.