Capstone Holding Corp. lowers convertible note conversion price to $1.00
On Tuesday, H.C. Wainwright maintained a Buy rating on Curis (NASDAQ:CRIS) shares, but lowered the price target to $16.00 from the previous $20.00. The stock, currently trading at $2.10, has seen significant pressure, falling 83% over the past year. According to InvestingPro analysis, the company appears undervalued based on its Fair Value calculations, with analyst targets ranging from $16.00 to $26.00. The adjustment follows an update from the ongoing TakeAim Lymphoma trial, which evaluates emavusertib in combination with Imbruvica for the treatment of relapsed/refractory (r/r) primary CNS lymphoma (pCNSL).
Emavusertib, a novel oral small molecule inhibitor of IRAK4, is being studied for its efficacy in acute myeloid leukemia (AML) and non-Hodgkin’s lymphoma (NHL). The drug has received Orphan Drug Designation in both the U.S. and EU for pCNSL treatment. According to the data cutoff on January 2, 2025, the trial included 27 patients with r/r pCNSL, with 20 having prior exposure to BTK inhibitors and 7 being naive to such treatment.
The update revealed that out of the 13 BTK inhibitor-experienced patients with available data, 9 showed a reduction in tumor burden. Curis reported six objective responses, including four complete responses (CRs) and two partial responses (PRs), with three CRs lasting over six months. Among the BTK inhibitor-naive patients, five out of six demonstrated a reduction in tumor burden, with one CR and four PRs observed.
Curis has engaged in productive discussions with the FDA and EMA regarding the potential use of the TakeAim Lymphoma study to support an accelerated approval pathway for emavusertib in pCNSL. H.C. Wainwright anticipates the launch of emavusertib for this indication in 2027, a year earlier than previously expected, forecasting sales of $2.6 million in its launch year, with a significant increase to $59.2 million by 2029.
In other recent news, Curis Inc. reported a significant improvement in its financial performance for the fourth quarter of 2024, with a net loss of $9.6 million compared to a $117 million loss in the same period last year. The company successfully raised approximately $20.8 million through direct offerings, extending its financial runway to the fourth quarter of 2025. Curis continues to advance its Emavucertib development in key therapeutic areas, including primary CNS lymphoma and acute myeloid leukemia, with plans to complete enrollment in its ongoing Phase III study within the next 12 to 18 months. The company is also engaged in potential partnership discussions in the NHL and AML spaces, aiming to leverage its unique therapeutic mechanisms. Despite the narrowed losses, Curis’s stock experienced a minor decrease in premarket trading, reflecting cautious investor sentiment. Raymond (NSE:RYMD) James and Cantor Fitzgerald analysts have shown interest in Curis’s ongoing clinical trials and strategic initiatives. Curis’s cash burn rate remains a concern, with approximately $10 million per quarter, but the company is optimistic about its future, citing positive feedback from regulatory agencies on its clinical programs.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.