What are the investment strengths of Curis Inc (CRIS)?

99.5% gross margin TTM shows royalty/licensing revenue model with minimal COGS - if pipeline succeeds, operating leverage is extreme EV of 11.3M for a biotech with active R&D pipeline (31.4M spend) - market pricing near-zero probability of success

What are the investment risks for Curis Inc (CRIS)?

3-4 month cash runway with -30M annual burn and negative equity - survival depends entirely on external financing Revenue of 11.7M TTM with only 3% 5Y CAGR shows no commercial traction despite years of R&D investment

Curis Inc

CRIS

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Curis Inc AI Insights

Informational only. Not investment advice.

As of 2025-12-17

Snapshot

Negative equity (-14.7M) with goodwill at 8.9M means tangible book is -23.7M - technically insolvent on book basis[Common Stockholders Equity]
Cash burn of 30.1M TTM vs 9.1M cash remaining = ~3.6 months runway without new financing[Free Cash Flow TTM]
R&D spend of 31.4M TTM is 270% of revenue (11.7M) - pure development-stage biotech profile[Research and Development TTM]

Watch Triggers

Cash and Equivalents: Falls below 5M or new financing announced — At current burn, sub-5M cash means weeks of runway - financing terms will be dilutive
Total Revenue TTM: Milestone payment or royalty step-up above 15M — Would signal pipeline progress and extend runway without dilution
Research and Development TTM: Drops below 20M quarterly run rate — R&D cuts signal either cash preservation or pipeline abandonment

Bull Case

99.5% gross margin TTM shows royalty/licensing revenue model with minimal COGS - if pipeline succeeds, operating leverage is extreme

Gross Margin TTMCost of Revenue TTM

EV of 11.3M for a biotech with active R&D pipeline (31.4M spend) - market pricing near-zero probability of success

Enterprise ValueResearch and Development TTM

Bear Case

3-4 month cash runway with -30M annual burn and negative equity - survival depends entirely on external financing

Cash and EquivalentsFree Cash Flow TTMTotal Equity

Revenue of 11.7M TTM with only 3% 5Y CAGR shows no commercial traction despite years of R&D investment

Total Revenue TTMTotal Revenue 5yr Growth

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

20%

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Forward Thesis

Imminent dilution or financing event required within 6 months to avoid liquidity crisis

3-12mhigh

Cash burn rate of 30M/yr vs 9M cash
Already raised 6M via stock issuance recently
Negative working capital of -6M

FCF TTM: -30.1MCash: 9.1MIssuance of Capital Stock: 6M

Valuation Context

Caveats

Public Strategies Rankings

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CRIS Fundamentals

Manufacturing → Chemical Manufacturing

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$0		—
Enterprise Value	$0		—
P/E Ratio	0.00		—
Total Revenue - TTM	$9.44M	-13.4%	—
Earnings Per Share (diluted) - TTM	$0.00		—
Operating Margin - TTM	-348%	+59.9%	—
Net Margin - TTM	-80.3%	+317.5%	—
Free Cash Flow - TTM	$-27.2M		—
Return on Common Equity - TTM	2,829%		—
Beta 5Y (Monthly)	unknown		—

CRIS Dividend History

No dividends

CRIS Stock Splits

2 stock splits

09/29/2320:1 split

05/30/185:1 split

CRIS SEC Filings

Filing Date	Report Date	Report Type	Filing Link
03/24/26	12/31/25	10-K	0001108205-26-000043
11/06/25	09/30/25	10-Q	0001108205-25-000107
08/05/25	06/30/25	10-Q	0001108205-25-000080
05/06/25	03/31/25	10-Q	0001108205-25-000046
03/31/25	12/31/24	10-K	0001108205-25-000031
11/14/24	09/30/24	10-Q	0001108205-24-000072
08/01/24	06/30/24	10-Q	0001108205-24-000062
05/07/24	03/31/24	10-Q	0001108205-24-000033
02/08/24	12/31/23	10-K	0001108205-24-000010
11/02/23	09/30/23	10-Q	0001108205-23-000074
08/03/23	06/30/23	10-Q	0001108205-23-000060
05/04/23	03/31/23	10-Q	0001108205-23-000049
03/13/23	12/31/22	10-K	0001108205-23-000023
11/09/22	09/30/22	10-Q	0001108205-22-000023
08/04/22	06/30/22	10-Q	0001108205-22-000009
05/05/22	03/31/22	10-Q	0001108205-22-000005
02/24/22	12/31/21	10-K	0001108205-22-000002
11/09/21	09/30/21	10-Q	0001108205-21-000012
08/03/21	06/30/21	10-Q	0001108205-21-000009
05/12/21	03/31/21	10-Q	0001108205-21-000006
03/16/21	12/31/20	10-K	0001108205-21-000003
11/10/20	09/30/20	10-Q	0001108205-20-000016
08/04/20	06/30/20	10-Q	0001108205-20-000012
05/12/20	03/31/20	10-Q	0001108205-20-000007
03/19/20	12/31/19	10-K	0001108205-20-000003
11/05/19	09/30/19	10-Q	0001108205-19-000020
08/09/19	06/30/19	10-Q	0001108205-19-000013
05/14/19	03/31/19	10-Q	0001108205-19-000008
03/26/19	12/31/18	10-K	0001108205-19-000004
11/01/18	09/30/18	10-Q	0001108205-18-000017
08/02/18	06/30/18	10-Q	0001108205-18-000013
05/03/18	03/31/18	10-Q	0001108205-18-000010
03/08/18	12/31/17	10-K	0001108205-18-000005
11/07/17	09/30/17	10-Q	0001108205-17-000017
08/03/17	06/30/17	10-Q	0001108205-17-000012
05/04/17	03/31/17	10-Q	0001108205-17-000009
03/09/17	12/31/16	10-K	0001108205-17-000006
11/03/16	09/30/16	10-Q	0001628280-16-020671
08/04/16	06/30/16	10-Q	0001193125-16-670967
05/09/16	03/31/16	10-Q	0001193125-16-582810
02/29/16	12/31/15	10-K	0001193125-16-484817
11/09/15	09/30/15	10-Q	0001193125-15-371270
08/06/15	06/30/15	10-Q	0001193125-15-280043
05/07/15	03/31/15	10-Q	0001193125-15-176676
02/24/15	12/31/14	10-K	0001193125-15-060006
11/10/14	09/30/14	10-Q	0001193125-14-404759
08/07/14	06/30/14	10-Q	0001193125-14-300506
05/09/14	03/31/14	10-Q	0001193125-14-191561
03/13/14	12/31/13	10-K	0001193125-14-097662
11/12/13	09/30/13	10-Q	0001193125-13-437655
08/08/13	06/30/13	10-Q	0001193125-13-326082
05/09/13	03/31/13	10-Q	0001193125-13-210189
03/13/13	12/31/12	10-K	0001193125-13-104455
11/06/12	09/30/12	10-Q	0001193125-12-453634
08/09/12	06/30/12	10-Q	0001193125-12-345451
05/10/12	03/31/12	10-Q	0001193125-12-224909
02/29/12	12/31/11	10-K	0001193125-12-089082
10/31/11	09/30/11	10-Q	0001193125-11-288471
08/04/11	06/30/11	10-Q	0001193125-11-210183
04/28/11	03/31/11	10-Q	0001193125-11-114220
03/08/11	12/31/10	10-K	0001193125-11-059249
10/28/10	09/30/10	10-Q	0001193125-10-239672
08/03/10	06/30/10	10-Q	0001193125-10-175149
05/06/10	03/31/10	10-Q	0001193125-10-110812
03/03/10	12/31/09	10-K	0001193125-10-046906
10/29/09	09/30/09	10-Q	0001193125-09-217368
07/30/09	06/30/09	10-Q	0001193125-09-159218
05/05/09	03/30/09	10-Q	0001193125-09-099822
02/26/09	12/31/08	10-K	0001193125-09-038832
10/28/08	09/30/08	10-Q	0001193125-08-217818
07/30/08	06/30/08	10-Q	0001193125-08-161094
04/30/08	03/30/08	Unknown	--
03/14/08	12/31/07	5	0001181431-08-003291
10/30/07	09/30/07	10-Q	0001193125-07-229373
07/31/07	06/30/07	10-Q	0001193125-07-166238
05/02/07	03/30/07	Unknown	--
03/02/07	12/31/06	10-K	0001193125-07-045291
11/09/06	09/30/06	10-Q	0001193125-06-229474
07/28/06	06/30/06	10-Q	0001193125-06-155670
05/10/06	03/30/06	Unknown	--
03/31/06	12/31/05	NT 10-K	0001193125-06-058202
11/14/05	09/30/05	NT 10-Q	0001193125-05-221872
08/09/05	06/30/05	10-Q	0001193125-05-161707
04/29/05	03/30/05	Unknown	--
03/15/05	12/31/04	10-K	0001193125-05-050973
10/26/04	09/30/04	10-Q	0001193125-04-177786
07/20/04	06/30/04	10-Q	0001193125-04-120669
04/28/04	03/30/04	Unknown	--
03/01/04	12/31/03	10-K	0001193125-04-031548
11/12/03	09/30/03	10-Q	0001193125-03-078575
08/08/03	06/30/03	10-Q	0001193125-03-031151
05/07/03	03/30/03	Unknown	--
03/14/03	12/31/02	10-K	0000927016-03-001100
11/12/02	09/30/02	10-Q	0000927016-02-005405
08/14/02	06/30/02	10-Q	0000927016-02-004138
05/15/02	03/30/02	Unknown	--
03/29/02	12/31/01	10-K405	0000927016-02-001731
11/14/01	09/30/01	10-Q	0000927016-01-503767
08/14/01	06/30/01	10-Q	0000927016-01-502500
05/10/01	03/30/01	Unknown	--
03/30/01	12/31/00	10-K	0000927016-01-001616
11/14/00	09/30/00	10-Q	0000927016-00-004024