Curis Earnings: Here’s Why Shares are Down Now
Curis Inc. (NASDAQ:CRIS) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.25%.
Curis Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.02 in the quarter versus EPS of $-0.04 in the year-earlier quarter.
Revenue: Rose 24.14% to $5.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Curis Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.05. It beat the average revenue estimate of $4.43 million.
Quoting Management: “In addition to our efforts on Curis’ proprietary programs, our collaborator Genentech/Roche continues to successfully advance its global commercialization strategy for Erivedge(NYSE:R), with recent regulatory approvals in the European Union and Australia, among others,” said Dan Passeri, Chief Executive Officer of Curis. “We are also highly encouraged with Erivedge’s sales growth, with Roche reporting a net sales increase of approximately 22% in the second quarter versus the previous quarter. We expect continued growth in the U.S. market and anticipate Roche’s commercial launch in additional markets in the coming months.”
Key Stats (on next page)…