$CRIS

CURIS INC

CIK:0001108205|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues, net	$ 0	$ 2,749	$ 0	$ 5,129
Operating expenses:
Cost of royalties	0	16	0	30
Research and development	6,714	7,458	13,163	15,997
General and administrative	3,226	3,526	8,296	7,510
Total operating expenses	9,940	11,000	21,459	23,537
Loss from operations	(9,940)	(8,251)	(21,459)	(18,408)
Other income (expense):
Interest income	62	92	139	185
Expense related to the sale of future royalties	0	(434)	0	(986)
Change in fair value of warrant liabilities	1,297	0	(11,460)	0
Total other income (expense)	1,359	(342)	(11,321)	(801)
Net loss	$ (8,581)	$ (8,593)	$ (32,780)	$ (19,209)
Net loss per common share, basic (in dollars per share)	$ (4.02)	$ (13.61)	$ (21.08)	$ (36.33)
Net loss per common share, diluted (in dollars per share)	$ (4.02)	$ (13.61)	$ (21.08)	$ (36.33)
Weighted average common shares, basic (in shares)	2,135,906	631,475	1,555,317	528,699
Weighted average common shares, diluted (in shares)	2,135,906	631,475	1,555,317	528,699
Other comprehensive income:
Net loss and comprehensive loss	$ (8,581)	$ (8,593)	$ (32,780)	$ (19,209)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (8,581)	$ (8,593)	$ (32,780)	$ (19,209)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			16	101
Non-cash lease expense			684	620
Stock-based compensation expense			1,144	2,299
Non-cash activity related to the sale of future royalties			0	3
Issuance costs associated with warrant liabilities			1,406	0
Change in fair value of warrant liabilities	(1,297)	0	11,460	0
Changes in operating assets and liabilities:
Accounts receivable			0	597
Prepaid expenses and other assets			308	854
Accounts payable and accrued liabilities			(311)	119
Operating lease liability			(574)	(645)
Total adjustments			14,133	3,948
Net cash used in operating activities			(18,647)	(15,261)
Cash flows from investing activities:
Net cash provided by investing activities			0	0
Cash flows from financing activities:
Proceeds from issuance of common stock, preferred stock, pre-funded warrants, and common warrants, net of issuance costs			18,659	9,422
Payment of liability of future royalties, net of imputed interest			0	(4,020)
Net cash provided by financing activities			18,659	5,402
Net increase (decrease) in cash and cash equivalents and restricted cash			12	(9,859)
Cash and cash equivalents and restricted cash, beginning of period			5,605	20,541
Cash and cash equivalents and restricted cash, end of period	5,617	10,682	5,617	10,682
Supplemental cash flow data:
Reclassification of January 2026 Series A Common Warrants and January 2026 Series C Common Warrants liability to equity			28,599	0
Conversion of preferred stock to common stock and pre-funded warrants upon shareholder approval, net of issuance costs			2,261	0
Issuance costs in accounts payable and accrued expenses			56	808
Cash paid for interest			0	802
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	5,073	10,138	5,073	10,138
Restricted cash	544	544	544	544
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 5,617	$ 10,682	$ 5,617	$ 10,682

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 5,073	$ 5,061
Restricted cash, short-term	544	0
Prepaid expenses and other current assets	1,107	1,854
Total current assets	6,724	6,915
Property and equipment, net	46	62
Restricted cash, long-term	0	544
Operating lease right-of-use asset	1,206	1,890
Other assets	2,012	1,573
Goodwill	8,982	8,982
Total assets	18,970	19,966
Current liabilities:
Accounts payable	5,388	5,612
Accrued liabilities	7,243	7,274
Current portion of operating lease liability	1,044	1,190
Total current liabilities	13,675	14,076
Long-term operating lease liability	0	428
Warrant liability	600	0
Total liabilities	14,275	14,504
Stockholders’ equity:
Preferred stock, $0.01 par value—5,000,000 shares authorized, no shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.01 par value—567,514,300 shares authorized, 1,949,041 shares issued and outstanding at June 30, 2026; 68,343,750 shares authorized, 646,537 shares issued and outstanding at December 31, 2025	19	6
Additional paid-in capital	1,284,837	1,252,837
Accumulated deficit	(1,280,161)	(1,247,381)
Total stockholders’ equity	4,695	5,462
Total liabilities and stockholders’ equity	$ 18,970	$ 19,966