Curis Inc. (NASDAQ: CRIS) is not exactly a household name, even when it comes to the land of biotech investors. The company has come under focus today after announcing that it is presenting data on its targeted cancer platform at the 102nd American Association for Cancer Research. Traders will care about this one, particularly when they realize that the stock’s not-so-giant gain is actually a 52-week high .
The company has three different drug development candidates that target cancer signaling networks. The belief is that these could be used to generate a range of small molecule inhibitors. They could also have varying functions, molecular compositions, and potential therapeutic utility in diverse cancer indications.
CUDC-101 is the lead drug candidate from Curis’ network-targeted cancer programs. The data in its CUDC-101 showed that the multi-targeted HDAC, EGFR and Her2 inhibitor appears to prevent drug resistance and tumor metastasis. This indicated that Erlotinib-resistant cancer cells and cancer cells harboring MET amplification are sensitive to the treatment of CUDC-101; and CUDC-101 reduces migration, invasion and epithelial-mesenchymal transition of cancer cells. These are in vitro tests, but may have the potential to simultaneously suppress tumor growth and overcome drug resistance.
The data of its CUDC-907 showed a long half-life in tumor tissue and oral bioavailability in preclinical models, which showed promising anti-proliferative and pro-apoptotic activity in hematologic cancer models.
The data regarding Debio 0932 highlighted the discovery of Debio 0932 (formerly CUDC-305) is presented as an orally bioavailable small molecule inhibitor of Heat Shock Protein 90 that is being tested in a Phase I clinical trial by Curis licensee Debiopharm.
Curis shares are up 7% at $3.95 today, and that marks a new 52-week high versus a 52-week low of $1.21. The market cap is now $300 million and we have seen some 445,000 shares trade hands versus an average volume of about 850,000 shares. For whatever it is worth, Curis was briefly worth $20.00 and a tad higher when it came public in 2001.
When traders see the volume pick up further and a new 52-week high, this one will become more of a focus in the coming days. How it trades will ultimately depend upon how well the presentations are received and what possibilities exist ahead for the company.
The company had about $40 million in cash and short-term securities at the end of 2010 and has no real long-term debt. It is going to need more partners or it is going to need to raise capital ahead as analysts from Thomson Reuters see a loss in both 2011 and 2012.
JON C. OGG
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