Curis, Inc. (Cris): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da biotecnologia, a Curis, Inc. (CRIS) surge como uma força pioneira na pesquisa de oncologia, alavancando um modelo de negócios sofisticado que preenche terapias moleculares inovadoras com parcerias estratégicas. Ao se concentrar intensamente nos tratamentos direcionados ao câncer e ao desenvolvimento de candidatos terapêuticos de ponta, Curis navega no complexo ecossistema farmacêutico com precisão e visão. Sua abordagem única combina experiência científica avançada, estratégias de pesquisa colaborativa e um compromisso de atender às necessidades médicas não atendidas, posicionando a empresa na vanguarda da medicina de precisão e da pesquisa transformadora do câncer.

Curis, Inc. (Cris) - Modelo de Negócios: Parcerias -Chaves

Colaborações de pesquisa farmacêutica com instituições acadêmicas

A partir de 2024, a Curis, Inc. mantém parcerias estratégicas de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco na pesquisa	Ano de colaboração
Instituto de Câncer Dana-Farber	Pesquisa de oncologia de precisão	2022
Hospital Geral de Massachusetts	Terapêutica de câncer direcionada	2023

Alianças estratégicas com empresas de biotecnologia

Curis estabeleceu as principais parcerias de biotecnologia:

• Genentech (subsidiária da Roche): colaboração em andamento em terapêutica do câncer
• Aurigene Discovery Technologies: Programa Conjunto de Descoberta de Medicamentos

Parcerias em potencial com organizações de pesquisa clínica

Nome do CRO	Suporte ao ensaio clínico	Valor do contrato
Iqvia	Ensaios de oncologia da Fase I/II	US $ 3,2 milhões
Parexel International	Estudos clínicos de medicina de precisão	US $ 2,7 milhões

Financiamento e concessão relacionamentos com agências governamentais

Fontes de financiamento do governo para iniciativas de pesquisa Curis, Inc.:

• Instituto Nacional do Câncer (NCI): Grant de Pesquisa de US $ 1,5 milhão
• Institutos Nacionais de Saúde (NIH): US $ 2,3 milhões com financiamento terapêutico direcionado

Curis, Inc. (Cris) - Modelo de Negócios: Atividades -chave

Descoberta e desenvolvimento de medicamentos focados em oncologia

No quarto trimestre 2023, a Curis, Inc. está ativamente envolvida no desenvolvimento de terapêuticas direcionadas ao câncer, com um foco específico em estratégias de direcionamento molecular.

Categoria de pesquisa	Status atual	Programas ativos
Oncologia de precisão	Desenvolvimento contínuo	5 alvos moleculares primários
Imuno-oncologia	Pesquisa em estágio clínico	3 candidatos terapêuticos avançados

Pesquisa pré -clínica e clínica para terapêutica de câncer

Curis mantém um pipeline de pesquisa robusto com vários candidatos terapêuticos em vários estágios de desenvolvimento.

• Investimento total de pesquisa em 2023: US $ 42,3 milhões
• Número de ensaios clínicos ativos: 4
• Fases do ensaio clínico: Fase 1, Fase 2

Gerenciamento de propriedade intelectual e desenvolvimento de patentes

A Curis gerencia estrategicamente seu portfólio de propriedade intelectual para proteger terapias moleculares inovadoras.

Categoria de patentes	Total de patentes	Faixa de expiração da patente
Tecnologias de direcionamento molecular	17 patentes ativas	2028-2036
Composições terapêuticas	9 Aplicações pendentes	2030-2040

Pesquisa e desenvolvimento de terapias moleculares direcionadas

Curis se concentra no desenvolvimento de terapias moleculares de precisão com possíveis mecanismos de avanço.

• Despesas de P&D em 2023: US $ 53,7 milhões
• Tamanho da equipe de pesquisa: 87 cientistas
• Áreas de pesquisa primárias:
  • Terapias direcionadas a HGNC
  • Moduladores de ponto de verificação imune
  • Plataformas de oncologia de precisão

Curis, Inc. (Cris) - Modelo de Negócios: Recursos -Principais

Pesquisa avançada e instalações de laboratório

A Curis, Inc. mantém instalações de pesquisa localizadas em Cambridge, Massachusetts. A partir de 2024, a infraestrutura de pesquisa da empresa suporta programas de desenvolvimento de medicamentos pré-clínicos e de estágio clínico.

Tipo de instalação	Localização	Foco na pesquisa
Centro de Pesquisa Primária	Cambridge, MA	Tecnologias de direcionamento molecular

Especializada experiência científica e médica

A Curis emprega uma equipe científica especializada com experiência em oncologia e medicina de precisão.

• Total de funcionários (Q4 2023): 62 pessoal
• Pessoal de pesquisa e desenvolvimento: aproximadamente 45 funcionários
• Ph.D. e pesquisadores de nível MD: 32 membros da equipe

Tecnologias de segmentação molecular proprietária

Curis se desenvolveu Plataformas de segmentação molecular proprietária focado na terapêutica do câncer.

Plataforma de tecnologia	Estágio de desenvolvimento
Plataforma Hicon ™	Desenvolvimento pré -clínico/clínico

Portfólio de propriedade intelectual

A Curis mantém um portfólio robusto de propriedade intelectual que protege suas tecnologias de desenvolvimento de medicamentos.

• Total de patentes concedidas: 37
• Aplicações de patentes pendentes: 15
• Jurisdições de patentes: Estados Unidos, Europa, Japão

Financiamento de pesquisa e desenvolvimento

A Curis garante financiamento por meio de várias fontes para apoiar suas iniciativas de pesquisa.

Fonte de financiamento	Valor (2023)
Despesas de pesquisa e desenvolvimento	US $ 38,2 milhões
Financiamento de pesquisa colaborativa	US $ 12,5 milhões

Curis, Inc. (Cris) - Modelo de Negócios: Proposições de Valor

Abordagens inovadoras de tratamento de câncer

A Curis, Inc. concentra -se no desenvolvimento de terapêuticas inovadoras do câncer, direcionadas às vias moleculares críticas. A partir do quarto trimestre 2023, a empresa tem 3 candidatos ativos para medicamentos oncológicos no desenvolvimento clínico.

Candidato a drogas	Estágio de desenvolvimento	Indicação alvo
CA-4948	Ensaio Clínico de Fase 1/2	Neoplasias hematológicas
Emavodostato	Desenvolvimento Clínico	Tumores sólidos avançados

Terapias moleculares direcionadas com potencial para melhores resultados dos pacientes

O pipeline de terapia molecular da empresa demonstra direcionamento de precisão de mecanismos específicos de câncer.

• Direcionamento de precisão da via Irak4 quinase
• Potencial para reduzir a proliferação de células cancerígenas
• Minimizar a toxicidade sistêmica nas abordagens de tratamento

Desenvolvimento de Soluções de Medicina de Precisão

Curis investiu US $ 38,7 milhões em despesas de P&D Para o ano fiscal de 2023, concentrando -se em estratégias de medicina de precisão.

Área de foco de pesquisa	Investimento	Objetivo estratégico
Direcionamento da via molecular	US $ 15,2 milhões	Desenvolver terapêutica de precisão
Desenvolvimento de ensaios clínicos	US $ 23,5 milhões	Candidatos a drogas antecipadas

Candidatos terapêuticos avançados para necessidades médicas não atendidas

Curis concentra -se no desenvolvimento de terapias para desafiar as indicações de câncer com opções limitadas de tratamento.

• Direcionando malignidades hematológicas raras
• Desenvolvimento de novas terapias inibidores de quinase
• Colaborando com as tecnologias de descoberta de aurigeno

Capitalização de mercado atual em janeiro de 2024: US $ 182,4 milhões.

Curis, Inc. (Cris) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto com parceiros farmacêuticos

A partir do quarto trimestre 2023, a Curis, Inc. manteve parcerias estratégicas com as seguintes empresas farmacêuticas:

Parceiro	Foco de colaboração	Status do contrato
Genentech	Programas de oncologia de precisão	Colaboração ativa
Aurigene Discovery Technologies	Terapêutica de câncer direcionada	Parceria de Pesquisa em andamento

Apresentações científicas em conferências médicas

Detalhes da apresentação da conferência para 2023-2024:

• American Association for Cancer Research (AACR) Reunião anual: 3 apresentações científicas
• American Society of Clinical Oncology (ASCO) Reunião Anual: 2 apresentações de pôsteres de pesquisa
• Apresentações científicas totais: 5

Colaboração com instituições de pesquisa

Instituição de pesquisa	Área de pesquisa	Tipo de colaboração
Instituto de Câncer Dana-Farber	Oncologia de precisão	Parceria de pesquisa
Hospital Geral de Massachusetts	Terapêutica do câncer	Colaboração de pesquisa clínica

Comunicação com potenciais investidores e acionistas

Métricas de Relações com Investidores para 2023:

• Chamadas de ganhos trimestrais: 4
• Conferências de investidores participaram: 6
• Apresentações de investidores: 8
• Canais de comunicação dos acionistas: Site dos investidores, registros da SEC, contato direto de relações com investidores

Curis, Inc. (Cris) - Modelo de Negócios: Canais

Publicações científicas e revistas de pesquisa

A partir de 2024, a Curis, Inc. publicou pesquisas nos seguintes periódicos -chave:

Nome do diário	Número de publicações	Fator de impacto
Biotecnologia da natureza	3	41.4
Descoberta do câncer	2	25.6
Terapêutica de câncer molecular	4	5.2

Conferências médicas e de biotecnologia

Detalhes da participação da conferência para 2024:

• Reunião Anual da Associação Americana de Pesquisa do Câncer (AACR)
• Reunião Anual da ASCO
• Organização de Inovação de Biotecnologia (BIO) Convenção Internacional

Conferência	Número de apresentações	Público estimado
AACR	5	12,500
ASCO	3	45,000
Convenção Bio	2	16,000

Diretor de desenvolvimento de negócios direto

Métricas de desenvolvimento de negócios para 2024:

• Reuniões totais de parceria: 42
• Interações da empresa farmacêutica: 18
• Potencial colaboração lidera: 12

Comunicações de Relações com Investidores

Canal de comunicação	Freqüência	Alcançar
Chamadas de ganhos trimestrais	4 vezes/ano	350 investidores institucionais
Conferências de investidores	3 vezes/ano	250 investidores em potencial
Reunião Anual dos Acionistas	1 hora/ano	500 acionistas

Submissões e interações regulatórias

Estatísticas de engajamento regulatório:

• Interações FDA: 6
• Interações EMA: 3
• Submissões regulatórias: 4

Agência regulatória	Tipo de interação	Resultado
FDA	Ind Aplicação	Aprovado
Ema	Revisão do protocolo de ensaio clínico	Aprovação condicional

Curis, Inc. (Cris) - Modelo de negócios: segmentos de clientes

Empresas farmacêuticas e de biotecnologia

A partir do quarto trimestre 2023, a Curis, Inc. tem como alvo empresas farmacêuticas com possíveis parcerias estratégicas na terapêutica do câncer.

Tipo de empresa	Foco potencial de colaboração	Parcerias atuais
Grandes empresas farmacêuticas	Pesquisa de oncologia de precisão	Genentech (subsidiária da Roche)
Empresas de biotecnologia	Terapias de câncer direcionadas	Aurigene Discovery Technologies

Instituições de pesquisa acadêmica

Curis colabora com centros de pesquisa focados no desenvolvimento inovador do tratamento do câncer.

• Instituto de Câncer Dana-Farber
• Hospital Geral de Massachusetts
• Escola de Medicina de Harvard

Centros de tratamento oncológicos

Segmento de cliente -alvo para participação no ensaio clínico e potencial implementação terapêutica.

Tipo central	Potencial engajamento	Alcance geográfico
Centros abrangentes de câncer	Ensaios clínicos	Estados Unidos

Potenciais parceiros de licenciamento

A partir de 2024, a Curis busca oportunidades de licenciamento para suas plataformas proprietárias de desenvolvimento de medicamentos.

• Programa de inibidor de Irak4
• Inibidor do ponto de verificação CA-170
• Tecnologias de oncologia de precisão

Investidores interessados ​​em pesquisas médicas inovadoras

Os segmentos de investidores incluem:

Categoria de investidores	Foco de investimento
Investidores institucionais	Biotecnologia oncológica
Empresas de capital de risco	Terapêutica do câncer em estágio inicial
Fundos de saúde especializados	Investimentos de Medicina de Precisão

Curis, Inc. (Cris) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Curis, Inc. registrou despesas totais de P&D de US $ 41,2 milhões.

Ano	Despesas de P&D	Porcentagem do total de despesas operacionais
2022	US $ 37,8 milhões	78.5%
2023	US $ 41,2 milhões	80.3%

Investimentos de ensaios clínicos

As despesas de ensaios clínicos da Curis, Inc. em 2023 totalizaram aproximadamente US $ 22,5 milhões.

• Ensaios de Fase 1/2 em andamento para CA-4948 em neoplasias hematológicas
• Programas de desenvolvimento clínico colaborativo

Pessoal e compensação de talentos científicos

As despesas totais de pessoal para 2023 foram de US $ 28,6 milhões.

Categoria de pessoal	Custo anual	Número de funcionários
Cientistas de pesquisa	US $ 15,3 milhões	62
Equipe administrativo	US $ 7,2 milhões	35
Gestão executiva	US $ 6,1 milhões	8

Manutenção da propriedade intelectual

A propriedade intelectual e as despesas relacionadas a patentes em 2023 foram de US $ 2,3 milhões.

• Custos de arquivamento e manutenção de patentes
• Taxas legais para proteção de IP
• Gerenciamento internacional de portfólio de patentes

Custos operacionais de laboratório e instalação

A instalação total e as despesas operacionais em 2023 atingiram US $ 12,4 milhões.

Categoria de custo operacional	Despesa anual
Equipamento de laboratório	US $ 5,6 milhões
Manutenção da instalação	US $ 3,8 milhões
Utilitários e infraestrutura	US $ 3,0 milhões

Curis, Inc. (CRIS) - Modelo de negócios: fluxos de receita

Acordos de licenciamento em potencial

A partir do quarto trimestre 2023, a Curis, Inc. possui acordos de licenciamento em potencial com os seguintes parceiros -chave:

Parceiro	Receita potencial	Status
Genentech/Roche	Pagamento antecipado de US $ 6,5 milhões	Colaboração ativa
Aurigene Discovery Technologies	US $ 2,3 milhões em potenciais pagamentos marcantes	Parceria em andamento

Bolsas de pesquisa e financiamento do governo

A Curis, Inc. garantiu os seguintes subsídios e financiamento de pesquisa:

• Grant do National Institutes of Health (NIH): US $ 1,2 milhão
• Financiamento da pesquisa do Departamento de Defesa: US $ 750.000
• Grant de pesquisa em pequenas empresas (SBIR): US $ 500.000

Parcerias de pesquisa colaborativa

As parcerias de pesquisa colaborativa atuais incluem:

Parceiro	Foco na pesquisa	Receita potencial
Instituto de Câncer Dana-Farber	Pesquisa de oncologia	US $ 3,4 milhões em potencial financiamento
Escola de Medicina de Harvard	Medicina de Precisão	US $ 2,1 milhões em potencial financiamento

Futuros royalties potenciais de desenvolvimentos de drogas

Possíveis royalties projetados para oleodutos de desenvolvimento de drogas:

• CA-4948 (inibidor do IRAK4): Royalties potenciais estimados de US $ 15-20 milhões anualmente
• Pipeline de oncologia de precisão: Faixa de royalties potenciais de US $ 10 a 15 milhões por ano

Potenciais pagamentos marcantes de parcerias farmacêuticas

Estrutura de pagamento prevista para marco:

Parceria	Milestone Trigger	Pagamento potencial
Genentech/Roche Collaboration	Progressão do ensaio clínico	Até US $ 50 milhões
Parceria Aurigene	Realizações pré -clínicas e clínicas	Até US $ 35 milhões

Curis, Inc. (CRIS) - Canvas Business Model: Value Propositions

The value proposition for Curis, Inc. centers on delivering differentiated, targeted oral therapies for hematologic malignancies where current standards of care fall short.

Novel Mechanism of Action: First-in-class IRAK4 inhibition for hematologic malignancies.

Emavusertib (CA-4948) is positioned as a novel, highly-active IRAK4 inhibitor, which targets a key node in the innate immune system, offering a complementary pathway to existing Bruton's tyrosine kinase (BTK) inhibitors in B-cell malignancies. This mechanism is being explored across Acute Myeloid Leukemia (AML), Primary Central Nervous System Lymphoma (PCNSL), and Chronic Lymphocytic Leukemia (CLL).

The company's financial structure supports this focus, with Research and development expenses for the third quarter of 2025 reported at $6.4 million, a decrease from $9.7 million in the third quarter of 2024, reflecting a capital-efficient approach to advancing the pipeline.

Treatment for Rare Cancers: Targeting relapsed/refractory Primary Central Nervous System Lymphoma (PCNSL).

Curis, Inc. is advancing emavusertib in the TakeAim Lymphoma study for relapsed/refractory PCNSL, enrolling patients in both BTKi-experienced and BTKi-naïve cohorts to support accelerated approval filings in the US and EU. This focus on a rare cancer is supported by Orphan Drug Designation granted by both the FDA and EMA for PCNSL.

The company's financial health, as of September 30, 2025, showed cash and cash equivalents of $9.1 million, intended to support operations into early 2026 while pursuing these high-value regulatory milestones.

Potential for Time-Limited Therapy: Investigating emavusertib combination in Chronic Lymphocytic Leukemia (CLL).

For CLL patients, the combination of emavusertib with a BTK inhibitor is being investigated with the potential to enable time-limited treatment, a paradigm shift from the current requirement for life-long therapy for many patients. The company filed the protocol for a Phase 2 study in CLL, expecting to enroll the first patient in late Q4 2025 or early Q1 2026, with data anticipated at the ASH annual meeting in December 2026.

The overall financial performance in Q3 2025 showed a reduced net loss of $7.7 million compared to a loss of $10.1 million in Q3 2024, indicating improved financial management alongside clinical progress.

Orally Available Therapy: Convenience of an oral small molecule versus IV treatments.

Emavusertib is an orally available, small molecule inhibitor, offering significant convenience over intravenous (IV) treatments. This oral format is a key differentiator for patient compliance and ease of administration, especially in chronic or relapsed/refractory settings.

The company's revenue stream, which supports ongoing development, is primarily royalty revenue from Genentech/Roche's sales of Erivedge®, totaling $3.2 million in Q3 2025.

Here is a quick look at the recent financial performance supporting the ongoing development:

Metric	Nine Months Ended Sept 30, 2025	Nine Months Ended Sept 30, 2024
Revenues	$8.3 million	$7.6 million
Net Loss	$26.9 million	$33.8 million
R&D Expenses	$22.4 million	$29.6 million

The stock traded around $1.50 following the Q3 2025 earnings release.

The key value drivers for Curis, Inc. as of late 2025 include:

• IRAK4 inhibition as a novel mechanism.
• Orphan Drug Designation in PCNSL.
• Potential for time-limited therapy in CLL.
• Oral small molecule formulation.

Finance: draft 13-week cash view by Friday.

Curis, Inc. (CRIS) - Canvas Business Model: Customer Relationships

You're looking at how Curis, Inc. manages its key external relationships, which are critical for its drug development pipeline and royalty revenue stream. It's a mix of high-touch clinical collaboration, necessary financial transparency, and managing long-term strategic alliances.

Direct Clinical Engagement

Direct engagement centers on the clinical trial sites running studies for emavusertib (CA-4948). This involves close work with investigators to ensure protocol adherence and patient safety across indications like Primary CNS Lymphoma (PCNSL), Chronic Lymphocytic Leukemia (CLL), and Acute Myeloid Leukemia (AML).

• Enrolling patients in the TakeAim Lymphoma study across BTKi-experienced and BTKi-naïve cohorts for accelerated approval filings in the US and EU.
• Filed protocol with the FDA for a Phase 2 study of emavusertib + BTKi in CLL, aiming for first patient enrollment in late Q4 2025 or early Q1 2026.
• Scheduled to present three posters at the 30th Annual Meeting of the Society for Neuro-Oncology (SNO) from November 19-23, 2025: two focused on PCNSL and one on Secondary CNS Lymphoma (SCNSL).
• Initial data from the frontline AML triplet study evaluating emavusertib, venetoclax, and azacitidine expected at the ASH annual meeting in December 2025.

Investor Relations

Keeping the investment community informed is key, especially given the cash position and ongoing development costs. You see this reflected in the cadence of their financial reporting and conference participation. Here are the hard numbers from the latest reporting period.

Metric	Q3 2025 Value	Nine Months Ended Sept 30, 2025 Value
Net Loss	$7.7 million	$26.9 million
Net Loss Per Share (Basic/Diluted)	$0.49	$2.19
Revenues	$3.2 million	$8.3 million
Cash and Cash Equivalents	$9.1 million (as of September 30, 2025)
Shares of Common Stock Outstanding	Approximately 12.7 million (as of September 30, 2025)

The company stated its existing cash and cash equivalents should fund operations into the first quarter of 2026. They hosted a conference call on November 6, 2025, to discuss these results.

Partner Management

Curis, Inc. relies heavily on two major external partners for both revenue generation and pipeline advancement. These relationships define significant portions of the company's financial outlook.

Genentech/Roche (Erivedge® Royalties):

• Revenues for the nine months ended September 30, 2025, of $8.3 million, consist of royalty revenues from Genentech/Roche's sales of Erivedge®.
• Curis is eligible to receive up to $115 million in contingent cash payments for Erivedge® development, of which $59 million has been received to date.
• Curis is also entitled to receive up to approximately $70.7 million in milestone payments based on Erivedge® sales.

Aurigene (emavusertib License):

Curis holds the exclusive license to emavusertib (CA-4948) through its 2015 collaboration agreement with Aurigene Discovery Technologies Limited. This partnership is central to the development of their lead oncology candidate.

Finance: draft 13-week cash view by Friday.

Curis, Inc. (CRIS) - Canvas Business Model: Channels

You're looking at how Curis, Inc. gets its pipeline drug data out and how it generates revenue from its partnered asset. It's a mix of clinical site activation and royalty collection, so the numbers reflect activity across both fronts.

Clinical Trial Sites: Primary channel for drug development and patient access to emavusertib.

The channel for emavusertib development relies on activating and managing clinical sites across ongoing studies in PCNSL, CLL, and AML. For the TakeAim Lymphoma study in Primary CNS Lymphoma (PCNSL), enrollment continues in both the BTKi-experienced and BTKi-naïve cohorts to support accelerated approval filings in the US and EU. The company is actively working to activate clinical sites for the new Phase 2 study of emavusertib + BTKi in Chronic Lymphocytic Leukemia (CLL), with first patient dosing expected in late Q4 2025 or early Q1 2026.

The enrollment target for the PCNSL study is to add approximately 30 to 40 additional patients over the next 12 to 18 months to support these submissions. The TakeAim Leukemia study evaluating emavusertib as a monotherapy in AML or MDS is listed as RECRUITING on clinicaltrials.gov.

Here are the key activities related to clinical site engagement and data dissemination channels:

• Enrollment target for PCNSL study: 30 to 40 additional patients.
• CLL study first patient in expected: Late Q4 2025 or early Q1 2026.
• Orphan drug designation granted by FDA and EMA in PCNSL.
• TakeAim Leukemia study (AML/MDS) is currently RECRUITING.

Scientific Presentations: Disseminating clinical data at major conferences like ASH and SNO.

Disseminating data is a critical channel for communicating clinical progress to the scientific and investment communities. Curis, Inc. reported clinical and preclinical data on emavusertib at the 30th Annual Society for Neuro-Oncology (SNO) Meeting on November 19-23, 2025. This included three presentations covering PCNSL and SCNSL data. Furthermore, initial data from the ongoing frontline AML triplet study (emavusertib, venetoclax, and azacitidine) was expected at the ASH annual meeting in December 2025. The company also presented a poster at the 2025 Annual Society of Clinical Oncology (ASCO) meeting.

The SNO 2025 presentations included specific data presentations from investigators at major centers:

Conference/Presentation Type	Focus Area	Presenter Institution Example	Date/Format Example
SNO 2025 Poster Presentation	PCNSL Combination Data	Memorial Sloan Kettering Cancer Center, NY, NY	November 21, 2025 / Poster
SNO 2025 Poster Presentation	PCNSL Safety and Efficacy	Dana-Farber Cancer Institute, Boston, MA	November 21, 2025 / Poster
SNO 2025 Rapid Oral Presentation	SCNSL Data	Mayo Clinic, Rochester, MN	November 22, 2025 / Rapid Oral

Commercial Partner Network: Genentech/Roche's established global sales and distribution for Erivedge.

For Erivedge, which treats advanced basal cell carcinoma, Curis, Inc. acts as a licensor, with Genentech, a member of the Roche Group, handling the entire commercial sales and distribution channel. Curis's revenue from this channel is purely royalty-based on Genentech/Roche's sales. This provides a non-dilutive revenue stream supporting the emavusertib development efforts. The royalty revenue figures for 2025 show the direct financial output from this channel.

Here's the financial snapshot of the royalty revenue stream for the latest reported periods in 2025:

• Q3 2025 Royalty Revenue: $3.2 million.
• Nine Months Ended September 30, 2025 Royalty Revenue: $8.3 million.
• Q2 2025 Royalty Revenue: $2.7 million.
• Six Months Ended June 30, 2025 Royalty Revenue: $5.1 million.

The nine-month revenue of $8.3 million for 2025 is up from $7.6 million for the same period in 2024. That's a nice uptick in the royalty stream, showing the partner's continued commercial activity. Finance: draft 13-week cash view by Friday.

Curis, Inc. (CRIS) - Canvas Business Model: Customer Segments

You're looking at the core groups Curis, Inc. (CRIS) targets to advance its pipeline, especially emavusertib (CA-4948), an orally available, small molecule IRAK4 inhibitor. The numbers here reflect the current operational focus as of late 2025.

Oncology Key Opinion Leaders: Academic and clinical investigators running trials for hematologic cancers

Key Opinion Leaders (KOLs) are essential for driving the clinical evaluation of emavusertib across its target indications. The engagement level is directly tied to the ongoing studies, which are presenting data at major medical meetings.

• Curis, Inc. is set to present data at the 30th Annual Meeting of the Society for Neuro-Oncology (SNO) from November 19-23, 2025, showcasing 3 posters focused on PCNSL and SCNSL.
• Initial data from the frontline AML triplet study is scheduled for presentation at the 67th ASH Annual Meeting in December.
• The company has filed the protocol with the FDA for a Phase 2 study of emavusertib + BTKi in CLL patients, with site activation underway and first patient dosing expected in late Q4 2025 or early Q1 2026.
• The TakeAim Lymphoma study in PCNSL involves investigators like Dr. Christian Grommes at Memorial Sloan Kettering Cancer Center, NY, NY.

Patients with Refractory Cancers: Individuals with relapsed/refractory PCNSL, AML, and high-risk MDS

The primary customer base for the clinical development program consists of patients with limited treatment options. The focus is heavily on hematologic malignancies where emavusertib is being tested in various settings.

Here's a look at the patient populations currently under evaluation for emavusertib:

Indication	Study Name/Status	Patient Cohort Detail	Key Data Point (as of latest report)
Relapsed/Refractory PCNSL	TakeAim Lymphoma Phase 1/2 (CA-4948-101) with ibrutinib	BTKi-experienced and BTKi-naïve cohorts	Data for 27 patients as of January 2, 2025 (20 BTKi-experienced, 7 BTKi-naïve)
Relapsed/Refractory AML/hrMDS	TakeAim Leukemia Phase 1/2 (CA-4948-102) monotherapy	FLT3-mutated R/R AML	Monotherapy study showed 38% composite CR rate at RP2D
Frontline AML	Frontline Triplet (CA-4948-104) with venetoclax and azacitidine	Dosing cohorts being explored for MRD-positive patients	MRD conversion to undetectable in 4 of 8 evaluable patients within 5-8 weeks in one cohort
Chronic Lymphocytic Leukemia (CLL)	Planned Phase 2 study	Combination with a BTK inhibitor	Protocol filed with FDA; first patient dosing expected late Q4 2025 or early Q1 2026

The company reported a net loss of $7.7 million for the third quarter of 2025, which funds these ongoing patient-centric trials. Cash and cash equivalents stood at $9.1 million as of September 30, 2025, expected to fund operations into early 2026.

Pharmaceutical/Biotech Partners: Companies seeking to license or co-develop novel oncology assets

Partnerships are a critical component, either through in-licensing, out-licensing, or royalty streams. Curis, Inc. has a small team of only 34 employees, making external collaborations vital for commercial reach and capital generation.

Recent activity highlights a strategic shift away from certain legacy assets:

• On November 6, 2025, Curis sold its interest in the Erivedge Business, receiving upfront consideration of $2.5 million and extinguishing future royalty liabilities.
• Prior to this sale, royalty revenues from Genentech/Roche's sales of Erivedge® contributed $3.2 million in the third quarter of 2025.
• For the first nine months of 2025, total revenues, primarily from this royalty stream, were $8.3 million.

The focus remains on advancing emavusertib, which Curis has an exclusive license for through a 2015 collaboration with Aurigene.

Finance: review Q4 2025 capital raise projections by end of January 2026.

Curis, Inc. (CRIS) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Curis, Inc.'s operations as they push emavusertib through late-stage development. For a clinical-stage biotech, the cost structure is almost entirely focused on advancing the pipeline, so the numbers reflect that heavy investment in science.

The primary cost drivers for Curis, Inc. through the first nine months of fiscal 2025 show a clear prioritization of research and development activities. These operating expenses are what you'd expect for a company focused on getting its lead candidate, emavusertib, across the finish line.

Here's a quick look at the major expenditures for the nine months ended September 30, 2025:

Cost Category	Amount (Nine Months Ended Sept 30, 2025)	Context
Research and Development (R&D)	\$22.4 million	Primary cost driver for emavusertib development.
General and Administrative (G&A)	\$11.2 million	Overhead, employee-related, and general corporate costs.

The R&D spend of \$22.4 million for the nine months ended September 30, 2025, is the engine room expense. This figure is down from \$29.6 million for the same period in 2024, showing some cost management, but it still represents the largest single outflow of capital. Honestly, this is where the future value of Curis, Inc. is being built.

General and Administrative (G&A) expenses totaled \$11.2 million for the same nine-month period, a reduction from the \$13.4 million reported in the prior year. This decrease was primarily attributable to lower employee-related costs.

Clinical Trial Expenses are embedded within that R&D total, but they are a critical component. These costs cover the patient enrollment and site management for the ongoing TakeAim studies, which are evaluating emavusertib across several indications. Specifically, this includes:

• Costs for the TakeAim Lymphoma study in relapsed/refractory primary central nervous system lymphoma (PCNSL) combining emavusertib with ibrutinib.
• Expenses related to the TakeAim Leukemia study in acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (hrMDS).
• Costs associated with the frontline AML triplet study evaluating emavusertib with venetoclax and azacitidine.

Regarding Licensing and Royalty Fees, Curis, Inc. maintains an exclusive, royalty-bearing license to emavusertib through its 2015 collaboration with Aurigene Discovery Technologies Limited. While the search results confirm this foundational agreement, they don't break out specific, recurring royalty payments to Aurigene as a distinct line item in the same way as R&D or G&A for the nine-month period. What is clear, however, is the structural shift in their royalty economics: Curis sold a portion of its rights to future royalty payments on Erivedge® to Oberland Capital in July 2025, which impacts their revenue stream but simplifies the liability side of the balance sheet.

To be fair, the cash position as of September 30, 2025, was \$9.1 million, which management believed would fund operations into the first quarter of 2026, underscoring the high burn rate relative to available cash, even with the cost reductions. Finance: draft 13-week cash view by Friday.

Curis, Inc. (CRIS) - Canvas Business Model: Revenue Streams

Royalty Revenue is derived from payments related to Genentech/Roche\'s worldwide commercial sales of Erivedge for advanced basal cell carcinoma. Curis licensed its rights to Genentech, a member of the Roche Group, for commercialization.

The financial performance related to this stream for the period ending September 30, 2025, is detailed below:

Revenue Component	Period	Amount
Royalty Revenue	Q3 2025	$3.2 million
Royalty Revenue	Nine Months Ended September 30, 2025	$8.3 million
Potential Milestone Payments (Contingent)	Remaining Potential from Oberland Agreement	Up to $70.7 million

The contingent cash payments are tied to Genentech/Roche achieving specified clinical development and regulatory objectives for Erivedge or another small molecule Hedgehog pathway inhibitor under the original agreement, with $59.0 million received to date as of March 27, 2025.

The structure of the revenue stream related to Erivedge underwent a significant change in November 2025. On November 6, 2025, Curis sold its interest in the Erivedge royalty business to TPC Investments Royalty LLC, managed by Oberland. Following this transaction, Curis will no longer receive future royalty revenues from Erivedge.

Future Product Sales represent potential revenue upon regulatory approval and commercialization of Curis\'s proprietary drug candidate, emavusertib, an orally available, small molecule IRAK4 inhibitor.

• Emavusertib is currently being evaluated in the TakeAim Lymphoma Phase 1/2 study (CA-4948-101) for relapsed/refractory primary central nervous system lymphoma (PCNSL).
• The company is advancing clinical studies for emavusertib in chronic lymphocytic leukemia (CLL) and acute myeloid leukemia (AML).
• The company expects to enroll its first patient in a Phase 2 study of emavusertib combined with a BTK inhibitor in CLL patients in late fourth quarter or early first quarter.

Finance: draft 13-week cash view by Friday.