UPDATE: Stifel Nicolaus Initiates Curis at Hold on Erivedge Sales Outlook

Stifel Nicolaus initiated coverage on Curis

with a Hold rating. Stifel Nicolaus commented, "We forecast a steady, but somewhat lackluster launch trajectory for Erivedge, given the underwhelming adoption so far; CRIS' low royalty rate on Erivedge limits upside on blockbuster success, in our opinion. We note Erivedge achieved $18.9 million in U.S. sales since launch in February, which we view as promising but note at the current run rate, sales are not likely to exceed $1 billion." Curis closed at $3.29 on Tuesday.