UPDATE: Wedbush Initiates Coverage on Curis on Potential of New Oral Therapies

In a report published Friday, Wedbush analyst Christopher N. Marai initiated coverage on

with an Outperform rating and $6.00 price target. In the report, Wedbush noted, “Curis is a drug company developing oral therapies for oncology based on knowledge of cell signaling pathways. CRIS is developing CUDC-427, an antagonist of inhibitor of apoptosis proteins, key regulators of cancer cell death that may overcome chemotherapy resistance. It is also developing CUDC-907, a dual HDAC/PI3K inhibitor with differentiated PK/PD properties for DLBCL and MM. CRIS receives royalties from its partner Roche on sales of Erivedge, an approved hedgehog pathway inhibitor for advanced basal cell carcinoma.” Curis closed on Thursday at $3.38.