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Why Curis (CRIS) Shares Are Surging Today?

Why Curis CRIS Shares Are Surging Today?
  • Curis Inc (NASDAQ: CRIS) shares are surging in reaction to updated data from its ongoing open-label, single-arm, Phase 1/2 study of CA-4948 in patients with acute myeloid leukemia (AML) or high-risk myelodysplastic syndromes (MDS).
  • As of data cut off on February 8, in 15 patients (8 MDS and 7 AML), four objective responses were recorded with signs of hematologic recovery, including:
    • One complete response (CR), one complete remission with incomplete hematologic recovery (CRi) with negative minimal residual disease, and two bone marrow CRs.
    • All three patients with SF3B1 or U2AF1 spliceosome mutation achieved marrow CR or better.
  • The company said that two abstracts with updated data would be presented at the upcoming European Hematology Association 2021 Virtual Congress to be held next month.
  • CA-4948 is an IRAK4 kinase inhibitor, and IRAK4 plays an essential role in the toll-like receptor and interleukin-1 receptor signaling pathways, which are frequently dysregulated in patients with AML and MDS.
  • Cantor Fitzgerald analyst Alethia Young views Curis's abstract update as highly encouraging with more patients and longer follow-up, the analyst tells investors in a research note.
  • The analyst made no changes to the firm's Overweight ratings and thinks the initial look from the abstracts appears very positive.
  • Last month, CA-4948 received FDA's Orphan Drug designation in AML and MDS.
  • Price Action: CRIS shares rose 60.8% at $15.79 during the market session on the last check Wednesday.

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