Curis Inc 2Q Loss 61c/Shr
Dow Jones Newswires
Curis Inc. - Cambridge, Mass.
2nd Quar June 30:
2001 2000
Revenue $202,638 $7,471
Net income a (19,277,008) (2,514,016)
Avg shrs 31,560,390 11,471,672
Shr earns
Net income a (.61) (.22)
6 Months:
Revenue $451,803 $677,858
Net income (37,084,237) (8,355,564)
Avg shrs 31,497,604 11,369,372
Shr earns
Net income (1.18) (.73)
Figures in parentheses are losses.
a. Includes non-cash amortization of intangible assets and stock based compensation of $9.5 million. Excluding items, the company lost $9.8 million, or 31 cents a share.
Curis Inc. (CRIS) reaffirmed its projection for a 2001 loss, excluding non-cash items, of less than $40 million.
Second quarter loss, excluding items, was in line with Curis' estimate of about $10 million.
Curis' cash and investments as of June 30 were $59 million, which included restricted securities of $1 million.
If the upfront cash payments from Micromet and Elan received in early July are considered, Curis' cash and investments are more than $70 million, the company said.
"In addition, the Elan transaction also provides us with a line-of-credit to cover Curis' contributions to the Elan joint venture. With these combined resources, Curis has sufficient capital to continue operations into the second quarter of 2003," the company said.
Curis, which develops products based on technologies in the field of regenerative medicine, posted cash and cash investments of $59 million at June 30.
Company Web site: curis.com |
