Insiders Buying Shares of Curis
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 23, 2002--Curis, Inc. (NASDAQ: CRIS - News) today announced purchases of Curis common stock by executive officers, directors and significant current investors. "Together, we are showing our personal conviction, commitment and strong optimism about Curis' new business model," said Daniel R. Passeri, President and Chief Executive Officer. "These purchases demonstrate our personal belief that the recent realignment of Curis' business model will translate into increased shareholder value. By buying stock we are taking personal action on our commitment."
Realignment for Accelerated Product Development
On February 14, 2002, Curis announced a comprehensive realignment of its research and development programs to focus its strengths and resources on its proprietary signaling pathways and stem cell technologies, including the Bone Morphogenic Protein (BMP) and the Hedgehog (Hh) families of products. By streamlining its organization and operations, Curis intends to accelerate product development of its most promising assets thereby enhancing shareholder value.
In a press release Thursday, Curis said the stock purchases demonstrate the investors' belief that "the recent realignment of Curis' business model will translate into increased shareholder value."
In February, Curis unveiled a plan to realign its research and development programs to focus on its proprietary signaling pathways and stem cell technologies.
Shares of Curis, which currently has about 32.2 million shares outstanding, closed Wednesday at $1.06, well below a 52-week high of $7 from August 2001 . The shares hit a 52-week low of $1 in Wednesday's trading.
-Thomas Gryta; Dow Jones Newswires; 201-938-5400 |
