CRIS 8-K SEC Filing Analysis

Latest settled — T+5d

CRIS ▼ -4.00% at T+5d

SHORT call ✓ call won +4.00% · α vs SPY +2.84% · entry $0.5000 → $0.4800

Next anchor: T+20d due 5d ago

Last close $0.4200 (close Jun 12) · +16.00% from $0.5000 entry (call sign-flipped)

Entry anchored
May 12, 03:59 PM ET
via Databento tick

T+1d

0.00%

call 0.00% · α -0.00%

$0.5000

settled 5w ago

T+5d

-4.00%

call +4.00% · α +2.84%

$0.4800

settled 27d ago

T+20d

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call — · α —

—

due 5d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

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Executive Summary

Curis reported Q1 2026 results with zero revenue (post-Erivedge sale) and a net loss of $24.2M, significantly worse than the prior year's $10.6M loss. The company's cash runway extends into H2 2027 only if Series B warrants are exercised, and the stock has a $22M market cap with a history of poor post-earnings performance.

Actionable Insight

The company has no revenue stream and is burning ~$11.5M/quarter in operating expenses. With only $15M cash and a $22M market cap, dilution risk is extreme. Monitor for the Series B warrant trigger (5th CLL patient dosing) as a potential near-term catalyst, but the fundamental trajectory is deteriorating.

Key Facts

Zero revenue in Q1 2026 vs $2.4M in Q1 2025 due to sale of Erivedge royalties
Net loss of $24.2M ($1.25/share) vs $10.6M ($1.25/share) in Q1 2025
Cash and cash equivalents of $15.0M as of March 31, 2026
Operating cash burn of $11.5M in Q1 2026 vs $10.2M in Q1 2025
Warrant liability of $1.9M from January 2026 PIPE financing
Shares outstanding increased to ~40M from ~12.9M at year-end 2025
Cash runway guidance extends into H2 2027 only with Series B warrant exercise
Prior earnings report (Q4 2025) showed net income of $19.4M from a one-time gain on asset sale

Financial Impact

Revenue collapsed to zero; net loss more than doubled to $24.2M; cash burn rate increased

revenuenet_losscash_burndilution

Risk Factors

Zero revenue going forward after Erivedge royalty sale
Cash runway only extends to H2 2027 with warrant exercise; without it, runway is much shorter
Massive dilution: shares outstanding tripled to ~40M from ~12.9M
No approved products; clinical-stage pipeline with binary outcomes
Nasdaq listing compliance risk given low market cap and cash position

Market Snapshot

Exchange

Nasdaq

Sector

Biological Products, (No Diagnostic Substances)

Analyst Consensus

90% bullish (10 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001108205-26-000059
Document: cris-20260512.htm	0001108205-26-000059
Document: 0001108205-26-000059-index-headers.html	0001108205-26-000059
Document: 0001108205-26-000059-index.html	0001108205-26-000059
Document: 0001108205-26-000059.txt	0001108205-26-000059
8-K Data (Synthetic)	0001108205-26-000059

4 reports for CRIS

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for CRIS — sortable, filterable
	Type				Now
May 22, 2026 23d ago	8-K BEARISH ★ 6/10	$0.4900 $0.5000	▼ −2.04%	▼ −0.83%	$0.4200 (+14.29%)
May 12, 2026 4w ago	8-K BEARISH ★ 7/10	$0.5000 $0.4800	▲ +4.00%	▲ +2.84%	$0.4200 (+16.00%)
May 1, 2026 6w ago	8-K BEARISH ★ 8/10	$0.5800 $0.5500	▲ +5.17%	▲ +8.11%	$0.4200 (+27.59%)
Mar 23, 2026 12w ago	EFFECT NEUTRAL ★ 4/10	$0.7400 $0.5100	▼ −31.08%	▼ −27.52%	$0.4200 (−43.24%)

US Market Status

Market Closed — Opens in 4h 45m

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