Curis, a drug development company, has reported a net loss of $3.38m, or $0.04 per share, for the third quarter ended 30 September 2012 compared to a net loss of $4.21m, or $0.05 per share, for the third quarter ended 30 September 2011.
Revenues for third quarter of 2012 were $577,759 compared to $147,122 for the third quarter of 2011.
The company reported a net loss of $4.04m, or $0.05 per share, for the nine months ended 30 September 2012 compared to a net loss of $15.92m, or $0.21 per share, for the nine months ended 30 September 2011.
Revenues of $15.28m were reported for the first nine months of 2012 compared to $673,527 for the first nine months of 2011.
Curis president and chief executive officer Dan Passeri said the company showed a progress in its proprietary and licensed programs such as commencement of a Phase I clinical trial of CUDC-101, IND filing to advance PI3K and HDAC inhibitor CUDC-907 into Phase I clinical testing and Debiopharm's initiation of a Phase I/II trial of Hsp90 inhibitor Debio 0932.
"We continue to be encouraged with the U.S. commercial launch of Erivedge in advanced basal cell carcinoma, with average weekly demand increasing significantly from the second to third quarter and Roche recently noting an increasing awareness of Erivedge's availability," Passeri added.