CRIS - Curis, Inc. - Q2 2013 Earnings Call Transcript

    Company Name:Curis, Inc.
    Event Title:Q2 2013 Earnings Call Transcript
    Event Date:05-Aug-2013
    Event Time:09:00 AM ET



    Good morning, ladies and gentlemen and welcome to the Second Quarter 2013 Curis Earnings Conference Call. At this time, all participants are in a listen-only mode. We will facilitate a question-and-answer session towards the end of today's conference call. As a reminder, this conference call is being recorded for replay purposes. I'll now turn the call over to Mani Mohindru, Vice President of Investor Relations and Corporate Strategy. Ma'am, you may begin.

    Mani Mohindru, Ph.D.

    Vice President of Corporate Strategy and Investor Relations
    Thank you, Shayne. Good morning and thank you for joining us. During today's call, we'll provide you with an update on corporate plans and developments and also discuss our second quarter 2013 financial results. I also want to refer you the updated corporate overview presentation on our website that represents much of what we will discuss today.

    Before we begin, I would like to advice you that this conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including without limitations statements relating to our plans and expectations for advancing CUDC-907 and CUDC-427 in the clinic and the potential therapeutic benefits of these development candidates, our and our collaborator Genentech 's expectations concerning the commercialization and market opportunity for Erivedge in various territories, the timings and outcomes of the ongoing regulatory reviews for Erivedge and the timing and potential outcome of ongoing clinical studies of Erivedge , our and our collaborator Debiopharm 's expectations regarding the advancement of Debio 0932 and presently ongoing clinical trials as well as the traditional clinical trials in the future.

    Actual results may differ materially from those indicated by forward-looking statements in this conference call, as a result of various important factors, including those risk factors described in our quarterly report on Form 10-Q for the quarter ended March 31, 2013 and in other filings that we periodically make with the SEC and we encourage you to review these risk factors carefully.

    We caution you that we're making these forward-looking statements only as of today and that we may not update any of these statements even if events and developments subsequent to the date of this call cause these estimates and expectations to change.

    I'd now like to introduce Dan Passeri, Curis' Chief Executive Officer, who will provide a brief introduction remarks.

    Following these remarks, Dan and Ali Fattaey, our President and Chief Operating Officer will provide an update on our programs and pipeline. Following Dan and Ali's remarks, Mike Gray, our Chief Financial Officer will review our financial results for the second quarter of 2013 and we will then open the call for Q&A. During the Q&A period as a curtsey to those individual seeking to ask questions, we ask that participants limit themselves to one or two questions.


    Daniel R. Passeri

    Chief Executive Officer
    Thanks, Mani. Good morning everyone and thank you for joining us today.

    During the second quarter, we've made significant progress as we've continued to focus on advancing our proprietary targeted cancer drug candidates including the launch of our development campaign for clinical studies with our IAP antagonist, designated CUDC-427 and continued to progress with our ongoing trial of our dual PI3-kinase and HDAC inhibitor designated CUDC-907 currently being evaluated in a dose-escalation study and patients with multiple myeloma and lymphomas.

    We remain on track to initiate several other trials in the coming months both with CUDC-427 as well as CUDC-907 . Ali will provide additional details and plans regarding upcoming trials. The second quarter was also important for the continued commercialization of Erivedge by our collaborator Genentech /Roche . Importantly, Genentech / Roche secured marketing approvals in the key territories worldwide, including the European Union, Australia , Canada and Switzerland among others.

    Within the United States, Genentech continues to accomplish steady sales growth each quarter including approximately 22% sequential growth in Q2 net sales versus the first quarter of 2013. We are very pleased with the progress being made by our partner Debiopharm as well with our HSP90 inhibitor designated Debio 0932 and anticipate the Debiopharm will advanced this drug Canada and into the Phase 2 portion of the non-small cell lung cancer study and we also expect to see a new trial initiation in renal cancer in the coming months.

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