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Stock Alert: Curis Hits New 52-week High

Shares of Curis, Inc. (CRIS) are surging more than 133 percent or $1.63 in Wednesday's morning trade at $2.85, after earlier touching a new 52-week high of $3.20.

Wednesday, Curis said that the U.S. Food and Drug Administration or FDA cleared its Investigational New Drug or IND application for CI-8993, the first-in-class monoclonal anti-VISTA antibody. Curis plans to initiate a Phase 1a/1b study of CI-8993 in the second half of 2020.

Curis noted that certain cancers, such as mesothelioma, triple negative breast cancer, non-small cell lung cancer, and gynecologic malignancies, are known to be highly driven by VISTA. These cancers may be amenable to monotherapy treatment with anti-VISTA therapy.

The stock has traded in a range of $0.62 to $3.20 in the past 52 weeks.

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