Wednesday, Curis Inc. (CRIS) reported a narrower loss for the second quarter ended June 2008, compared with last year. Net revenue saw a substantial rise in the quarter by about 158%, primarily due to an increase in license fee revenues. The US-based drug manufacturing company's net loss for the quarter was $2 million or $0.03 per share compared with last year's loss of $4 million or $0.08 per share.
Revenues rose significantly by 158% to $3.10 million in the quarter from $1.22 million in the same period prior year. .
Research and development expenses for the quarter was higher at $3.20 million, compared with $3.04 million in the last year.
For the first-half, Curis recorded a net loss of $5.39 million or $0.09 per share compared with the loss of $7.53 million or $0.15 per share in the same period last year. Revenues were $5.17 million for the period compared with $3.59 million in the prior year.
The company stock is currently trading down by 3.59% at $1.61 on the Nasdaq.
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