Curis, Inc. (NASDAQ:CRIS) stock is pulling back after yesterday’s big jump. The stock is under pressure this morning after reported worse than estimated loss in the first quarter.
The company reported a loss of 11 cents a share, missed analysts’ estimates by 2 cents. Moreover, revenue during the quarter came in at $2.20 million, below analysts’ projection of $2.80 million.
As of March 31, 2021, Curis’s cash, cash equivalents and investments totaled $168.4 million, and there were approximately 91.5 million shares of common stock outstanding. Curis expects that its existing cash, cash equivalents and investments should enable it to maintain its planned operations into 2024.
CRIS stock is down 18.45% at $13.27 in the early session. The stock was up over 65% yesterday after the company reported updated data in two abstracts for CA-4948 accepted for presentation at the EHA 2021 Virtual Congress.
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