Curis (CRIS) Stock Falls 18% in Early Trade: A Good Buy Now?

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.

Curis (CRIS) Stock Falls 18% in Early Trade: A Good Buy Now?

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.

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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.

 

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.