its too bad to see but it diddn't pan out


CAMBRIDGE, MA – Curis, Inc. (NASDAQ:CRIS), a drug development company focused on seeking to develop novel targeted medicines primarily for cancer treatment, has just reported its financial results for the second quarter ended June 30, 2007.

For the second quarter of 2007, Curis reported a net loss of $3,998,000 or ($0.08) per share, as compared to a net loss of $3,924,000 or ($0.08) per share for the same period in the prior year.

The most important news for hair loss sufferers is the following statement contained in their report:

“We currently do not expect to further develop our current Hedgehog agonist compounds for hair growth regulation.”

In May 2007, Procter & Gamble notified Curis of their decision to terminate their September 2005 collaboration agreement for topically applied Hedgehog agonist compounds for hair growth regulation, effective November 9, 2007.

Also in May 2007, Ortho Biotech Products notified Curis of their decision to cease its development efforts on the BMP-7 program and terminate their November 2002 license agreement.

Curis is still pursuing the use of their Hedgehog antagonist for use in cancer treatments however.

“While we are disappointed that two of our collaborations concluded during the second quarter of 2007, we continue to make progress on our core small molecule cancer assets. We are pleased with the progress of our Hedgehog antagonist collaboration, the lead molecule of which is currently in Phase I clinical testing. We have also made significant progress on our targeted cancer programs that we are developing under our Targeted Cancer Drug Development Platform,” said Daniel Passeri, Curis’ President and Chief Executive Officer.