Curis, Inc. (CRIS) saw its loss widen to $15.74 million, or $0.11 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $9.44 million, or $0.07 a share.
Revenue during the quarter grew 23.46 percent to $2.13 million from $1.73 million in the previous year period.
Operating loss for the quarter was $15.05 million, compared with an operating loss of $8.81 million in the previous year period.
"Jim was an integral part of Curis's founding and has continued to guide the company throughout. On behalf of management and employees of the Company, I would like to thank Jim for his many years of service" said Ali Fattaey, president and chief executive officer.
Debt increases substantially
Curis, Inc. has witnessed an increase in total debt over the last one year. It stood at $44.81 million as on Mar. 31, 2017, up 95.63 percent or $21.90 million from $22.90 million on Mar. 31, 2016. Total debt was 60.75 percent of total assets as on Mar. 31, 2017, compared with 26.85 percent on Mar. 31, 2016. Debt to equity ratio was at 2.09 as on Mar. 31, 2017, up from 0.41 as on Mar. 31, 2016.
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