Company

Bank

Analyst

Coverage

Opinion

Wk chg

11/8 cls

Curis Inc. (NASDAQ:CRIS)

BMO Capital Markets

Jim Birchenough

Downgrade

Market perform (from outperform)

-30%

$2.75

Birchenough also lowered his target to $3 from $8 after FDA placed a partial clinical hold on a Phase I trial with CUDC-427 to treat solid tumors or lymphoma. The decision followed a patient's death from liver failure a month after discontinuing treatment with the small molecule inhibitor of apoptosis (IAP) proteins (see B29). Birchenough said uncertainty behind the safety of IAP inhibitors and the "glacial pace" of the rest of Curis' pipeline development "will leave the shares depressed for the foreseeable future." Curis has rights to CUDC-427 from the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY).