Why Curis Stock Crashed on Thursday
What a difference a day makes. Following a serious pop for its stock on Wednesday, given very encouraging news about one of its pipeline drugs, Curis (NASDAQ: CRIS) saw its shares dive by almost 20% the following day. The culprit? The cancer drug developer's latest set of quarterly results.
Curis released its first-quarter figures after market close on that otherwise glorious Wednesday. During the quarter, the company took in just under $2.19 million in revenue, which consisted almost entirely of royalties. That was down from the year-ago quarter's $2.71 million, and missed the average analyst estimate of $2.75 million, according to data compiled by Yahoo! Finance.
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