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Curis

CRIS on Nasdaq. Market value $2m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 37 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

7 investors own more than 5%.

  • at least 10.0%0.0 pts
    (filed with 2 related holders)
    Since 31 March 2026
  • Thomas A. Satterfield, Jr.
    Passive investor
    9.9%0.0 pts
    Since 31 March 2026
  • at least 9.9%
    (filed with 3 related holders)
    Since 17 March 2026
  • Bleichroeder LP
    Passive investor
    at least 9.9%
    (filed with 2 related holders)
    Since 31 March 2025
  • NANTAHALA CAPITAL PARTNERS LIMITED PARTNERSHIP
    Passive investor
    7.0%
    Since 31 March 2026
  • Armistice Capital, LLC
    Passive investor
    at least 5.0%−5.0 pts
    (filed with 1 related holder)
    Since 31 March 2026
  • at least 4.8%−1.1 pts
    (filed with 1 related holder)
    Since 23 January 2026
  • Maverick Capital, Ltd.
    Passive investor
    Sold down below 5%
    Since 30 September 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $5,500 of shares on the open market.

  • KAITIN KENNETH I
    Director
    Bought
    Date
    31 March 2026
    Shares
    10,000
    Price
    $0.55
    Value
    $5,500

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Curis’ filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 24 Mar 2026, plus the 10-Q filed 14 Aug 2026 and 7 later 8-Ks.

  • Doubt it can keep going

    Serious

    The company or its auditor warned it may not have enough money to last the next year.

    “In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has concluded there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the Condensed Consolidated Financial Statements are issued.”
    Show the full paragraph
    In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has concluded there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the Condensed Consolidated Financial Statements are issued. In August 2026, the Company completed a public offering (the “August 2026 Public Offering”) for estimated net proceeds of approximately $ 4.8 million, after deducting placement agent fees and estimated offering expenses. Based on the Company's $ 5.1 million of existing cash and cash equivalents at June 30, 2026, together with the proceeds from the August 2026 Public Offering, recurring losses and cash outflows from operations since inception, an expectation of continuing losses and cash outflows from operations for the foreseeable future and the need to raise substantial additional capital to finance the Company's future operations, the Company concluded it does not have sufficient cash on hand to fund current operations for a period of 12 months from the date of filing this Quarterly Report on Form 10-Q. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern.

    From the 10-Q filed 14 August 2026, Part I, Item 1. Financial Statements. Read it in the filing

  • One big customer

    Worth knowing

    One customer brings in a big share of sales: 100% last year. Losing that customer would hurt.

    “The Company's former customer, Genentech, accounted for 100 % of the total gross revenues for the years ended December 31, 2025 and 2024.”

    From the 10-K filed 24 March 2026, Item 8. Financial Statements and Notes. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.