(GuruFocus, August 11, 2009) Investment Gurus Jean-Marie Eveillard retired earlier this year and became a consultant with the First Eagle Fund, which he ran for nearly 30 years. The fund has recent added 21.23% to its position in the therapeutic drug company Curis Inc. GuruFocus Data shows the transaction happened on August 4, 2009, at the price of $1.46 per share. Jean-Marie Eveillard owns 7,900,782 shares as of 03/31/2009, an increase of 16.76% from the previous quarter. After the purchase, First Eagle Fund owns 12,427,220 shares, or 19.52% of the shares outstanding.

Curis Inc. is a therapeutic drug development company focusing on cancer neurological and dermatological disease indications with technologies that utilize regulatory pathways that control repair and regeneration. Curis' product development involves the use of small molecules or proteins to modulate these pathways. The company has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of cancer neurological disorders, hair growth,kidney and other diseases as well as cardiovascular disease. Curis Inc. has a market cap of $94.2 million; its shares were traded at around $1.48 with and P/S ratio of 11.3.

First Eagle Fund owned shares in CRIS since 2Q06 with a small position of about 1 million shares. It has increased its stake over the past three years, and now it controls almost 20% of the biotech company. The following table details the recent purchases.

Ticker	Date	Price Range(Average)	Current Price	Change from Average	Action	Current Shares
CRIS	2009-08-04	$1.46	$ 1.48	1%	Add 21.23%	12,427,225
CRIS	2009-04-30	$1.17	$ 1.48	26%	Add 51.48%	10,250,782
CRIS	2008-12-31	$0.7 - $0.93 ($0.8)	$ 1.48	85%	Add 45.2%	6,766,877
CRIS	2008-11-30	$0.72	$ 1.48	106%	Add 37.62%	6,413,845
CRIS	2008-09-30	$1.35 - $1.85 ($1.6)	$ 1.48	-8%	Add 38.77%	4,660,517
CRIS	2008-06-30	$1.17 - $1.53 ($1.4)	$ 1.48	6%	Add 118.39%	3,358,513

CRIS is a bio-tech company. It does not have any material revenue yet and it is burning more than $3.0 million cash each quarter. It is certainly not a stock that suits everyone’s portfolio. Perhaps the Investment Guru knows something that the rest of us do not? His action certainly says so.

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