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 - $0.93|
|$ 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 - $1.85|
|$ 1.48||-8%||Add 38.77%||4,660,517|
|CRIS||2008-06-30|| $1.17 - $1.53|
|$ 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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