Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Curis (NASDAQ:CRIS), a clinical-stage biopharmaceutical company focused on developing cancer therapeutics, sank as much as 21% today. This was on the day after reporting preliminary data from its ongoing phase 1 trial for CUDC-907 as a treatment for relapsed/refractory lymphoma or multiple myeloma at the American Society for Hematology's annual meeting.
So what: According to Curis' press release, CUDC-907 has been tested in two dosing regimens: a daily dosing, and a bi-weekly regimen. The daily dosing regimen was consistent with higher adverse event occurrences and toxicities in comparison to the bi-weekly regimen, which demonstrated good tolerability. Based on Curis' very early findings, one patient has demonstrated a partial anti-tumor response, while stable disease has been noted in seven of 11 evaluable patients. The company is still conducting dose escalation trials in the bi-weekly arm.
Now what: We're still very, very early in the game here when it comes to the development of CUDC-907, a PI3K and HDAC dual inhibitor, but I believe biotech savvy analysts were looking for a greater anti-tumor response than just one patient -- thus the reason for today's tumble. The bright side here is that the bi-weekly dosing arm hasn't reached its maximum dosage levels yet, meaning the effect of CUDC-907 with regard to anti-tumor activity could improve. For now, as I usually suggest with very early stage data, I would suggest sticking to the sidelines and waiting for mid- and late-stage data to do the talking.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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