Curis, Inc. (NASDAQ:CRIS) Q3 2022 Earnings Conference Call November 9, 2022 4:30 PM ET
Company Participants
Craig West – Vice President-Investor Relations and Corporate Communications
Jim Dentzer – President and Chief Executive Officer
Diantha Duvall – Chief Financial Officer
Conference Call Participants
Ed White – H.C. Wainwright
Soumit Roy – Jones Research
Li Watsek – Cantor Fitzgerald
Operator
Good afternoon, and welcome to Curis' Third Quarter 2022 Business Update Call. All participants will be in listen-only mode. [Operator Instructions] After the company’s prepared remarks, call participants will have an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Curis' Vice President of Investor Relations and Corporate Communications, Craig West. Please go ahead.
Craig West
Thank you, and welcome to Curis' third quarter 2022 business update call. Before we begin, I would like to encourage everyone to go to the Investors section of our website at www.curis.com to find our third quarter 2022 earnings release and related financial tables.
I would also like to remind everyone that during the call, we will be making forward-looking statements which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties, and actual results may differ materially. For additional details, please see our SEC filings.
Joining me on today's call are Jim Dentzer, President and Chief Executive Officer; Diantha Duvall, Chief Financial Officer; and Bob Martell, Head of R&D. We will also be available for a question-and-answer period at the end of the call.
I'd now like to turn the call over to Jim.
Jim Dentzer
Thanks, Craig. Good afternoon, everyone, and welcome to Curis' third quarter business update call. Every day, we strive to develop the next-generation of first-in-class cancer therapies that meaningfully improve and extend patients' lives. Earlier today, we announced that based on new data we have received in our TakeAim Leukemia study, we've made the decision to focus the company's resources on accelerating the path of bringing emavusertib to patients.
This focus on emavusertib and the corresponding deprioritization of our other programs will enable a reduction of approximately 30% of the company's workforce and is expected to extend the company's cash runway into 2025.
At this time, I'd like to acknowledge that while we are excited about the heightened focus of emavusertib, we understand the impact of deprioritizing our other programs has on our valued colleagues and friends who worked on them. We're grateful for all of their hard work and we wish them well as they pursue new opportunities.