(Corrects first bullet point to clarify that Curis has
sufficient cash for operations into H1 2012, not H1 2010)
* Curis says sufficient cash for operations into H1 2012
* Curis says Debipharm plans to start early-stage trials
* Shares up 7 pct in premarket trade
Feb 12 Curis Inc (CRIS.O) said it will receive
$8 million in milestone payments from Swiss company Debiopharm,
after its cancer treatment received approval from French
regulators, sending its shares up 7 percent in premarket trade.
The drugmaker said its licensee Debiopharm plans to start
early-stage trial to evaluate the safety of the treatment,
Debio 0932, during the first quarter.
Curis' Chief Financial Officer Mike Gray said the company
intends to use the milestone payment to develop its drug
Curis said it currently has adequate cash to fund
operations into the first half of 2012, which does not include
additional future milestone payments from any collaborations.
Last month, the company had raised about $16.3 million in a
Shares of Curis were trading up 5 percent at $2.42 Friday
before the bell. They closed at $2.31 Thursday on Nasdaq.
(Reporting by Anuradha Ramanathan in Bangalore; Editing by
Anil D'Silva) ((firstname.lastname@example.org; within
U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800: Reuters