Curis (CRIS) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	CRIS
Entity Registrant Name	CURIS INC
Entity Central Index Key	1,108,205
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		129,472,012

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 8,643	$ 33,091
Investments	53,028	49,100
Accounts receivable	1,869	2,106
Prepaid expenses and other current assets	975	1,204
Total current assets	64,515	85,501
Property and equipment, net	451	278
Long-term investment - restricted	153	153
Goodwill	8,982	8,982
Other assets	3	51
Total assets	74,104	94,965
Current Liabilities:
Accounts payable	3,875	4,217
Accrued liabilities	2,012	1,934
Current portion of long-term debt, net	5,429	4,607
Total current liabilities	11,316	10,758
Long-term debt, net	16,539	19,558
Other long-term liabilities	62	139
Total liabilities	27,917	30,455
Commitments
Stockholders' Equity:
Common stock, $0.01 par value-225,000,000 shares authorized; 130,685,068 shares issued and 129,462,222 shares outstanding at June 30, 2016; 130,213,224 shares issued and 128,990,378 shares outstanding at December 31, 2015	1,307	1,302
Additional paid-in capital	905,614	903,240
Treasury stock (at cost, 1,222,846 shares)	(1,524)	(1,524)
Accumulated deficit	(859,267)	(838,536)
Accumulated other comprehensive income	57	28
Total stockholders' equity	46,187	64,510
Total liabilities and stockholders' equity	$ 74,104	$ 94,965

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	225,000,000	225,000,000
Common stock, shares issued	130,685,068	130,213,224
Common stock, shares outstanding	129,462,222	128,990,378
Treasury stock, at cost	1,222,846	1,222,846

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Royalties	$ 1,842	$ 2,034	$ 3,586	$ 3,705
Research and development, net	(162)	49	(180)	36
Total revenues	1,680	2,083	3,406	3,741
Costs and Expenses:
Cost of royalty revenues	95	103	184	187
Research and development	8,822	5,938	15,650	10,657
In-process research and development				24,348
General and administrative	3,443	3,411	7,059	6,940
Total costs and expenses	12,360	9,452	22,893	42,132
Loss from operations	(10,680)	(7,369)	(19,487)	(38,391)
Other Expense:
Interest income	119	84	224	124
Interest expense	(729)	(843)	(1,468)	(1,710)
Total other expense, net	(610)	(759)	(1,244)	(1,586)
Net loss	$ (11,290)	$ (8,128)	$ (20,731)	$ (39,977)
Net loss per common share (basic and diluted)	$ (0.09)	$ (0.06)	$ (0.16)	$ (0.34)
Weighted average common shares (basic and diluted)	129,270,639	128,351,482	129,142,989	118,199,388
Total comprehensive loss	$ (11,293)	$ (8,128)	$ (20,702)	$ (39,967)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (20,731)	$ (39,977)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	90	82
Stock-based compensation expense	1,680	1,974
Amortization of debt issuance costs	24	31
Gain on disposal of assets		(16)
Non-cash interest expense (income) on investments	9	(47)
Issuance of common stock in consideration for rights granted under collaboration agreement		23,968
Changes in operating assets and liabilities:
Accounts receivable	237	(132)
Prepaid expenses and other assets	196	(274)
Accounts payable and accrued and other liabilities	(346)	(154)
Total adjustments	1,890	25,432
Net cash used in operating activities	(18,841)	(14,545)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investments	(48,744)	(66,296)
Sale of investments	44,836	41,443
Purchases of property and equipment	(256)	(15)
Decrease in restricted cash		14
Net cash used in investing activities	(4,164)	(24,854)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock associated with offerings, net of issuance costs		64,619
Proceeds from issuance of common stock under the Company's share-based compensation plans	698	195
Payments on Curis Royalty's debt	(2,141)	(1,677)
Net cash (used in)/provided by financing activities	(1,443)	63,137
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(24,448)	23,738
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	33,091	7,747
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 8,643	$ 31,485

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	1. Nature of Business Curis, Inc. is a biotechnology company seeking to develop and commercialize innovative drug candidates for the treatment of cancers. As used throughout these consolidated financial statements, the term “the Company” refers to the business of Curis, Inc. and its wholly owned subsidiaries, except where the context otherwise requires, and the term “Curis” refers to Curis, Inc. The Company conducts its research and development programs both internally and through strategic collaborations. The Company’s most advanced drug candidate is CUDC-907, which is being investigated in clinical studies in patients with diffuse large B-cell lymphoma and solid tumors. In January 2015, the Company entered into an exclusive collaboration agreement focused on immuno-oncology and selected precision oncology targets with Aurigene Discovery Technologies Limited, or Aurigene (Note 4(b)). The collaboration comprises multiple programs, in which Curis has the option to exclusively license compounds once a development candidate is nominated within each respective program. In October 2015, the Company exercised options to license the first two programs under this collaboration. The first licensed program is focused on the development of orally-available small molecule antagonists of programmed death-1 (PD-1) and V-domain Ig suppressor of T-cell activation (VISTA) in the immuno-oncology field. The Company has named CA-170, a programmed death ligand-1 (PD-L1)/VISTA antagonist, as the development candidate from this program. The second licensed program is focused on orally-available small molecule inhibitors of Interleukin-1 receptor-associated kinase 4 (IRAK4) in the precision oncology field and the Company has named CA-4948 as the development candidate from this program. In addition, in October 2015, the Company selected a third program for potential further development under the collaboration, the second preclinical program within the immuno-oncology field, which is focused on evaluating small molecule antagonists of PD-1 and T-cell immunoglobulin and mucin domain containing protein-3 (TIM-3) pathways, including small molecules that target PD-L1 and TIM-3. The Company has not yet exercised its option to license this third program. The Company is also party to a collaboration with F. Hoffmann-La Roche Ltd, or Roche, and Genentech Inc., or Genentech, a member of the Roche Group, under which Roche and Genentech are commercializing Erivedge ® The Company’s proprietary small molecule compounds also include CUDC-427, an orally-available, small molecule antagonist of inhibitor of apoptosis, or IAP proteins, and CUDC-305, a Heat Shock Protein 90, or HSP90, inhibitor. The Company operates in a single reportable segment, which is the research and development of innovative cancer therapeutics. The Company expects that any products that are successfully developed and commercialized would be used in the health care industry and would be regulated in the United States by the FDA and in overseas markets by similar regulatory authorities. The Company is subject to risks common to companies in the biotechnology industry as well as risks that are specific to the Company’s business, including, but not limited to: the Company’s ability to advance and expand its research and development programs; the Company’s reliance on Aurigene to successfully discover and preclinically develop drug candidates under the parties’ collaboration agreement; the Company’s reliance on Genentech and Roche to successfully commercialize Erivedge in the approved indication of advanced BCC and to progress its clinical development in indications other than BCC; the Company’s ability to obtain adequate financing to fund its operations; the ability of the Company’s wholly owned subsidiary, Curis Royalty, LLC, or Curis Royalty, to satisfy the terms of its loan agreement with BioPharma Secured Debt Fund II Sub, S.à.r.l., a Luxembourg limited liability company managed by Pharmakon Advisors, or BioPharma-II; the Company’s ability to obtain and maintain necessary intellectual property protection; development by the Company’s competitors of new or better technological innovations; dependence on key personnel; the Company’s ability to comply with regulatory requirements; and the Company’s ability to execute on its overall business strategies. The Company’s future operating results will largely depend on the progress of drug candidates currently in its development pipeline and the magnitude of payments that it receives and makes under its current and potential future collaborations. The results of the Company’s operations may vary significantly from year to year and quarter to quarter and depend on a number of factors, including, but not limited to: the timing, outcome and cost of the Company’s preclinical studies and clinical trials for its drug candidates; Aurigene’s ability to successfully discover and develop preclinical programs under the Company’s collaboration with Aurigene, as well as the Company’s decision to exclusively license and further develop programs under this collaboration; Roche and Genentech’s ability to successfully commercialize Erivedge; positive results in Roche and Genentech’s ongoing clinical trials. The Company anticipates that its existing cash, cash equivalents and investments at June 30, 2016 should enable it to maintain current and planned operations into 2017. The Company’s ability to continue funding its planned operations beyond this period is dependent upon, among other things, its ability to control expenses and its ability to raise additional funds through equity or debt financings, the success of its collaboration with Genentech, including its receipt of additional contingent cash payments under this collaboration, new collaborations or other sources of financing. The Company may not be able to successfully raise additional funds or enter into or continue any corporate collaborations and the timing, amount and likelihood of such events is highly uncertain. If the Company is unable to obtain adequate financing, the Company may be required to reduce or delay spending on its research and/or development programs.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. These statements, however, are condensed and do not include all disclosures required by accounting principles generally accepted in the United States, or GAAP, for complete financial statements and should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, or the Annual Report, as filed with the Securities and Exchange Commission on February 29, 2016. In the opinion of the Company, the unaudited financial statements contain all adjustments (all of which were considered normal and recurring) necessary for a fair statement of the Company’s financial position at June 30, 2016 and the results of operations for the three- and six-month periods ended June 30, 2016 and 2015 and the cash flows for the six-month periods ended June 30, 2016 and 2015. The condensed consolidated balance sheet at December 31, 2015, was derived from audited annual financial statements, but does not contain all of the footnote disclosures from the annual financial statements. The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosure of certain assets and liabilities at the balance sheet date. Such estimates include the performance obligations under the Company’s collaboration agreements; the estimated repayment term of the Company’s debt and related short- and long-term classification; the fair value of the Company’s debt; the collectability of receivables; the carrying value of property and equipment and intangible assets; the assumptions used in the Company’s valuation of stock-based compensation and the value of certain investments and liabilities. Actual results may differ from such estimates. These interim results are not necessarily indicative of results to be expected for a full year or subsequent interim periods.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Revenue Recognition	3. Revenue Recognition The Company is currently a party to a collaboration agreement with Genentech, the terms of which provide for Genentech to make a non-refundable license fee payment, research and development funding payments, contingent cash payments based upon achievement of clinical development and regulatory objectives, and royalties on product sales if any products are successfully commercialized. For a complete discussion of the Company’s revenue recognition policy, see Note 2(c) included in its 2015 Annual Report on Form 10-K.

Collaboration Agreements

Collaboration Agreements	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration Agreements	4. Collaboration Agreements (a) Genentech, Inc. In June 2003, the Company licensed its proprietary Hedgehog pathway technologies to Genentech for human therapeutic use. The primary focus of the collaborative research plan has been to develop molecules that inhibit the Hedgehog pathway for the treatment of various cancers. The collaboration is currently focused on the development of Erivedge, which is being commercialized by Genentech in the United States and by Genentech’s parent company, Roche, in several other countries for the treatment of advanced BCC. Roche is also conducting additional exploratory clinical studies in patients with less severe forms of BCC. Pursuant to the agreement, the Company is eligible to receive up to an aggregate of $115,000 in contingent cash milestone payments, exclusive of royalty payments, in connection with the development of Erivedge or another small molecule Hedgehog pathway inhibitor, assuming the successful achievement by Genentech and Roche of specified clinical development and regulatory objectives. Of this amount, the Company has received $59,000 as of June 30, 2016. In addition to these payments and pursuant to the agreement, the Company is entitled to a royalty on net sales of Erivedge that ranges from 5% to 7.5%. The royalty rate applicable to Erivedge may be decreased by 2% on a country-by-country basis in certain specified circumstances, including when a competing product that binds to the same molecular target as Erivedge is approved by the applicable regulatory authority in another country, and is being sold in such country, by a third party for use in the same indication as Erivedge, or, when there is no issued intellectual property covering Erivedge in a territory in which sales are recorded. In 2015, the FDA and the European Medicine Agency’s Committee for Medicinal Products for Human Use, or CHMP, approved another Hedgehog signaling pathway inhibitor, sonidegib, which is marketed by Novartis, for use in locally advanced BCC. Beginning in the fourth quarter of 2015, Genentech applied the 2% royalty reduction on United States sales of Erivedge as a result of the first commercial sale of sonidegib in the United States. In December 2012, Curis formed a wholly owned subsidiary, Curis Royalty, which received a $30,000 loan at an annual interest rate of 12.25% pursuant to a credit agreement between Curis Royalty and BioPharma-II (Note 7). In connection with the loan, Curis transferred to Curis Royalty its right to receive royalty and royalty-related payments on the commercial sales of Erivedge that it receives from Genentech. The loan and accrued interest is being repaid by Curis Royalty using such royalty and royalty-related payments. The loan constitutes an obligation of Curis Royalty and is non-recourse to Curis. The Company recognized $1,842 and $2,034 in royalty revenue under the Genentech collaboration during the three months ended June 30, 2016 and 2015, respectively, and $3,586 and $3,705 during the six months ended June 30, 2016 and 2015, respectively. The Company recorded costs of royalty revenues within the costs and expenses section of its condensed consolidated statements of operations and comprehensive loss of $95 and $103 during the three months ended June 30, 2016 and 2015, respectively, and $184 and $187 during the six months ended June 30, 2016 and 2015, respectively. For each of these periods, these amounts are comprised of 5% of the royalties earned by Curis Royalty that the Company is obligated to pay to university licensors. As further discussed in Note 7, the Company expects that all royalty revenues received by Curis Royalty from Genentech on net sales of Erivedge will be used by Curis Royalty to pay principal and interest under the loan that Curis Royalty received from BioPharma-II, subject to specified quarterly caps, until such time as the loan is fully repaid. The Company recorded research and development revenue of $56 and $84 during the three months ended June 30, 2016 and 2015, respectively, and research and development revenue of $109 and $140 during the six months ended June 30, 2016 and 2015, respectively, related to expenses incurred by the Company on behalf of Genentech that were paid by the Company and for which Genentech is obligated to reimburse the Company. Genentech incurred expenses of $218 and $46 during the three months ended June 30, 2016 and 2015, respectively, and expenses of $289 and $114 during the six months ended June 30, 2016 and 2015, respectively, under this collaboration, for which the Company is obligated to reimburse to Genentech, and which the Company has recorded as contra-revenues in its condensed consolidated statements of operations and comprehensive loss. b) Aurigene Agreement In January 2015, the Company entered into an exclusive collaboration agreement with Aurigene for the discovery, development and commercialization of small molecule compounds in the areas of immuno-oncology and selected precision oncology targets. Under the collaboration agreement, Aurigene granted the Company an option to obtain exclusive, royalty-bearing licenses to relevant Aurigene technology to develop, manufacture and commercialize products containing certain of such compounds. For each program, Aurigene has granted the Company an exclusive option, exercisable within 90 days after Aurigene delivers the relevant data regarding a development candidate, to obtain an exclusive, royalty-bearing license to develop, manufacture and commercialize compounds from such program, including the development candidate and products containing such compounds, anywhere in the world, except for India and Russia. For the development, manufacture, and commercialization of compounds from a particular program and products containing such compounds in India and Russia, Aurigene will grant the Company the royalty-bearing license described above for such program, and the Company will grant Aurigene an exclusive, royalty-free, fully paid license under the Company’s relevant technology upon exercise of the relevant option. During 2015, the Company exercised options to license the first two programs under this collaboration, resulting in an aggregate one-time payment of $6,000 (comprised of a $3,000 option exercise fee for each program) by the Company to Aurigene. Effective October 2015, the Company agreed to make additional payments to Aurigene totaling up to $2,000 for supplemental research, development and/or manufacturing activities in support of these two programs. The Company incurred and recognized $1,000 of such costs in the three months ended December 31, 2015, which was paid in the three months ended March 31, 2016. The remaining $1,000 was incurred and recognized in the three months ended March 31, 2016 and paid in the three months ended June 30, 2016. Also in 2015, the Company selected a preclinical program for potential further development within the immuno-oncology part of the collaboration, as described in Note 1. The Company has not yet exercised its option to license this third program under the collaboration. The Company anticipates that it will select additional programs under this collaboration in the future, and the Company intends to have the collaboration’s steering committee recommend such additional programs in order for Aurigene to initiate or continue the relevant preclinical activities described in each program’s written plan. For each option to license (as described above) exercised by the Company, the Company is obligated to use commercially reasonable efforts to develop, obtain regulatory approval for, and commercialize at least one product in each of the United States, specified countries in the European Union, and Japan, and Aurigene is obligated to use commercially reasonable efforts to perform its obligations under the development plan for such licensed program in an expeditious manner. Subject to specified exceptions, Aurigene and the Company have agreed to collaborate exclusively with each other on the discovery, research, development and commercialization of programs and compounds within immuno-oncology for an initial period of approximately two years from the effective date of the collaboration agreement. At the Company’s option, and subject to specified conditions, it may extend such exclusivity for up to three additional one-year periods by paying to Aurigene exclusivity option fees on an annual basis. The first of such option fees will be $7,500, and the Company currently estimates that this payment will be due in the first quarter of 2017. In addition, beyond the up-to five years of exclusivity described above, and subject to specified exceptions and payment by the Company of an annual exclusivity fee on a program-by-program basis, Aurigene and the Company have agreed to collaborate exclusively with each other on each program for which there are ongoing activities in research or development, or for which the Company has exercised its option to acquire an exclusive license (as described above) and the Company or its affiliates or sublicensees are actively developing or commercializing a compound or product from such program in a major market. For each product that may be commercialized, the Company has granted Aurigene the right, subject to certain conditions, to nominate one global drug substance or drug product supplier to provide up to 50% of the total requirements in the Company’s territory. Research Payments, Option Exercise Fees and Milestone Payments. • for the PD-1/VISTA and IRAK4 programs: up to $52,500 per program, comprised of: $3,000 for each option exercise, $3,000 upon acceptance of each IND filing, $4,000 upon dosing of the fifth patient in the Company’s first Phase 1 clinical trial in each program, as well as specified approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any. Effective October 2015, the Company agreed to make additional payments to Aurigene totaling up to $2,000 for supplemental research, development and/or manufacturing activities in support of these two programs. During the three months ended June 30, 2016, the Company recognized and paid $3,000 to Aurigene upon the acceptance of the IND filing for CA-170, a PD-L1/VISTA antagonist. Since the inception of the agreement through June 30, 2016, the Company has incurred costs totaling $11,000 related to these programs under the collaboration; • for the third and fourth programs: up to $50,000 per program, comprised of: $2,000 for a program selection fee, $3,000 for an option exercise, $2,500 upon acceptance of an IND filing, as well as development, approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any. Since the inception of the agreement through June 30, 2016, the Company has made payments to Aurigene totaling $2,000 related to the third program under this collaboration; and • for any program thereafter: up to $140,500 per program, comprised of: up to a total of $53,000 for research fees, an option exercise fee, a preclinical milestone and development milestones, as well as specified filing, approval and commercial milestones, plus specified additional payments for approvals for additional indications, if any. As of June 30, 2016, no payments have been made to Aurigene related to such programs under the collaboration.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements The Company discloses fair value measurements based on a framework outlined by GAAP which requires expanded disclosures regarding fair value measurements. GAAP defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. GAAP also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. In accordance with the fair value hierarchy, the following table shows the fair value as of June 30, 2016 and December 31, 2015 of those financial assets and liabilities that are measured at fair value on a recurring basis. Quoted Prices in Other Observable Unobservable Total Fair Value As of June 30, 2016: Cash equivalents: Money market funds $ 7,313 $ — $ — $ 7,313 Corporate commercial paper, bonds and notes — 390 — 390 Short-term investments: Corporate commercial paper, stock, bonds and notes 7,469 45,559 — 53,028 Total assets at fair value $ 14,782 $ 45,949 $ — $ 60,731 Quoted Prices in Other Observable Unobservable Total Fair Value As of December 31, 2015: Cash equivalents: Money market funds $ 13,568 $ — $ — $ 13,568 Corporate commercial paper, bonds and notes 2,001 7,998 — 9,999 Municipal bonds — 7,850 — 7,850 Short-term investments: Corporate commercial paper, stock, bonds and notes 2,644 46,456 — 49,100 Total assets at fair value $ 18,213 $ 62,304 $ — $ 80,517 No investments held at June 30, 2016 were transferred between levels.

Investments

Investments	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	6. Investments The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of June 30, 2016 are as follows: Amortized Unrealized Unrealized Total Fair Value Corporate bonds and notes – short-term $ 52,971 $ 66 $ (9 ) $ 53,028 Total investments $ 52,971 $ 66 $ (9 ) $ 53,028 Short-term investments have maturities ranging from one and twelve months with a weighted average maturity of 3.81 months at June 30, 2016. The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2015 are as follows: Amortized Unrealized Unrealized Total Fair Value Corporate bonds and notes – short-term $ 49,072 $ 44 $ (16 ) $ 49,100 Total investments $ 49,072 $ 44 $ (16 ) $ 49,100 Short-term investments have maturities ranging from one and 12 months with a weighted average maturity of 4.2 months at December 31, 2015.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	7. Debt In December 2012, Curis’ wholly owned subsidiary, Curis Royalty, received a $30,000 loan at an annual interest rate of 12.25% pursuant to a credit agreement between Curis Royalty and BioPharma-II. In connection with the loan, Curis transferred to Curis Royalty its right to receive royalty and royalty-related payments on the commercial sales of Erivedge that it receives from Genentech (Note 4(a)). The loan and accrued interest is being repaid by Curis Royalty using such royalty and royalty-related payments. To secure repayment of the loan, Curis Royalty granted a first priority lien and security interest (subject only to permitted liens) to BioPharma-II in all of its assets and all real, intangible and personal property, including all of its right, title and interest in and to the royalty and royalty-related payments. The loan constitutes an obligation of Curis Royalty, and is non-recourse to Curis. Under the terms of the loan, quarterly royalty payments received by Curis Royalty from Genentech will first be applied to pay (i) escrow fees payable by Curis pursuant to an escrow agreement between Curis, Curis Royalty, BioPharma-II and Boston Private Bank and Trust Company, (ii) Curis’ royalty obligations to university licensors, (iii) certain expenses incurred by BioPharma-II in connection with the credit agreement and related transaction documents, including enforcement of its rights in the case of an event of default under the credit agreement and (iv) expenses incurred by Curis enforcing its right to indemnification under the collaboration agreement with Genentech. Remaining amounts are applied first to pay interest and second, principal on the loan. Curis remains entitled to receive any contingent payments upon achievement of clinical development objectives. Curis Royalty retains its right to royalty payments related to sales of Erivedge following repayment of the loan. The final maturity date of the loan will be the earlier of the date when the principal is paid in full or the termination of Curis Royalty’s right to receive royalties under the collaboration agreement with Genentech. Because the repayment of the term loan is contingent upon the level of Erivedge royalties received, the short- and long-term classification of the debt is based on the Company’s estimate of the timing of amounts to be repaid. The Company cannot estimate when the loan will be repaid as repayment is impacted by numerous factors, all of which are beyond the Company’s control. The repayment term may be shortened or extended depending on the actual level of Erivedge royalties received. In addition, if Erivedge royalties are insufficient to pay the accrued interest on the outstanding loan, any unpaid interest outstanding will be added to the principal on a quarterly basis. The length of the actual repayment period could vary materially to the extent that royalty payments Curis Royalty receives are lower than the Company’s current estimates, which could arise due to factors beyond the Company’s control, such as the sale of competing products that result in a lowering of the royalty rates that Curis Royalty is entitled to receive, decreased market acceptance or a failure by Genentech and/or Roche to successfully commercialize Erivedge in territories where it has received regulatory approval. At any time after January 1, 2017, Curis Royalty may, subject to certain limitations, prepay the outstanding principal of the loan in whole or in part, at a price equal to 105% of the outstanding principal on the loan, plus accrued but unpaid interest. The obligations of Curis Royalty under the credit agreement to repay the loan may be accelerated upon the occurrence of an event of default as defined in the credit agreement. During the six months ended June 30, 2016 and 2015, Curis Royalty made payments totaling $3,585 and $3,356, respectively, of which $2,141 and $1,677 have been applied to the principal, respectively, with the remainder applied to accrued interest. As of June 30, 2016, the Company recorded short- and long-term debt of $5,429 and $16,539, respectively (net of unamortized issuance costs of $48 and $94, respectively), and at December 31, 2015, the Company recorded short- and long-term debt of $4,607 and $19,558, respectively (net of unamortized issuance costs of $12 and $73, respectively), related to the loan, with such amounts recorded within the Company’s condensed consolidated balance sheets. In the three months ended March 31, 2016, the Company adopted ASU No. 2015-03 , Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In addition, the Company recorded related accrued interest on the debt of $252 as of both June 30, 2016 and December 31, 2015, with such amounts included in the Company’s accrued liabilities section of its condensed consolidated balance sheets. For the three months ended June 30, 2016 and 2015, the Company recognized interest expense related to the loan with BioPharma-II of $729 and $843, respectively, in the condensed consolidated statement of operations and comprehensive loss. For the six months ended June 30, 2016 and 2015, the Company recognized interest expense related to the loan with BioPharma-II of $1,468 and $1,710, respectively, in the condensed consolidated statement of operations and comprehensive loss. At June 30, 2016, the fair value of the debt approximates its carrying value due to the expected repayment period and the interest rate yield is near current market rate yields. Due to the assumptions required in estimating future Erivedge royalties, the expected repayment period and weighting of various royalty projection scenarios, the fair value of the debt is measured using Level 3 inputs.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2016
Other Liabilities Disclosure [Abstract]
Accrued Liabilities	8. Accrued Liabilities Accrued liabilities consist of the following: June 30, December 31, Accrued compensation $ 1,237 $ 1,310 Professional fees 297 123 Accrued interest on debt (Note 7) 252 252 Other 226 249 Total $ 2,012 $ 1,934

Accounting for Stock-Based Comp

Accounting for Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Accounting for Stock-Based Compensation	9. Accounting for Stock-Based Compensation As of June 30, 2016, the Company had two shareholder-approved, share-based compensation plans: (i) the Amended and Restated 2010 Stock Incentive Plan, or the 2010 Plan, adopted by the board of directors in March 2015 and approved by shareholders in May 2015 and (ii) the 2010 Employee Stock Purchase Plan, or the ESPP, adopted by the board of directors in April 2010 and approved by shareholders in June 2010. During the six months ended June 30, 2016, the Company’s board of directors granted options to purchase 2,400,225 shares of the Company’s common stock to officers and employees of the Company under the 2010 Plan. These options vest as to 25% of the shares underlying the award after the first year and as to an additional 6.25% of the shares underlying the award in each subsequent quarter, based upon continued employment over a four-year period, and are exercisable at a price equal to the closing price of the Company’s common stock on the NASDAQ Global Market on the grant dates. On March 29, 2016, the Company’s board of directors appointed James E. Dentzer to the position of chief financial officer, chief administrative officer, secretary and treasurer of the Company. As a material inducement to his employment, the compensation committee of the Company’s board of directors granted Mr. Dentzer a stock option to purchase 1,700,000 shares of the Company’s common stock with an exercise price equal to the fair market value of $1.51 per share. The option was granted as an inducement equity award under NASDAQ Listing Rule 5635(c)(4) outside of the 2010 Plan. The option will vest as to 25% of the shares underlying the option on the first anniversary of the grant date, and as to an additional 6.25% of the shares underlying the option on each successive three-month period thereafter, subject to Mr. Dentzer’s continued service with the Company. During the six months ended June 30, 2016, the Company’s board of directors also granted options to its non-employee directors to purchase 470,000 shares of common stock under the 2010 Plan, which will vest and become exercisable in equal monthly installments over a period of one year from the date of grant. These options were granted at an exercise price of $1.76 per share, which equals the closing market price of the Company’s common stock on the NASDAQ Global Market on the grant date. Employee and Director Grants Vesting Tied to Service Conditions In determining the fair value of stock options, the Company generally uses the Black-Scholes option pricing model. As discussed below, for employee stock options with market performance conditions, the Company uses a Monte Carlo simulation valuation model. The Black-Scholes option pricing model employs the following key assumptions for employee and director options awarded during the six months ended June 30, 2016 and 2015 based on the assumptions noted in the following table: Six Months Ended June 30, 2016 2015 Expected life (years) - employees 6 6 Expected life (years) – officers and directors 7 7 Risk-free interest rate 1.4-1.8 % 1.5-1.9 % Volatility 69-70 % 68-70 % Dividends None None The expected volatility is based on the annualized daily historical volatility of the Company’s stock price for a time period consistent with the expected term of each grant. Management believes that the historical volatility of the Company’s stock price best represents the future volatility of the stock price. The risk-free rate is based on the U.S. Treasury yield in effect at the time of grant for the expected term of the respective grant. The Company has not historically paid cash dividends, and does not expect to pay cash dividends in the foreseeable future. The expected terms and stock price volatility utilized in the calculation involve management’s best estimates at that time, both of which impact the fair value of the option calculated under the Black-Scholes methodology and, ultimately, the expense that will be recognized over the life of the option. GAAP also requires that the Company recognize compensation expense for only the portion of options that are expected to vest. Therefore, management calculated an estimated annual pre-vesting forfeiture rate that is derived from historical employee termination behavior since the inception of the Company, as adjusted. If the actual number of forfeitures differs from those estimated by management, additional adjustments to compensation expense may be required in future periods. As of June 30, 2016, there were 16,196,884 stock options outstanding. The aggregate intrinsic value of employee options outstanding at June 30, 2016 was $836, of which $726 related to exercisable options. The weighted average grant-date fair values of these stock options granted during the six months ended June 30, 2016 and 2015 were $1.07 and $1.71, respectively. As of June 30, 2016, there was approximately $7,636, net of the impact of estimated forfeitures, of unrecognized compensation cost related to unvested employee stock option awards outstanding that is expected to be recognized as expense over a weighted average period of 2.75 years. The intrinsic values of employee stock options exercised during the six months ended June 30, 2016 and 2015 was $159 and $75, respectively. Employee Stock-Based Compensation Expense The Company recorded a total of $894 and $1,779 in compensation expense for the three and six months ended June 30, 2016, respectively and $895 and $1,726 in compensation expense for the three and the six months ended June 30, 2015, respectively, related to employee and director stock option grants. The total fair values of vested stock options for the six months ended June 30, 2016 and 2015 were $2,194 and $1,529, respectively. Non-Employee Grants The Company has periodically granted stock options to consultants for services pursuant to the Company’s stock plans at the fair market value on the respective dates of grant. Should the Company terminate any of its consulting agreements, the unvested options underlying the agreements would also be cancelled. The Company recognized expense related to non-employee stock options of $14 during the three months ended June 30, 2016 and reversed expense of $99 during the six months ended June 30, 2016, respectively, and recognized expense related to non-employee stock options of $128 and $248 during the three and six months ended June 30, 2015, respectively. Total Stock-Based Compensation Expense For the three months ended June 30, 2016 and 2015, the Company recorded stock-based compensation expense to the following line items in its costs and expenses section of the condensed consolidated statements of operations and comprehensive loss, including expense related to its ESPP: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Research and development expenses $ 204 $ 314 $ 326 $ 602 General and administrative expenses 704 709 1,354 1,372 Total stock-based compensation expense $ 908 $ 1,023 $ 1,680 $ 1,974

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	10. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss) as of June 30, 2016 and 2015: Unrealized Gain on Securities Available-for-Sale Balance, as of December 31, 2015 $ 28 Unrealized gain on marketable securities 29 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income 29 Balance, as of June 30, 2016 $ 57 The above amounts do not reflect a tax effect because the Company expects to record a net loss for 2016. Unrealized Losses and Securities Available-for-Sale Balance, as of December 31, 2014 $ (11 ) Unrealized gain on marketable securities 9 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income 9 Balance, as of June 30, 2015 $ (2 )

Loss Per Common Share

Loss Per Common Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Loss Per Common Share	11. Loss Per Common Share Basic and diluted loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is the same as basic net loss per common share for the three and six months ended June 30, 2016 and 2015, because the effect of the potential common stock equivalents would be antidilutive due to the Company’s net loss position for these periods. Antidilutive securities consist only of stock options outstanding of 16,196,884 and 13,552,649 as of June 30, 2016 and 2015, respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions Consulting agreement with Daniel R. Passeri On June 2, 2014, Daniel R. Passeri resigned as Chief Executive Officer of the Company and the Company’s board of directors appointed Mr. Passeri to serve as the Vice Chairman of the board of directors. Also on June 2, 2014, the Company and Mr. Passeri entered into a consulting agreement. The agreement was for an initial term of one year, subject to renewal or earlier termination by the parties. The agreement was renewed by the parties through May 31, 2016, after which the agreement between Mr. Passeri and the Company was terminated. Pursuant to the terms of the agreement, Mr. Passeri was paid an hourly fee or a monthly retainer as consideration for the services rendered by Mr. Passeri to the Company. During the five months ended May 31, 2016, Mr. Passeri provided consulting services to the Company on intellectual property, corporate and strategic matters in exchange for payments of $30 per month. During the six months ended June 30, 2015, Mr. Passeri had full-time employment with a third party and was paid an hourly fee for services rendered to the Company during this time. The Company recognized expenses of $60 and $12 during the three months ended June 30, 2016 and 2015, respectively, and expenses of $150 and $17 during the six months ended June 30, 2016 and 2015, respectively.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	13. New Accounting Pronouncements In January 2016, the FASB issued Accounting Standards Update, or ASU, 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to continue as a Going Concern. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Fair Value Measurements and Disclosures	The Company discloses fair value measurements based on a framework outlined by GAAP which requires expanded disclosures regarding fair value measurements. GAAP defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. GAAP also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Accounting for Stock-Based Compensation	As of June 30, 2016, the Company had two shareholder-approved, share-based compensation plans: (i) the Amended and Restated 2010 Stock Incentive Plan, or the 2010 Plan, adopted by the board of directors in March 2015 and approved by shareholders in May 2015 and (ii) the 2010 Employee Stock Purchase Plan, or the ESPP, adopted by the board of directors in April 2010 and approved by shareholders in June 2010.
Earnings Per Share	Basic and diluted loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is the same as basic net loss per common share for the three and six months ended June 30, 2016 and 2015, because the effect of the potential common stock equivalents would be antidilutive due to the Company’s net loss position for these periods. Antidilutive securities consist only of stock options outstanding of 16,196,884 and 13,552,649 as of June 30, 2016 and 2015, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Financial Assets or Liabilities Measured at Fair Value on Recurring Basis	In accordance with the fair value hierarchy, the following table shows the fair value as of June 30, 2016 and December 31, 2015 of those financial assets and liabilities that are measured at fair value on a recurring basis. Quoted Prices in Other Observable Unobservable Total Fair Value As of June 30, 2016: Cash equivalents: Money market funds $ 7,313 $ — $ — $ 7,313 Corporate commercial paper, bonds and notes — 390 — 390 Short-term investments: Corporate commercial paper, stock, bonds and notes 7,469 45,559 — 53,028 Total assets at fair value $ 14,782 $ 45,949 $ — $ 60,731 Quoted Prices in Other Observable Unobservable Total Fair Value As of December 31, 2015: Cash equivalents: Money market funds $ 13,568 $ — $ — $ 13,568 Corporate commercial paper, bonds and notes 2,001 7,998 — 9,999 Municipal bonds — 7,850 — 7,850 Short-term investments: Corporate commercial paper, stock, bonds and notes 2,644 46,456 — 49,100 Total assets at fair value $ 18,213 $ 62,304 $ — $ 80,517

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost, Unrealized Gains and Losses and Fair Value of Investments	The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of June 30, 2016 are as follows: Amortized Unrealized Unrealized Total Fair Value Corporate bonds and notes – short-term $ 52,971 $ 66 $ (9 ) $ 53,028 Total investments $ 52,971 $ 66 $ (9 ) $ 53,028 The amortized cost, unrealized gains and losses and fair value of investments available-for-sale as of December 31, 2015 are as follows: Amortized Unrealized Unrealized Total Fair Value Corporate bonds and notes – short-term $ 49,072 $ 44 $ (16 ) $ 49,100 Total investments $ 49,072 $ 44 $ (16 ) $ 49,100

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Other Liabilities Disclosure [Abstract]
Accrued Liabilities	Accrued liabilities consist of the following: June 30, December 31, Accrued compensation $ 1,237 $ 1,310 Professional fees 297 123 Accrued interest on debt (Note 7) 252 252 Other 226 249 Total $ 2,012 $ 1,934

Accounting for Stock-Based Co23

Accounting for Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Valuation Assumptions Used to Calculate Fair Value of Employee Options Awarded	The Black-Scholes option pricing model employs the following key assumptions for employee and director options awarded during the six months ended June 30, 2016 and 2015 based on the assumptions noted in the following table: Six Months Ended June 30, 2016 2015 Expected life (years) - employees 6 6 Expected life (years) – officers and directors 7 7 Risk-free interest rate 1.4-1.8 % 1.5-1.9 % Volatility 69-70 % 68-70 % Dividends None None
Summary of Share Based Compensation Expense Allocation	For the three months ended June 30, 2016 and 2015, the Company recorded stock-based compensation expense to the following line items in its costs and expenses section of the condensed consolidated statements of operations and comprehensive loss, including expense related to its ESPP: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Research and development expenses $ 204 $ 314 $ 326 $ 602 General and administrative expenses 704 709 1,354 1,372 Total stock-based compensation expense $ 908 $ 1,023 $ 1,680 $ 1,974

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (loss) as of June 30, 2016 and 2015: Unrealized Gain on Securities Available-for-Sale Balance, as of December 31, 2015 $ 28 Unrealized gain on marketable securities 29 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income 29 Balance, as of June 30, 2016 $ 57 The above amounts do not reflect a tax effect because the Company expects to record a net loss for 2016. Unrealized Losses and Securities Available-for-Sale Balance, as of December 31, 2014 $ (11 ) Unrealized gain on marketable securities 9 Amounts reclassified from accumulated other comprehensive income (loss) — Net current period other comprehensive income 9 Balance, as of June 30, 2015 $ (2 )

Nature of Business - Additional

Nature of Business - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reportable segments	1

Collaboration Agreements - Addi

Collaboration Agreements - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended					6 Months Ended		12 Months Ended	18 Months Ended
	Jan. 31, 2015	Mar. 31, 2017	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Jun. 30, 2016	Oct. 31, 2015	Dec. 31, 2012
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Recognized royalty revenue			$ 1,842,000			$ 2,034,000	$ 3,586,000	$ 3,705,000
Cost of royalty revenues			95,000			103,000	$ 184,000	187,000
Curis Royalty [Member] | Credit Agreement with BioPharma-II [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Principal loan amount to Curis Royalty given by BioPharma under credit agreement												$ 30,000,000
Interest rate on loan to Curis Royalty given by BioPharma under credit agreement												12.25%
Scenario, Forecast [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Option fees estimated		$ 7,500,000
Aurigene Discovery Technologies, Ltd. [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, option exercisable period									90 days
Collaboration agreement payment									$ 6,000,000
Additional payments made under collaborative arrangements											$ 2,000,000
Research and development expenses			$ 1,000,000	$ 1,000,000
Collaboration agreement period							2 years
Collaboration agreement, additional period							3 years
Payments made under collaborative arrangements										$ 11,000,000
Aurigene Discovery Technologies, Ltd. [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement period							5 years
Percentage of contribution			50.00%				50.00%			50.00%
Aurigene Discovery Technologies, Ltd. [Member] | Program Thereafter [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Additional payments made under collaborative arrangements			$ 0				$ 0			$ 0
Collaboration agreement expenses, approval and commercial milestones	$ 53,000,000
Aurigene Discovery Technologies, Ltd. [Member] | Program Thereafter [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program	140,500,000
Aurigene Discovery Technologies, Ltd. [Member] | PD-1/VISTA Programs [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment									3,000,000
Collaboration agreement expenses, option exercise	3,000,000
Collaboration agreement expenses, acceptance of IND filing	3,000,000		3,000,000
Collaboration agreement expenses, dosing of fifth patient	4,000,000
Aurigene Discovery Technologies, Ltd. [Member] | PD-1/VISTA Programs [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program	52,500,000
Aurigene Discovery Technologies, Ltd. [Member] | IRAK4 Programs [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment									$ 3,000,000
Collaboration agreement expenses, option exercise	3,000,000
Collaboration agreement expenses, acceptance of IND filing	3,000,000
Collaboration agreement expenses, dosing of fifth patient	4,000,000
Aurigene Discovery Technologies, Ltd. [Member] | IRAK4 Programs [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program	52,500,000
Aurigene Discovery Technologies, Ltd. [Member] | Program Three [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, option exercise	3,000,000
Collaboration agreement expenses, acceptance of IND filing	2,500,000
Payments made under collaborative arrangements										2,000,000
Collaboration agreement expenses, program selection fee	2,000,000
Aurigene Discovery Technologies, Ltd. [Member] | Program Three [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program	50,000,000
Aurigene Discovery Technologies, Ltd. [Member] | Program Four [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement expenses, option exercise	3,000,000
Collaboration agreement expenses, acceptance of IND filing	2,500,000
Collaboration agreement expenses, program selection fee	2,000,000
Aurigene Discovery Technologies, Ltd. [Member] | Program Four [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement payment per program	$ 50,000,000
Genentech Inc [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Amount received for specified clinical development and regulatory objectives			59,000,000				$ 59,000,000			59,000,000
Percentage of royalty rate decrease					2.00%		2.00%
Recognized royalty revenue			1,842,000			2,034,000	$ 3,586,000	3,705,000
Cost of royalty revenues			$ 95,000			$ 103,000	$ 184,000	$ 187,000
Percentage of royalties earned			5.00%			5.00%	5.00%	5.00%
Genentech Inc [Member] | Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Collaboration agreement, cash payment			$ 115,000,000				$ 115,000,000			$ 115,000,000
Percentage of royalty on net sales							7.50%
Genentech Inc [Member] | Minimum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of royalty on net sales							5.00%
Genentech Inc [Member] | Drug Development Royalty [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and development revenue			56,000			$ 84,000	$ 109,000	$ 140,000
Research and development expenses			$ 218,000			$ 46,000	$ 289,000	$ 114,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets or Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value Measurements Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	$ 60,731	$ 80,517
Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	7,313	13,568
Corporate commercial paper, bonds and notes	390	9,999
Municipal bonds		7,850
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	14,782	18,213
Quoted Prices in Active Markets (Level 1) [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	7,313	13,568
Corporate commercial paper, bonds and notes		2,001
Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value	45,949	62,304
Other Observable Inputs (Level 2) [Member] | Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, bonds and notes	390	7,998
Municipal bonds		7,850
Short-term Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, bonds and notes	53,028	49,100
Short-term Investments [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, bonds and notes	7,469	2,644
Short-term Investments [Member] | Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate commercial paper, bonds and notes	$ 45,559	$ 46,456

Investments - Summary of Amorti

Investments - Summary of Amortized Cost, Unrealized Gains and Losses and Fair Value of Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 52,971	$ 49,072
Unrealized Gain	66	44
Unrealized Loss	(9)	(16)
Total Fair Value	53,028	49,100
Corporate Bonds and Notes [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	52,971	49,072
Unrealized Gain	66	44
Unrealized Loss	(9)	(16)
Total Fair Value	$ 53,028	$ 49,100

Investments - Additional Inform

Investments - Additional Information (Detail) - Short-term Investments [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities weighted average maturity	3 years 9 months 22 days	4 months 6 days
Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities maturity period range	1 month	1 month
Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities maturity period range	12 months	12 months

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2012
Debt Instrument [Line Items]
Payment towards debt obligations			$ 2,141,000	$ 1,677,000
Current portion of long-term debt, net	$ 5,429,000		5,429,000		$ 4,607,000
Long-term debt, net	16,539,000		16,539,000		19,558,000
Interest expense recognized related to loan	729,000	$ 843,000	1,468,000	1,710,000
Credit Agreement with BioPharma-II [Member]
Debt Instrument [Line Items]
Payment towards debt obligations			3,585,000	3,356,000
Credit Agreement with BioPharma-II [Member] | Short-term Debt [Member]
Debt Instrument [Line Items]
Debt issue costs	48,000		48,000		12,000
Credit Agreement with BioPharma-II [Member] | Long-term Debt [Member]
Debt Instrument [Line Items]
Debt issue costs	94,000		94,000		73,000
Principal Portion [Member] | Credit Agreement with BioPharma-II [Member]
Debt Instrument [Line Items]
Payment towards debt obligations			2,141,000	1,677,000
BioPharma-II [Member]
Debt Instrument [Line Items]
Interest expense recognized related to loan	$ 729,000	$ 843,000	$ 1,468,000	$ 1,710,000
Curis Royalty [Member] | Credit Agreement with BioPharma-II [Member]
Debt Instrument [Line Items]
Principal loan amount to Curis Royalty given by BioPharma under credit agreement						$ 30,000,000
Interest rate on loan to Curis Royalty given by BioPharma under credit agreement						12.25%
Percentage of loan that may be prepaid after January 01, 2017	105.00%		105.00%
Current portion of long-term debt, net	$ 5,429,000		$ 5,429,000		4,607,000
Long-term debt, net	$ 16,539,000		16,539,000		19,558,000
Accrued interest on loan amount to Curis Royalty given by BioPharma under credit agreement			$ 252,000		$ 252,000

Accrued Liabilities - Accrued L

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Accrued compensation	$ 1,237	$ 1,310
Professional fees	297	123
Accrued interest on debt	252	252
Other	226	249
Total	$ 2,012	$ 1,934

Accounting for Stock-Based Co32

Accounting for Stock-Based Compensation - Additional Information (Detail)	Mar. 29, 2016$ / sharesshares	Jun. 30, 2016USD ($)shares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Plans$ / sharesshares	Jun. 30, 2015USD ($)$ / shares
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share-based compensation, number of plans | Plans				2
Stock options outstanding | shares		16,196,884		16,196,884
Aggregate intrinsic value of employee options outstanding		$ 836,000		$ 836,000
Intrinsic value of exercisable options		726,000		$ 726,000
Weighted average grant-date fair values of stock options | $ / shares				$ 1.07	$ 1.71
Unrecognized compensation cost, net of estimated forfeitures		7,636,000		$ 7,636,000
Intrinsic values of employee stock options exercised				159,000	$ 75,000
Fair values of vested stock options				2,194,000	1,529,000
Non-employee compensation expenses				99,000
Non-employee compensation expense, recognized expenses		14,000	$ 128,000		248,000
James E. Dentzer [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock options granted | shares	1,700,000
Stock option granted, per share | $ / shares	$ 1.51
Tranche One [Member] | James E. Dentzer [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of vested shares which are exercisable under stock option	25.00%
Tranche Two [Member] | James E. Dentzer [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of vested shares which are exercisable under stock option	6.25%
Stock Options Outstanding [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Compensation expense related to employee and director stock option grants		$ 894,000	$ 895,000	$ 1,779,000	$ 1,726,000
2010 Plan [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Options granted | shares				2,400,225
Share based compensation arrangement vesting period, years				4 years
2010 Plan [Member] | Non-Employee Directors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Options granted | shares				470,000
Stock option granted, per share | $ / shares				$ 1.76
Share based compensation, vesting period of 470000 options				1 year
Unrecognized compensation cost, weighted average period for recognition, years				2 years 9 months
2010 Plan [Member] | Tranche One [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of vested shares which are exercisable under stock option				25.00%
2010 Plan [Member] | Tranche Two [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of vested shares which are exercisable under stock option				6.25%

Accounting for Stock-Based Co33

Accounting for Stock-Based Compensation - Valuation Assumptions Used to Calculate Fair Value of Employee Options Awarded (Detail)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Risk-free interest rate, minimum	1.40%	1.50%
Risk-free interest rate, maximum	1.80%	1.90%
Volatility, minimum	69.00%	68.00%
Volatility, maximum	70.00%	70.00%
Dividends	0.00%	0.00%
Employees [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expected life (years)	6 years	6 years
Officers and Directors [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expected life (years)	7 years	7 years

Accounting for Stock-Based Co34

Accounting for Stock-Based Compensation - Summary of Share Based Compensation Expense Allocation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	$ 908	$ 1,023	$ 1,680	$ 1,974
Research and Development Expenses [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	204	314	326	602
General and Administrative Expenses [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total stock-based compensation expense	$ 704	$ 709	$ 1,354	$ 1,372

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income gain (loss), net of tax, Beginning balance	$ 64,510
Accumulated other comprehensive income gain (loss), net of tax, Ending balance	46,187
Accumulated Net Unrealized Investment Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income gain (loss), net of tax, Beginning balance	28	$ (11)
Unrealized gain on marketable securities	29	9
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Net current period other comprehensive income	29	9
Accumulated other comprehensive income gain (loss), net of tax, Ending balance	$ 57	$ (2)

Loss Per Common Share - Additio

Loss Per Common Share - Additional Information (Detail) - shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Stock Options Outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	16,196,884	13,552,649

Related Party Transactions - Co

Related Party Transactions - Consulting agreement with Daniel R. Passeri - Additional Information (Detail) - Mr. Passeri [Member] - USD ($) $ in Thousands	Jun. 02, 2014	Jun. 30, 2016	Jun. 30, 2015	May 31, 2016	Jun. 30, 2016	Jun. 30, 2015
Related Party Transaction [Line Items]
Consulting agreement date	Jun. 2, 2014
Consulting agreement term	1 year
Consulting agreement end date	May 31, 2016
Consulting fees per month				$ 30
Consulting agreement, recognized expenses		$ 60	$ 12		$ 150	$ 17