CURIS INC — Director's Dealing 2009

Feb 13, 2009

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CURIS INC (CRIS)
CIK: 0001108205
Period of Report: 2009-02-03

Reporting Person: BVF PARTNERS L P/IL (10% Owner, Indirect Beneficial Owners)
Reporting Person: BIOTECHNOLOGY VALUE FUND L P (10% Owner, Indirect Beneficial Owners)
Reporting Person: BIOTECHNOLOGY VALUE FUND II LP (10% Owner, Indirect Beneficial Owners)
Reporting Person: BVF INVESTMENTS LLC (10% Owner, Indirect Beneficial Owners)
Reporting Person: BVF INC/IL (10% Owner, Indirect Beneficial Owners)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2123699	Direct
Common Stock	1461681	Direct
Common Stock	5336336	Direct
Common Stock	8921716	Indirect
Common Stock	8921716	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrants (right to purchase Common Stock)	$1.02	2012-08-06	Common Stock, par value, $0.001 per share (150759)		Direct
Warrants (right to purchase Common Stock)	$1.02	2012-08-06	Common Stock, par value, $0.001 per share (103051)		Direct
Warrants (right to purchase Common Stock)	$1.02	2012-08-06	Common Stock, par value, $0.001 per share (359887)		Direct
Warrants (right to purchase Common Stock)	$1.02	2012-08-06	Common Stock, par value, $0.001 per share (613697)		Indirect
Warrants (right to purchase Common Stock)	$1.02	2012-08-06	Common Stock, par value, $0.001 per share (613697)		Indirect

Footnotes

F1: The shares of Common Stock, Warrants and the shares of Common Stock underlying the Warrants are directly beneficially owned
by Biotechnology Value Fund, L.P. ("BVF"), a Delaware limited partnership.

F2: The shares of Common Stock, Warrants and the shares of Common Stock underlying the Warrants are directly beneficially owned
by Biotechnology Value Fund, II, L.P. ("BVF2"), a Delaware limited partnership.

F3: The shares of Common Stock, Warrants and the shares of Common Stock underlying the Warrants are directly beneficially owned
by BVF Investments, LLC ("BVLLC"), a Delaware limited liability company.

F4: The shares of Common Stock, Warrants and the shares of Common Stock underlying the Warrants are indirectly beneficially owned
by BVF Partners, L.P., a Delaware limited partnership ("Partners"). Partners is the general partner of BVF and BVF2 and is
the manager of BVLLC.

F5: The shares of Common Stock, Warrants and the shares of Common Stock underlying the Warrants are indirectly beneficially owned
by BVF Inc., a Delaware corporation ("BVF Inc."), which is the general partner of Partners and is also an investment advisor
to Partners.

F6: Pursuant to the operating agreement of BVLLC, Partners is authorized, among other things to invest funds of Samana Capital,
L.P., the majority member of BVLLC, in the shares of Common Stock described herein and to vote and exercise dispositive
power over those securities. Mark N. Lampert is the sole shareholder and sole director BVF Inc., and is an officer of BVF
Inc. This joint filing on Form 3 shall not be deemed an admission that Mark N. Lampert is, for purposes of Section 16 of
the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities covered by this joint
filing. Mr. Lampert disclaims beneficial ownership of all securities reported in this joint filing on Form 3, except to the
extent that he has a pecuniary interest therein.