Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
GRAY MICHAEL
  2. Issuer Name and Ticker or Trading Symbol
CURIS INC [CRIS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
(Last)
(First)
(Middle)
61 MOULTON STREET
3. Date of Earliest Transaction (Month/Day/Year)
06/06/2007
(Street)

CAMBRIDGE, MA 02138
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Qualified stock option (right to buy) $ 1.39 06/06/2007   A   56,250     (1) 06/06/2017 Common stock 56,250 $ 0 56,250 D  
Non-qualified stock option (right to buy) $ 1.39 06/06/2007   A   93,750     (1) 06/06/2017 Common stock 93,750 $ 0 93,750 D  
Qualified stock option (right to buy) $ 1.39 06/06/2007   A   71,942     (2) 06/06/2017 Common stock 71,942 $ 0 71,942 D  
Non-qualified stock option (right to buy) $ 1.39 06/06/2007   A   78,058     (2) 06/06/2017 Common stock 78,058 $ 0 78,058 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
GRAY MICHAEL
61 MOULTON STREET
CAMBRIDGE, MA 02138
      Chief Financial Officer  

Signatures

 /s/ Michael P. Gray   06/08/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Options in the aggregate will vest 25% on the one-year anniversary grant date, or June 6, 2008. Remaining options will vest at 6.25% each successive three-month period, with non-qualified options vesting first. Options will be fully vested four years from the grant date.
(2) Common stock subject to stock option award shall become exercisable on December 6, 2012 or upon the consummation of a collaboration, licensing or other similar agreement regarding the Targeted Cancer Drug Development Platform that includes an up-front cash payment of at least $10 million. For clarity, the cash payment shall be attributable to a nonrefundable license fee or other similar payment and shall not include an equity investment in Curis and any vesting is subject to such Executive Officer's continued service with the Curis.

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