Curis, Inc. Announces Registered Direct Offering and Concurrent Private Placement

Strategic Insights -

Curis, a biotechnology company, has entered into a definitive agreement with a combination of existing and new investors for the purchase of 1,538,460 shares of its common stock in a registered direct offering, priced at-the-market under Nasdaq rules. The company will also issue unregistered pre-funded warrants to purchase up to an aggregate of 1,538,461 shares of common stock, exercisable immediately, and unregistered warrants to purchase up to an aggregate of 3,076,921 shares of common stock, exercisable immediately and for five years following the date of issuance. The gross proceeds to Curis from the offering are expected to be approximately $7.0 million, before deducting the placement agents' fees and other offering expenses payable by Curis.

Key Takeaways:

  • The registered direct offering and concurrent private placement are expected to close on or about July 3, 2025, subject to the satisfaction of customary closing conditions.
  • The combined purchase price for one share and the associated common warrant is $2.275, and for one pre-funded warrant and the associated common warrant is $2.265.
  • Curis intends to use the net proceeds from the offering for research, development, working capital, and other general corporate purposes.
  • The company has the exclusive license to emavusertib (CA-4948), an orally available, small molecule IRAK4 inhibitor, through its 2015 collaboration with Aurigene Discovery Technologies Limited.
  • Emavusertib has received Orphan Drug Designation from the U.S. Food and Drug Administration for the treatment of PCNSL, AML, and MDS, and from the European Commission for the treatment of PCNSL.
  • Laidlaw & Company (U.K.) Ltd. and Jones are acting as placement agents for the registered direct offering and the concurrent private placement.

Statistics:

  • 1,538,460 shares of common stock will be purchased by investors in the registered direct offering.
  • Up to 1,538,461 pre-funded warrants to purchase shares of common stock will be issued in the concurrent private placement.
  • Up to 3,076,921 common warrants to purchase shares of common stock will be issued in the concurrent private placement.
  • The gross proceeds to Curis from the offering are expected to be approximately $7.0 million.
  • The combined purchase price for one share and the associated common warrant is $2.275.
  • The combined purchase price for one pre-funded warrant and the associated common warrant is $2.265.

Sources:

  • PRNewswire, "Curis, Inc. Enters into Definitive Agreement for Purchase of 1,538,460 Shares of Common Stock and Concurrent Private Placement of Unregistered Warrants to Purchase Up to an Aggregate of 4,615,382 Shares of Common Stock", July 2, 2025.
  • SEC, "Form S-3 Registration Statement", filed February 8, 2024, and declared effective April 12, 2024.
  • Curis, Inc., "Annual Report on Form 10-K for the year ended December 31, 2024".