Curis, Inc. Secures $7 Million Through Direct Offering and Private Placement
On July 2, 2025, Curis, Inc. (NASDAQ: CRIS), a biotechnology firm specializing in innovative treatments, announced a significant financial milestone. The company entered into a definitive agreement to secure $7.0 million through a registered direct offering and a concurrent private placement. This funding is particularly aimed at enhancing the research and development of emavusertib (CA-4948), an oral small molecule IRAK4 inhibitor that's currently under study for its potential efficacy in treating hematologic malignancies.
Details of the Offering
Curis has agreed to sell a total of 1,538,460 shares of its common stock as part of this registered direct offering, priced conformably with the prevailing market conditions as per Nasdaq guidelines. In conjunction, the company is issuing additional unregistered securities in a private placement, which includes pre-funded warrants allowing investors to purchase an aggregate of 1,538,461 shares at a nominal exercise price of $0.01 per share.
Moreover, Curis is offering unregistered warrants that can be exercised for 3,076,921 shares at an exercise price of $2.15 per share, valid for up to five years post-issuance. Each share may be combined with a common warrant, priced at $2.275, while the combined price for a pre-funded warrant with a common warrant is $2.265.
This transaction is projected to generate approximately $7 million in gross proceeds for Curis, earmarked for ongoing research, development activities, and general corporate necessities.
Use of Proceeds
The proceeds from this financing will bolster Curis's commitment to advancing emavusertib in pivotal clinical trials, targeting patients with relapsed or refractory cancers. Currently, this promising asset is undergoing evaluations in the TakeAim Lymphoma Phase 1/2 study, focusing on primary central nervous system lymphoma (PCNSL), in combination with the BTK inhibitor ibrutinib.
Furthermore, emavusertib is being assessed in a monotherapy capacity within the TakeAim Leukemia Phase 1/2 study for acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (hrMDS). Moreover, it is being explored as a frontline combination therapy with venetoclax and azacitidine for AML patients.
The potential of emavusertib has not gone unnoticed, as it has received orphan drug designations from the FDA for PCNSL, AML, and MDS, indicating its promise in treating these serious conditions.
Closing and Agents
Curis plans to finalize the offerings around July 3, 2025, pending the satisfaction of customary closing conditions. The company enlisted Laidlaw & Company (U.K.) Ltd. and JonesTrading Institutional Services LLC as placement agents for these transactions.
Regulatory Considerations
The shares being offered in this registered direct offering are compliant with a previously filed shelf registration statement with the SEC, which became effective on April 12, 2024. Notably, the unregistered warrants are being offered under exemptions per the Securities Act of 1933, highlighting the strategic management of capital while ensuring compliance with federal securities laws.
About Curis, Inc.
Curis, Inc. is dedicated to the advancement of targeted cancer therapies. In addition to emavusertib, the company possesses exclusive licensing rights from Aurigene Discovery Technologies Limited. Curis also continues its partnership with Genentech to commercialize Erivedge®, a treatment for advanced basal cell carcinoma. By aligning financial strategies with innovative research, Curis remains steadfast in its mission to combat severe diseases and improve patient outcomes.
Looking Forward
As Curis moves forward with these financial arrangements, the biotechnology space eagerly watches its developments. With ambitious drug candidates in its pipeline and solid financial backing, the company's commitment to addressing critical oncology needs positions it well for future success in the competitive landscape of biopharmaceuticals.
Details of the Offering
Curis has agreed to sell a total of 1,538,460 shares of its common stock as part of this registered direct offering, priced conformably with the prevailing market conditions as per Nasdaq guidelines. In conjunction, the company is issuing additional unregistered securities in a private placement, which includes pre-funded warrants allowing investors to purchase an aggregate of 1,538,461 shares at a nominal exercise price of $0.01 per share.
Moreover, Curis is offering unregistered warrants that can be exercised for 3,076,921 shares at an exercise price of $2.15 per share, valid for up to five years post-issuance. Each share may be combined with a common warrant, priced at $2.275, while the combined price for a pre-funded warrant with a common warrant is $2.265.
This transaction is projected to generate approximately $7 million in gross proceeds for Curis, earmarked for ongoing research, development activities, and general corporate necessities.
Use of Proceeds
The proceeds from this financing will bolster Curis's commitment to advancing emavusertib in pivotal clinical trials, targeting patients with relapsed or refractory cancers. Currently, this promising asset is undergoing evaluations in the TakeAim Lymphoma Phase 1/2 study, focusing on primary central nervous system lymphoma (PCNSL), in combination with the BTK inhibitor ibrutinib.
Furthermore, emavusertib is being assessed in a monotherapy capacity within the TakeAim Leukemia Phase 1/2 study for acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (hrMDS). Moreover, it is being explored as a frontline combination therapy with venetoclax and azacitidine for AML patients.
The potential of emavusertib has not gone unnoticed, as it has received orphan drug designations from the FDA for PCNSL, AML, and MDS, indicating its promise in treating these serious conditions.
Closing and Agents
Curis plans to finalize the offerings around July 3, 2025, pending the satisfaction of customary closing conditions. The company enlisted Laidlaw & Company (U.K.) Ltd. and JonesTrading Institutional Services LLC as placement agents for these transactions.
Regulatory Considerations
The shares being offered in this registered direct offering are compliant with a previously filed shelf registration statement with the SEC, which became effective on April 12, 2024. Notably, the unregistered warrants are being offered under exemptions per the Securities Act of 1933, highlighting the strategic management of capital while ensuring compliance with federal securities laws.
About Curis, Inc.
Curis, Inc. is dedicated to the advancement of targeted cancer therapies. In addition to emavusertib, the company possesses exclusive licensing rights from Aurigene Discovery Technologies Limited. Curis also continues its partnership with Genentech to commercialize Erivedge®, a treatment for advanced basal cell carcinoma. By aligning financial strategies with innovative research, Curis remains steadfast in its mission to combat severe diseases and improve patient outcomes.
Looking Forward
As Curis moves forward with these financial arrangements, the biotechnology space eagerly watches its developments. With ambitious drug candidates in its pipeline and solid financial backing, the company's commitment to addressing critical oncology needs positions it well for future success in the competitive landscape of biopharmaceuticals.
Topics Health）
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