Curis prices $8.5M private placement at $0.51 per share

Curis, Inc. (Nasdaq: CRIS), a Lexington, Mass.-based biotechnology company, announced it has entered into securities purchase agreements with existing healthcare-focused institutional investors for a private placement expected to raise approximately $8.5 million in gross proceeds, before placement agent fees and other expenses.

The offering includes 16,666,680 shares of common stock, or pre-funded warrants in lieu thereof, along with common warrants to purchase up to 16,666,680 additional shares. The combined price is $0.51 per share and accompanying common warrant. The common warrants carry an exercise price of $0.60 per share, become exercisable six months after issuance, and expire five and a half years from the issuance date. Pre-funded warrants have an exercise price of $0.01 per share and are exercisable immediately.

As part of the transaction, Curis agreed to reduce the exercise price of certain existing January 2026 warrants, covering up to 1,126,676 shares at $15.00 per share, and August 2026 warrants, covering up to 3,733,334 shares at $1.75 per share, to $0.60 per share.

The company stated that net proceeds are intended to fund research and development activities, working capital, and general corporate purposes. Curis said the proceeds are expected to be sufficient to fund operations through initial Chronic Lymphocytic Leukemia data in five to ten patients in December 2026. The offering is expected to close on or about October 19, 2026.

A.G.P./Alliance Global Partners is acting as lead placement agent, with Laidlaw & Company (UK) Ltd. serving as co-placement agent.

The securities are being offered under an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933. Curis said it has agreed to file a registration statement with the SEC covering the resale of the shares.

According to the press release, Curis does not currently have sufficient cash on hand to support operations within the next 12 months.

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