Curis Announces Pricing of Private Placement Totaling up to $80.8 Million in Gross Proceeds

Core Viewpoint - Curis, Inc. has announced a private placement financing (PIPE financing) to raise up to $80.8 million, aimed at supporting the development of its drug emavusertib, an IRAK4 and FLT3 inhibitor [1][5]. Group 1: Financing Details - The PIPE financing will provide initial gross proceeds of approximately $20.2 million, with the total expected to reach up to $80.8 million if all warrants are exercised [1][5]. - Laidlaw & Company (UK) Ltd. is acting as the sole placement agent for this financing [2]. - The financing involves the sale of 20,195 shares of Series B convertible non-redeemable preferred stock, along with various warrants to purchase common stock [3]. Group 2: Securities and Warrants - Each share of Series B Preferred Stock will convert into approximately 1,333 shares of common stock upon stockholder approval, with the associated warrants having an exercise price of $0.75 per share [4]. - The Series A Warrants will expire on January 8, 2031, while the Series B Warrants will terminate 30 days after the fifth patient is dosed in a specific clinical trial [4]. Group 3: Use of Proceeds - The company plans to utilize the net proceeds from the PIPE financing for research and development, general corporate expenses, and working capital needs [5]. Group 4: Company Overview - Curis, Inc. is focused on developing emavusertib, which is currently being evaluated in clinical trials for various types of lymphoma and leukemia [8][9]. - Emavusertib has received Orphan Drug Designation from the U.S. FDA for multiple conditions, indicating its potential significance in treating rare diseases [9].