On October 16, 2026 Curis, Inc. (Nasdaq: CRIS) ("Curis" or the "Company"), a biotechnology company focused on the development of emavusertib (CA-4948), an orally available, small molecule IRAK4 and FLT3 inhibitor, reported that it has entered into securities purchase agreements with certain existing healthcare focused institutional investors for the purchase and sale of 16,666,680 shares of common stock (or pre-funded warrants to purchase shares of common stock in lieu thereof) and common warrants to purchase up to 16,666,680 shares of common stock at an effective combined price of $0.51 per share (or pre-funded warrant) and accompanying common warrant (the "Offering"). The common warrants have an exercise price of $0.60 per share, will be exercisable six months following their issuance and will expire five and a half years from the issuance date. The pre-funded warrants have an exercise price of $0.01 per share and will be exercisable immediately until exercised in full.
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The Company also has agreed that certain existing January 2026 warrants to purchase up to 1,126,676 shares of common stock at an exercise price of $15.00 per share and all of the August 2026 warrants to purchase up to 3,733,334 shares of common stock at an exercise price of $1.75 per share will be amended such that the existing January 2026 and August 2026 warrants will have a reduced exercise price of $0.60 per share.
The gross proceeds from the Offering are expected to be approximately $8.5 million, before deducting placement agents fees and other Offering expenses. The Company intends to use the net proceeds of this Offering to fund its research and development activities and for working capital and general corporate purposes. Proceeds from the Offering are expected to be sufficient to fund operations through the Company’s initial Chronic Lymphocytic Leukemia (CLL) data in 5-10 patients in December 2026. The Offering is expected to close on or about October 19, 2026, subject to market conditions and the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as the lead placement agent and Laidlaw & Company (UK) Ltd. is acting as co-placement agent in connection with the Offering.
The offer and sale of the foregoing securities is being made in reliance on an exemption from the registration requirement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act") and applicable state securities laws, and the securities have not been and will not initially be registered under the Securities Act, or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. Pursuant to the terms of the registration rights agreement entered into with the investors, the Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the "SEC") covering the resale of the shares of common stock and the shares of common stock underlying the pre-funded warrants and common warrants sold in the Offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
(Press release, Curis, OCT 16, 2026, View Source,-Inc-Announces-Pricing-of-8-5-Million-Private-Placement-Priced-At-the-Market-Under-Nasdaq-Rules-with-Existing-Healthcare-Focused-Institutional-Investors [SID1234673520])