On July 2, 2025 Curis, Inc. ("Curis") (NASDAQ: CRIS), a biotechnology company focused on the development of emavusertib (CA-4948), an orally available, small molecule IRAK4 inhibitor, reported that it has entered into a definitive agreement with a combination of existing and new investors for the purchase of 1,538,460 shares ("Shares") of its common stock in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, Curis also agreed to issue to the investors in the registered direct offering unregistered pre-funded warrants to purchase up to an aggregate of 1,538,461 shares of Common Stock ("Pre-Funded Warrants") at an exercise price of $0.01 per share and unregistered warrants to purchase up to an aggregate of 3,076,921 shares of Common Stock ("Common Warrants" and together with the Pre-Funded Warrants, the "Unregistered Warrants") at an exercise price of $2.15 per share (Press release, Curis, JUL 2, 2025, View Source [SID1234654214]). The Pre-Funded Warrants will be exercisable immediately and will be exercisable until exercised in full. The Common Warrants will be exercisable immediately and will be exercisable for five years following the date of issuance. 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.

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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. Curis intends to use the net proceeds from the offering on research, development, working capital, and other general corporate purposes.

The registered direct offering and concurrent private placement are each expected to close on or about July 3, 2025, subject to the satisfaction of customary closing conditions.

Laidlaw & Company (U.K.) Ltd. and Jones are acting as placement agents for the registered direct offering and the concurrent private placement.

The Shares of common stock offered in the registered direct offering (but excluding the Unregistered Warrants to be issued in the concurrent private placement and shares of common stock underlying the Unregistered Warrants) are being offered by Curis pursuant to a shelf registration statement on Form S-3 (File No. 333-276950) that was filed with the U.S. Securities and Exchange Commission ("SEC") on February 8, 2024 and declared effective by the SEC on April 12, 2024. A prospectus supplement relating to and describing the terms of the registered direct offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. The registered direct offering is being made only by means of a prospectus and related prospectus supplement. When available, electronic copies of the prospectus supplement and the accompanying prospectus may also be obtained from Laidlaw & Company (U.K.) Ltd., 521 Fifth Avenue, 12th Floor, New York, NY 10175, Attention: Syndicate Dept., e-mail: [email protected]; or JonesTrading Institutional Services LLC, Attention: Equity Capital Markets, 325 Hudson Street, 6th Floor New York, New York 10013; email: [email protected].

The Unregistered Warrants are being offered in the concurrent private placement pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), provided in Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying such Unregistered Warrants, have not been registered under the Securities Act or applicable state securities laws. Curis has agreed to file a resale registration statement with the SEC covering the resale of the shares of common stock underlying the Unregistered Warrants.

This press release shall not constitute an offer to sell or the 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.