Business
Curis Announces $17.5 Million Registered Direct Offering
LEXINGTON, Mass., June 11, 2020 /PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of innovative therapeutics for
About this update from Curis, Inc.
[{"type":"text","content":"LEXINGTON, Mass., June 11, 2020 /PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer, today announced that it has entered into definitive agreements with fundamental healthcare investors for the purchase and sale of 14,000,000 of its shares of common stock at a purchase price of $1.25 per share in a registered direct offering. The closing of the offering is expected to occur on or about June 15, 2020, subject to the satisfaction of customary closing conditions. \n\n \n \n \n \n \n \n\n \nJonesTrading Institutional Services LLC (\"JonesTrading\") is acting as the exclusive placement agent for the offering.\nThe gross proceeds to the Company from the offering are expected to be $17.5 million, before deducting the placement agent's fees and other offering expenses payable by Curis. \nCuris intends to use the net proceeds from the public offering, together with its existing cash, cash equivalents and investments, to continue development of CA-4948 and CI-8893, and for general working capital and capital expenditures.\nThe shares are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-224627) that was filed with the United States Securities and Exchange Commission (\"SEC\") on May 3, 2018, and declared effective by the SEC on May 17, 2018. A prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. The 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 JonesTrading Institutional Services LLC by calling (212) 907-5332, or by e-mailing [email protected]. \nThis 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. \nAbout Curis\nCuris is a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer....