LEXINGTON, Mass. , Oct. 29, 2024 /PRNewswire/ -- Curis, Inc.
("Curis") (NASDAQ: CRIS ), a biotechnology company focused on the development of emavusertib (CA-4948), an orally available, small molecule IRAK4 inhibitor, today announced that it has entered into a definitive agreement with a combination of existing and new investors for the purchase of 2,398,414 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 warrants to purchase up to an aggregate of 2,398,414 shares of common stock. The unregistered warrants to be issued in the concurrent private placement will have an exercise price of $4.
92 per share of common stock, will be exercisable immediately and will expire five years following the issuance date. The combined purchase price for one share of common stock and the associated unregistered warrant is $5.045 .
Gross proceeds to Curis from the offering are expected to be approximately $12.1 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 October 30, 2024 , subject to the satisfaction of customary closing conditions.