Curis Announces Pricing of Public Offering of Common Stock
September 14 2017 - 7:00AM
Curis, Inc. (NASDAQ:CRIS), a biotechnology company, today announced
the pricing of an underwritten public offering of 20,000,000 shares
of its common stock (the “Offering”). The Offering is expected to
close on or about September 18, 2017, subject to customary closing
conditions.
Robert W. Baird & Co. Incorporated (“Baird”) is acting as
the sole underwriter for the Offering. Curis has granted Baird a
30-day option to purchase up to an additional 3,000,000 shares of
common stock sold in the Offering, on the same terms and
conditions.
Curis intends to use the net proceeds from the Offering,
together with its existing cash and investments, to continue
development of CUDC-907, as well as CA-170, CA-327 and CA-4948 in
collaboration with Aurigene Discovery Technologies Limited
(“Aurigene”), and any additional product candidates for which it
exercises its option to exclusively in-license from Aurigene, to
fund potential acquisitions of new business, technologies or
products that it believes will complement or expand its business,
and for general working capital and capital expenditures.
The securities in the Offering are being offered pursuant to a
shelf registration statement on Form S-3 (File No. 333-205460) that
was filed with the United States Securities and Exchange Commission
(“SEC”) on July 2, 2015, and declared effective by the SEC on
September 2, 2015. A final prospectus supplement and
accompanying prospectus relating to the Offering will be filed with
the SEC and will be available on the SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus, when available, may also be obtained by
contacting Robert W. Baird & Co. Incorporated,
Attn: Syndicate Department, 777 East Wisconsin
Avenue, Milwaukee, Wisconsin 53202, Telephone: (800)
792-2473, Email: syndicate@rwbaird.com.
The securities described above have not been qualified under any
state blue sky laws. 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.
About Curis
Curis is a biotechnology company focused on the development and
commercialization of innovative and effective drug candidates for
the treatment of human cancers, including CUDC-907, which is being
investigated in clinical studies in patients with lymphomas and
solid tumors. Curis is also engaged in a broad collaboration with
Aurigene in the areas of immuno-oncology and precision oncology. As
part of this collaboration, Curis has exclusive licenses to oral
small molecule antagonists of the PD1 and VISTA pathways, including
PDL1/VISTA antagonist CA-170, and oral small molecule antagonists
of the PD1 and TIM3 pathways, including PDL1/TIM3 antagonist
CA-327, as well as to molecules designed to inhibit the IRAK4
kinase, including CA-4948. CA-170 is currently undergoing
testing in a Phase 1 trial in patients with advanced solid tumors
and lymphomas. Curis is also party to a collaboration with
Genentech, a member of the Roche Group, under which Genentech and
Roche are commercializing Erivedge® for the treatment of advanced
basal cell carcinoma, and are further developing Erivedge in
myelofibrosis.
Forward-Looking Statements:
Any statements in this press release about future expectations,
plans and prospects for Curis, Inc., including statements
about the anticipated closings of Curis’s public offering and
side-by-side private placement, anticipated use of proceeds from
the Offering, and plans and prospects for Curis and other
statements containing the words "anticipate," "believe,"
"estimate," "expect," "intend," "may," "plan," "predict,"
"project," "target," "potential," "will," "would," "could,"
"should," "continue," and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: the
uncertainties related to market conditions and the completion of
the public offering and side-by-side private placement on the
anticipated terms or at all, uncertainties inherent in the
initiation of future clinical trials and such other factors as are
set forth in the risk factors detailed in Curis’s Annual Report on
Form 10-K for the year ended December 31, 2016 filed with
the SEC on March 9, 2017 under the heading "Risk Factors"
and in other filings that Curis periodically makes with the
SEC. In addition, the forward-looking statements included in this
press release represent Curis’s views as of the date hereof. Curis
anticipates that subsequent events and developments will cause
Curis’s views to change. However, while Curis may elect to update
these forward-looking statements at some point in the future, Curis
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Curis’s views as of any date subsequent to the date
hereof.
For More Information:
James E. Dentzer
Chief Financial Officer & Chief Administrative Officer
Curis, Inc.
(617) 503-6500
jdentzer@curis.com
Media Contact
David Schull
Russo Partners
(212) 845-4271
Curis (NASDAQ:CRIS)
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