LEXINGTON, Mass., Dec. 8, 2020 /PRNewswire/ -- Curis, Inc. (NASDAQ:
CRIS), a biotechnology company focused on the development of
innovative therapeutics for the treatment of cancer, today
announced its intention to offer and sell shares of its common
stock in an underwritten public offering pursuant to an existing
shelf registration statement. Curis intends to grant the
underwriters a 30-day option to purchase additional shares in an
amount of up to 15% of the shares sold in the public offering, on
the same terms and conditions.
Cantor Fitzgerald & Co. and JonesTrading Institutional
Services LLC are acting as joint lead book runners.
Curis intends to use the net proceeds from the public offering,
together with its existing cash and cash equivalents, to continue
development of CA-4948, in collaboration with Aurigene, and
CI-8893, in collaboration with ImmuNext, and for general working
capital and capital expenditures.
The securities in the public offering described above 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. The offering can
be made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary 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
preliminary prospectus supplement and the accompanying prospectus
may also be obtained by contacting Cantor Fitzgerald &
Co., Attention: Capital Markets, 499 Park Ave., 6th
Floor, New York, New York 10022 or
by email at prospectus@cantor.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, Inc.
Curis is a biotechnology company focused on the development of
innovative therapeutics for the treatment of cancer. In 2015, Curis
entered into a 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 immune checkpoints including the VISTA/PDL1
antagonist CA-170, and the TIM3/PDL1 antagonist CA-327, as well as
the IRAK4 kinase inhibitor, CA-4948. CA-4948 is currently
undergoing testing in a Phase 1 trial in patients with non-Hodgkin
lymphoma and in a Phase 1 trial in patients with acute myeloid
leukemia and myelodysplastic syndromes. In addition, Curis is
engaged in a collaboration with ImmuNext for development of
CI-8993, a monoclonal anti-VISTA antibody, which is currently
undergoing testing in a Phase 1a/1b trial in patients with
solid tumors. 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.
Forward-Looking Statements:
Any statements in this press release about future expectations,
plans and prospects for Curis, Inc., including statements
about Curis's anticipated public offering, anticipated use of
proceeds and plans and prospectus for Curis, and other statements
containing the words "anticipate," "believe," "estimate," "expect,"
"intend," "may," "plan," "predict," "project," "target,"
"potential," "will," "would," "could," "should,"
"continue," "seek," "strategy," 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. Factors that may cause such a
difference include, without limitation, risks and uncertainties
related to whether or not Curis will be able to raise capital
through the sale of shares of common stock, the final terms of the
proposed offering, market and other conditions, the satisfaction of
customary closing conditions related to the proposed public
offering and the impact of general economic, industry or political
conditions in the United States or internationally. There
can be no assurance that Curis will be able to complete the
proposed public offering on the anticipated terms, or at all. You
should not place undue reliance on these forward-looking
statements. Additional risks and uncertainties relating to the
proposed public offering, Curis and its business can be found under
the caption "Risk Factors" included in Curis's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2020, Curis's
preliminary prospectus supplement to be filed with the SEC on
December 8, 2020, 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.
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SOURCE Curis, Inc.