LEXINGTON, Mass., Dec. 9, 2020 /PRNewswire/ -- Curis, Inc.
(NASDAQ:CRIS), a biotechnology company focused on the
development of innovative therapeutics for the treatment of cancer,
today announced the pricing of an underwritten public offering of
25,652,174 shares of its common stock at a public offering price of
$5.75 per share for total gross
proceeds of approximately $147.5
million (the "Offering"). Curis has granted the underwriters
a 30-day option to purchase up to an additional 3,847,826 shares of
common stock on the same terms and conditions. The Offering is
expected to close on or about December 11,
2020, subject to customary closing conditions.
Cantor Fitzgerald & Co. and JonesTrading Institutional
Services LLC are acting as joint book-runners for the Offering.
H.C. Wainwright & Co., LLC and Laidlaw & Company (UK)
Ltd. are acting as co-lead managers for the Offering.
Curis intends to use the net proceeds from the 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 Offering 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
and an additional registration statement on Form S-3 (File No.
333-224627) filed pursuant to Rule 462(b) which became
automatically effective on December
9, 2020. 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 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's 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 closing of the Offering,
anticipated use of proceeds from the Offering, 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 market and other conditions, the satisfaction of
customary closing conditions related to the Offering and the impact
of general economic, industry or political conditions in the
United States or internationally. You should not place undue
reliance on these forward-looking statements. Additional risks and
uncertainties relating to the 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 prospectus supplement to be filed with the SEC,
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.