LEXINGTON, Mass., Sept. 14, 2017 (GLOBE NEWSWIRE) -- 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 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 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.
