Curis, Inc. (Nasdaq: CRIS) announced on October 16, 2026, the execution of a Securities Purchase Agreement. Under this agreement, the company agreed to sell 16,666,680 shares of its common stock, par value $0.01 per share, or pre-funded warrants to purchase shares in lieu thereof. The company also agreed to issue common warrants to purchase up to 16,666,680 shares of common stock.
The offering is structured with an effective combined price of $0.51 per share, or $0.50 per pre-funded warrant. The common warrants carry an exercise price of $0.60 per share and will become exercisable six months following issuance. They are set to expire on April 19, 2032. Conversely, the pre-funded warrants have an exercise price of $0.01 per share and are exercisable immediately until fully exercised.
The gross proceeds from the transaction are expected to be approximately $8.5 million, before deducting placement agent fees and offering expenses. The company intends to use the net proceeds to fund research and development activities, working capital, and general corporate purposes. Specifically, the proceeds are expected to be sufficient to fund operations through the company's initial Chronic Lymphocytic Leukemia (CLL) data in 5-10 patients in December 2026.
The closing of the offering is expected to occur on or about October 19, 2026, subject to market conditions and customary closing conditions. A.G.P./Alliance Global Partners is serving as the lead placement agent, with Laidlaw & Company (UK) Ltd. acting as co-placement agent.
In addition to the new offering, the company disclosed amendments to existing warrants. The company agreed to amend certain Series A Common Stock Purchase Warrants (issued on January 8, 2026) and Series C Common Stock Purchase Warrants (issued on August 13, 2026). These amendments will reduce the exercise price of these warrants to $0.60 per share.
