Curis to Raise a Total of $20.1 Million in Registered Direct Offering; Adds additional $6.9 million to earlier announced $13.2 million offering.CAMBRIDGE, Mass. -- Curis, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CRIS) announced that it has entered into additional subscription agreements to increase the size of its previously announced registered direct offering, from $13.2 million to $20.1 million. Pursuant to the terms of the subscription agreements for the offering, including the additional subscriptions it received today, at closing Curis will sell an aggregate of 5,476,559 shares of its common stock, together with warrants to purchase 0.10 shares of common stock for each share of common stock purchased, at $3.67 per share. The warrants, to purchase an aggregate of 547,656 additional shares of common stock, expire on October 12, 2009 and are exercisable at $4.59 per share. This sale is expected to provide net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $18.9 million to Curis. Leerink Swann & Company acted as sole placement agent for this transaction. The shares of common stock and warrants to purchase common stock offered by Curis in this transaction were registered under the Company's existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission on January 7, 2004. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Curis, Inc. Curis, Inc. is a therapeutic drug development company. The Company's technology focus is on regulatory pathways that control repair and regeneration. Curis' product development involves the use of proteins or small molecules to modulate To insert a data signal into a carrier wave or direct current. See modulation. these pathways. Curis has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of kidney disease Kidney Disease Definition Kidney disease is a general term for any damage that reduces the functioning of the kidney. Kidney disease is also called renal disease. (partnered with Ortho Biotech, a subsidiary of Johnson & Johnson), cancer (partnered with Genentech), neurological disorders This is a list of major and frequently observed neurological disorders (e.g. Alzheimer's disease), symptoms (e.g.back pain), signs (e.g. aphasia) and syndromes (e.g. Aicardi syndrome). (partnered with Wyeth Pharmaceuticals), alopecia alopecia (ăl'əpē`shēə): see baldness. , and cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease . For more information, please visit the Curis web site at www.curis.com. |
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