Shares of Curis Inc (NASDAQ:CRIS) surged around 19% in premarket trading on Wednesday after the biotech group said it has entered into a private placement that could raise gross proceeds of up to $80.8 million.
The financing, backed by healthcare-focused institutional investors alongside company insiders, is expected to generate initial gross proceeds of roughly $20.2 million before fees and expenses. Curis said the transaction is scheduled to close on or around January 8, 2026, subject to standard closing conditions.
As part of the deal, Curis is issuing Series B convertible preferred stock together with Series A, B and C warrants to acquire common shares. Members of the company’s senior management — including the CEO, CFO, CMO, Chief Development Officer and a board director — are participating in the placement at a price of $1,000 per security.
The warrants carry an exercise price of $0.75 per share, with expiration dates ranging between 2027 and 2031. One series of warrants will expire shortly after Curis announces dosing of the fifth patient in its Phase 2 study evaluating emavusertib in combination with an approved Bruton tyrosine kinase inhibitor for chronic lymphocytic leukemia.
Curis said the funds will be used primarily to support research and development activities, with a particular focus on advancing emavusertib — an oral small-molecule IRAK4 and FLT3 inhibitor — as well as for general corporate purposes and working capital.
Laidlaw & Company (UK) Ltd. is acting as the sole placement agent on the transaction.