aibioCuris agrees to sell stock and warrants for about $8.5 million in gross proceeds
Tickers CRIS
Curis sold shares and pre-funded warrants at an effective $0.51 a share, with common warrants at $0.60. A.G.P./Alliance Global Partners, the lead placement agent, earns a 6.5% cash fee on the gross proceeds.
Key facts
- Company
- Curis, Inc. (NASDAQ: CRIS)
- News type
- Financings
- Primary source
- Curis, Inc. 8-K (2026-10-19)
The offering
Curis, Inc. (Nasdaq: CRIS) said in a Form 8-K dated October 19, 2026 that it had entered into a securities purchase agreement on October 16, 2026 for 16,666,680 shares of common stock, or pre-funded warrants in their place, with common warrants for up to 16,666,680 more shares. The effective combined price is $0.51 a share, or $0.50 for each pre-funded warrant, with one common warrant. Gross proceeds are expected to be about $8.5 million before placement agent fees and other expenses. The offering was expected to close on or about October 19, 2026.
The common warrants have an exercise price of $0.60 a share, become exercisable six months after issuance and expire five and a half years after issuance. Pre-funded warrants carry a $0.01 exercise price. The 8-K says the purchasers are institutional accredited investors, in a private placement.
The 8-K names A.G.P./Alliance Global Partners as lead placement agent and Laidlaw & Company (UK) Ltd. as co-placement agent. The company agreed to pay the agents a cash fee of 6.5% of gross proceeds and to reimburse their reasonable, documented out-of-pocket legal expenses up to an aggregate of $85,000, plus up to $10,000 in non-accountable expenses. The 8-K names no law firm for the company or for the agents.
The buyers' protections
Each holder's ownership under the warrants is capped at 4.99% or 9.99% of outstanding common stock, as the purchaser elects at issuance. The company agreed to file a resale registration statement within 30 days after closing. If it misses that deadline or related requirements, it must pay liquidated damages of 1.0% of the amount invested for each 30-day period.
The warrants include change-of-control provisions that apply when someone acquires more than 67% of the outstanding stock or the company merges into another entity, and they carry a repurchase right on certain fundamental transactions, valued with a Black Scholes formula. Separately, the 8-K says the company agreed to amend its existing January 2026 warrants, covering up to 1,126,676 shares, and its August 2026 warrants, covering up to 3,733,334 shares, so that all of them carry a reduced exercise price of $0.60 a share. That reprices older warrants on top of the new issuance.
The runway
The company said the proceeds are expected to fund operations through its initial Chronic Lymphocytic Leukemia data in 5 to 10 patients in December 2026. It plans to use the net proceeds for research and development, working capital and general corporate purposes.
The annual report, filed March 24, 2026, shows a net loss of $7.6 million for 2025, against $43.4 million for 2024. Cash used in operations was $27.2 million in 2025 and $39.6 million in 2024. Year-end 2024 cash and cash equivalents were $20.0 million, and $5.1 million at December 31, 2025. It also says a January 2026 private placement brought net proceeds of approximately $18.6 million.
The 8-K does not say how much cash the company held when it signed the agreement, or what share of the $8.5 million gross figure remains after fees and expenses.
The data behind the runway
The CLL readout is small. The annual report describes the CLL work as a recently initiated Phase 2 open-label combination study of emavusertib with zanubrutinib, a BTK inhibitor, in frontline CLL. It said sites began activating in the fourth quarter of 2025, with initial data expected in the fourth quarter of 2026. The 8-K does not say what result the company would count as a success.
The lead program is emavusertib, also called CA-4948, an oral inhibitor of IRAK4 and FLT3. The annual report says its TakeAim Lymphoma study in relapsed or refractory primary central nervous system lymphoma is a Phase 1/2 trial combining it with ibrutinib, and that its acute myeloid leukemia studies are substantially complete. The FDA has granted orphan drug designation for PCNSL, AML and MDS.
What comes next
The resale registration statement is due within 30 days after closing, and the company expects its first CLL data in December 2026. The 8-K does not discuss the company's listing status or any reverse split.