Biotech firm Curis, Inc. raises $8.5 million through an at-the-market private placement to bolster its pipeline, including the development of its small molecule inhibitor emavusertib.
Curis, Inc. has secured $8.5 million in gross proceeds through a private placement of common stock and warrants priced at-the-market under Nasdaq rules. This capital infusion is intended to support the ongoing development of its lead clinical candidate, emavusertib, though the issuance of new equity results in immediate dilution for existing shareholders.
The proceeds are intended to support the company's operations and the development of its lead drug candidate, emavusertib.
Emavusertib (CA-4948) is an orally available, small molecule inhibitor targeting IRAK4 and FLT3, currently being developed by Curis.
Curis, Inc. has entered into a definitive agreement for an $8.5 million private placement priced at-the-market. The capital infusion is intended to support the ongoing development of the company's lead clinical candidate, emavusertib, an IRAK4 and FLT3 inhibitor.
The $8.5 million raised will be used to support the development of emavusertib, the company's orally available small molecule inhibitor.