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Armistice Capital and Steven Boyd report beneficial ownership of 1,287,337 shares of Curis Inc (CUSIP 00510M203), representing 9.99% of the company's common stock. Armistice Capital, LLC is the investment manager of Armistice Capital Master Fund Ltd., the direct holder of the shares, and exercises shared voting and dispositive power over those securities. Steven Boyd, as managing member of Armistice Capital, is reported with the same shared voting and dispositive power. The filing states the securities are held in the ordinary course of business and not for the purpose of influencing control.

M28 Capital Management LP and Marc Elia report beneficial ownership of 620,167 shares of Curis common stock, representing 5.9% of the outstanding class when assuming exercise of reported warrants. The reported stake includes 99,108 shares issuable upon exercise of warrants, and the percentage is calculated using an aggregate share base of 10,561,358 shares.

The filing shows the reporting persons possess only shared voting and dispositive power over these shares, and it certifies the holdings were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control.

Curis, Inc. filed a prospectus supplement under its existing shelf registration to offer and sell up to $8,137,047 of its common stock through an Amended and Restated Sales Agreement with Cantor Fitzgerald & Co. and JonesTrading Institutional Services LLC acting as agents. The Shares are registered under the companys Registration Statement and will be offered only by means of the Prospectus Supplement.

The company notified the agents that it terminated a prior prospectus related to an offering of up to $100.0 million, while confirming the Sales Agreement remains in full force and effect. Wilmer Cutler Pickering Hale and Dorr LLP provided a legal opinion and consent included as exhibits. This filing documents terms for a potential equity offering and the related legal opinions; it does not itself constitute a sale of securities.

Curis, Inc. filed a prospectus supplement dated August 8, 2025 registering an at-the-market (ATM) program to sell up to $8,137,047 of common stock through Cantor Fitzgerald & Co. and JonesTrading as sales agents, who will receive a 3% commission on gross sales. The offering is being made under an amended sales agreement and the shares may be sold from time to time at market prices.

The company focuses on emavusertib (CA-4948), an orally available IRAK4 inhibitor licensed via a 2015 collaboration with Aurigene, and has licensed Erivedge rights to Genentech. As of June 30, 2025 Curis had $10.1 million in cash and cash equivalents and completed July 2025 offerings that generated approximately $6.0 million net proceeds. Management states that existing cash plus July proceeds should fund operations into the first quarter of 2026, but the company discloses substantial doubt about its ability to continue as a going concern beyond 12 months. Curis also faces a Nasdaq market-value deficiency and must regain a $35 million market value by August 20, 2025 to avoid delisting.

Curis, Inc. (CRIS) 鈥� Q2 2025 Form 10-Q highlights

• Revenue: Erivedge royalties rose 8% YoY to $2.7 m for the quarter and 11% to $5.1 m for H1 2025.
• Costs: R&D cut 22% YoY to $16.0 m; G&A down 22% to $7.5 m. Total operating expenses fell 21% to $23.5 m.
• Losses: Q2 net loss $8.6 m (-27% YoY); H1 loss $19.2 m (-19% YoY). Basic EPS -$0.68 vs -$2.03.
• Cash position: Cash & cash equivalents declined to $10.1 m (vs $20.0 m YE-24) after $15.3 m H1 operating cash burn.
• Going-concern: Management warns cash runway extends only into Q1 2026; 鈥渟ubstantial doubt鈥� exists without new financing.
• Balance sheet: Stockholders鈥� deficit widened to $14.0 m; royalty-backed liability $30.2 m outstanding.
• Equity raises: March 2025 offerings net $8.8 m; July 2025 follow-on added ~$6 m post-quarter. Authorized shares doubled to 68.3 m; outstanding shares 12.5 m at 8/1/25.
• Pipeline: Lead IRAK4 inhibitor emavusertib in three clinical studies; received Orphan Drug status in AML, MDS & PCNSL. FDA & EMA meetings support accelerated paths.
• Risks: Single-asset dependence, Nasdaq listing deficiency, need for >$50 m additional capital, competitive and patent risks.

Outlook: Curis must secure near-term funding or a strategic partnership to continue emavusertib trials and satisfy royalty debt obligations.

Curis, Inc. (Nasdaq: CRIS) has entered into a combined $7.0 million capital raise consisting of a registered direct offering and a concurrent private placement. On 2 July 2025, the company executed a Securities Purchase Agreement with institutional investors to sell (i) 1,538,460 registered shares of common stock and (ii) an equivalent number of pre-funded warrants, each paired with five-year common warrants covering in aggregate 3,076,921 shares. The combined purchase price is $2.275 per share/warrant unit for stock and $2.265 for pre-funded warrant units, implying a modest 0.4% discount for the pre-funded tranche. Gross proceeds are expected to total approximately $7.0 million before $0.5 million in placement fees and up to $0.1 million in reimbursable expenses.

Laidlaw & Company (UK) Ltd. and JonesTrading Institutional Services LLC acted as co-placement agents. Shares are being issued off Curis鈥� effective Form S-3 shelf (File No. 333-276950); the unregistered warrants and underlying shares rely on the Section 4(a)(2)/Rule 506(b) exemption. Closing is targeted on or before 3 July 2025, subject to customary conditions.

The unregistered warrants are immediately exercisable: pre-funded warrants at $0.01 and common warrants at $2.15, each containing beneficial-ownership caps of 4.99% or 9.99% (adjustable up to 19.99% with notice). In certain hostile fundamental transactions, holders may require cash redemption at fair value calculated via a Black-Scholes model.

A Registration Rights Agreement obliges Curis to file a resale shelf for the warrant shares within 60 days of closing and keep it effective for up to five years, with 1% monthly liquidated damages for filing/effectiveness delays (subject to caps).

Management expects net proceeds, together with existing cash, to fund operations into Q1 2026. Curis simultaneously terminated the April 2024 ATM prospectus under its Cantor/Jones at-the-market facility; the Sales Agreement remains in force but new sales require a refreshed prospectus.

Exhibits include the forms of warrants, Purchase Agreement, Registration Rights Agreement, legal opinion, investor deck, and the related press release.