Curis shares fall 15.97% intraday after announcing $80.8M private placement to fund R&D and operations.

Curis Inc. fell 15.97% intraday after announcing a $80.8 million private placement of Series B preferred stock and warrants, with $20.2 million in initial proceeds. The financing, involving insiders and institutional investors, includes convertible preferred stock and warrants exercisable at $0.75 per share, signaling significant equity dilution. The move follows a Q3 2025 net loss of $7.7 million and a market capitalization of just $12.93 million, highlighting financial strain. While the capital aims to fund development of emavusertib, the dilutive structure and weak financial position prompted a sharp sell-off, as investors reacted to the perceived devaluation of existing shares and the company’s reliance on costly equity raises to sustain operations.