Stock Alert: Curis Shares Gain After Pricing Of Public Offering

Curis, Inc. (CRIS) shares are rising on Wednesday morning trade as the biotech company announced the pricing of a public offering of 25,652,174 shares at $5.75 per share. The company expects total gross proceeds of approximately $147.5 million from the offering, which is scheduled to close on or about December 11.

Curis intends to use the net proceeds to continue the development of CA-4948, in collaboration with Aurigene, and CI-8893, in collaboration with ImmuNext, and for general working capital and capital expenditures.

Currently, shares are at $7.21, up 10.08 percent from the previous close of $6.55 on a volume of 46,922,030. The shares have traded in a range of $0.62 to $8.36 on average volume of 6,105,281, for the 52-week period

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