Curis Announces Proposed Public Offering of Common Stock

LEXINGTON, Mass., Feb. 24, 2015 (GLOBE NEWSWIRE) -- Curis, Inc. (Nasdaq:CRIS), announced today that it has commenced an underwritten public offering of shares of its common stock. In connection with this offering, Curis intends to grant the underwriters for the offering a 30-day option to purchase an additional 15% of the shares of its common stock offered in the public offering. All of the shares in the offering are to be sold by Curis.

The joint book-running managers for the proposed offering are Cowen and Company, LLC and RBC Capital Markets, LLC. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Curis anticipates using the net proceeds from the offering to conduct further preclinical testing and clinical studies of its product candidates, particularly CUDC-907 and any product candidates for which it may exercise its option to exclusively in-license from Aurigene Discovery Technologies Limited, to fund potential acquisitions of new business, technologies or products that it believes complement or expand its business, and for general working capital and capital expenditures.

The securities described above are being offered by Curis pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission ("SEC"), which the SEC declared effective on July 22, 2013. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website located at www.sec.gov. Copies of the preliminary prospectus supplement relating to this offering may be obtained from:

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Curis, Inc.

Curis is a biotechnology company focused on the development and commercialization of innovative drug candidates for the treatment of human cancers.

Forward-Looking Statements: Statements contained in this press release about Curis that are not purely historical, and all other statements that are not purely historical, may be deemed to be forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects", "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements involve known and unknown risks and uncertainties that may cause Curis' actual results, performance or achievements to be materially different than those expressed or implied by the forward-looking statements Curis makes.Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, whether or not Curis will be able to raise capital through the sale of shares of common stock, the final terms of the proposed offering, market and other conditions, the satisfaction of customary closing conditions related to the proposed public offering, Curis' business and financial condition, and the impact of general economic, industry or political conditions in the United States or internationally. Additional risks and uncertainties relating to the proposed offering, Curis and its business can be found under the caption "Risk Factors" included in Curis' annual report on Form 10-K for the year ended December 31, 2014 filed with the SEC on February 24, 2015 and in other filings that Curis periodically makes with the SEC.

Any forward-looking statements contained in this press release speak only as of the date hereof. While Curis may elect to update these forward-looking statements at some point in the future, Curis expressly disclaims any obligation to update any forward-looking statements, except as required by law.

CONTACT: Mani Mohindru, Ph.D.
         Vice President, Corporate Strategy and Investor Relations
         Curis, Inc.
         (617) 503-6605
         mmohindru@curis.com
         
         Michael P. Gray
         Chief Financial and Chief Business Officer
         Curis, Inc.
         (617) 503-6632
         mgray@curis.com