Baird Reiterates Outperform on Curis (CRIS) as Aurigene Forgoes Milestone Payments; Increases Equity Position
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Aurigene to Invest in Curis at Premium Through Waiver of Certain Milestone Payments Under Collaboration Agreement
September 7, 2016 6:55 AM EDTLEXINGTON, Mass., Sept. 07, 2016 (GLOBE NEWSWIRE) -- Curis, Inc. (Nasdaq: CRIS), a biotechnology company focused on the development and commercialization of innovative and effective drug candidates for the treatment of cancer, today announced that its collaborator, Aurigene Discovery Technologies Ltd., will receive 10.2 million shares of Curiss common stock, priced at $2.40 per share, representing a 39% premium to the closing price on September 2, 2016, in lieu of receiving up to $24.5 million of milestone and other payments from Curis that may become due under the companies 2015 collaboration agreement.
In January 2015, Curis and Aurigene established an exclusive... More
