Curis expects about $8.5 million to fund research and daily costs through its first chronic lymphocytic leukemia data in December. But it will issue 16.7 million shares and warrants for up to 16.7 million more, leaving current owners with a smaller share.
The new shares give current owners a smaller share of Curis. Warrants could allow buyers to get as many additional shares later. The cash may keep research going through initial results from 5 to 10 patients in December, but the added shares weigh more.
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