Curis Executive Officers Adopt Rule 10b5-1 Securities Trading Plans
Friday January 9, 6:01 pm ET
CAMBRIDGE, Ma.--(BUSINESS WIRE)--Jan. 9, 2004--Curis, Inc. (NASDAQ:CRIS - News) today announced that certain of its executive officers adopted pre-arranged stock trading plans in accordance with Rule 10b5-1 of the U.S. Securities Exchange Act of 1934 in the fourth quarter of 2003.
Under Rule 10b5-1, executive officers of Curis who are not then in possession of material inside information may enter into a written plan to sell a fixed number or fixed dollar amount of shares of Curis stock on a prearranged basis. An independent broker executes the pre-planned trades, according to the plan's instructions, without regard to any subsequent non-public information the individual might receive. Once the executive officer's plan is in place, he or she cannot influence the broker's trading activities with respect to his or her shares of Curis stock subject to the plan.
Implementation of the Rule 10b5-1 trading plans seeks to avoid concerns about initiating stock transactions while in possession of material nonpublic information and also permits executive officers and other corporate insiders to gradually diversify their investment portfolio and may minimize the market effect of stock sales by spreading them out over an extended period of time.
About Curis, Inc.
Curis, Inc. is a therapeutic drug development company. The Company's technology focus is on regulatory pathways that control repair and regeneration. Curis' product development involves the use of proteins or small molecules to modulate these pathways. Curis has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of kidney disease, neurological disorders, cancer, and alopecia (hair loss). For more information, please visit the Curis web site at www.curis.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning Curis' or management's intentions, plans, expectations or predictions of future events. Such statements may contain the words "believes", "expects", "anticipates", "plans", "estimates" or similar expressions. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those indicated by such forward-looking statements. Actual results can be affected by, among other things, uncertainties relating to product development, clinical trials, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, changes in or an inability to execute Curis' realigned business strategy and other risk factors identified in Curis' most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Curis disclaims any intention or obligation to update any of the forward-looking statements after the date of this press release.
Contact:
Curis, Inc.
Michael Gray, 617-503-6632
or:
Marc Charette, Ph.D., 617-503-6629
Source: Curis, Inc. |
