Kymera Therapeutics (NASDAQ: KYMR) has priced a $225 million public offering of common stock and pre-funded warrants. The company is selling 2,002,313 shares at $40.75 per share and pre-funded warrants for 3,519,159 shares at $40.7499 each. Kymera has granted underwriters a 30-day option to purchase up to 828,220 additional shares. The offering is expected to close on August 21, 2024.
Proceeds will be used to advance Kymera’s pipeline of preclinical and clinical degrader programs, for working capital, and other corporate purposes. The company may also use funds for in-licensing, acquisitions, or investments in complementary businesses or technologies. Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel are acting as joint book-running managers for the offering.
Kymera Therapeutics (NASDAQ: KYMR) ha definito un’offerta pubblica da 225 milioni di dollari di azioni ordinarie e warrants prefinanziati. L’azienda sta vendendo 2.002.313 azioni a 40,75 dollari per azione e warrants prefinanziati per 3.519.159 azioni a 40,7499 dollari ciascuna. Kymera ha concesso ai sottoscrittori un’opzione di 30 giorni per acquistare fino a 828.220 azioni aggiuntive. Si prevede che l’offerta si chiuderà il 21 agosto 2024.
I proventi saranno utilizzati per promuovere il pipeline di programmi degrader preclinici e clinici di Kymera, per il capitale circolante e altri scopi aziendali. L’azienda potrebbe anche utilizzare i fondi per in-licensing, acquisizioni o investimenti in attività o tecnologie complementari. Morgan Stanley, J.P. Morgan, TD Cowen e Stifel stanno agendo come manager co-bookrunning per l’offerta.
Kymera Therapeutics (NASDAQ: KYMR) ha establecido una oferta pública de 225 millones de dólares de acciones ordinarias y warrants prefinanciados. La empresa está vendiendo 2.002.313 acciones a 40,75 dólares por acción y warrants prefinanciados para 3.519.159 acciones a 40,7499 dólares cada una. Kymera ha otorgado a los suscriptores una opción de 30 días para comprar hasta 828.220 acciones adicionales. Se espera que la oferta se cierre el 21 de agosto de 2024.
Los ingresos se utilizarán para avanzar en la cartera de programas degradadores preclínicos y clínicos de Kymera, para capital de trabajo y otros fines corporativos. La empresa también podría utilizar los fondos para in-licensing, adquisiciones o inversiones en negocios o tecnologías complementarias. Morgan Stanley, J.P. Morgan, TD Cowen y Stifel están actuando como gerentes conjuntos de libro para la oferta.
카이메라 테라퓨틱스(Kymera Therapeutics, NASDAQ: KYMR)는 2억 2,500만 달러의 공모를 제정하였습니다. 이 회사는 주당 40.75달러에 2,002,313주의 보통주와, 주당 40.7499달러에 3,519,159주의 미리 자금 조달된 워런트를 판매하고 있습니다. 카이메라는 인수자들에게 30일 이내에 최대 828,220주의 추가 주식을 구매할 수 있는 옵션을 부여했습니다. 이 공모는 2024년 8월 21일에 마감될 것으로 예상됩니다.
수익금은 카이메라의 전임상 및 임상 분해자 프로그램을 진전시키는 데 사용되며, 운영 자본 및 기타 기업 목적에 사용될 것입니다. 회사는 또한 라이선스 취득, 인수 또는 보완 비즈니스 또는 기술에 대한 투자에 자금을 사용할 수 있습니다. 모건 스탠리, J.P. 모건, TD 카우엔, 스티펠이 이번 공모의 공동 북러닝 매니저로 활동하고 있습니다.
Kymera Therapeutics (NASDAQ: KYMR) a établi une offre publique de 225 millions de dollars d’actions ordinaires et de bons de souscription préfinancés. L’entreprise vend 2.002.313 actions à 40,75 dollars par action et des bons de souscription préfinancés pour 3.519.159 actions à 40,7499 dollars chacun. Kymera a accordé aux souscripteurs une option de 30 jours pour acheter jusqu’à 828.220 actions supplémentaires. L’offre devrait se clôturer le 21 août 2024.
Les recettes seront utilisées pour faire avancer le portefeuille de programmes dégradants précliniques et cliniques de Kymera, pour le fonds de roulement et d’autres objectifs d’entreprise. L’entreprise pourrait également utiliser des fonds pour des licences, des acquisitions ou des investissements dans des entreprises ou technologies complémentaires. Morgan Stanley, J.P. Morgan, TD Cowen et Stifel agissent en tant que gestionnaires co-livreurs pour l’offre.
Kymera Therapeutics (NASDAQ: KYMR) hat ein öffentliches Angebot in Höhe von 225 Millionen Dollar festgelegt für Stammaktien und vorfinanzierte Optionsscheine. Das Unternehmen verkauft 2.002.313 Aktien zu 40,75 Dollar pro Aktie und vorfinanzierte Optionsscheine für 3.519.159 Aktien zu je 40,7499 Dollar. Kymera hat den Underwritern eine 30-tägige Option eingeräumt, bis zu 828.220 zusätzliche Aktien zu kaufen. Das Angebot wird voraussichtlich am 21. August 2024 abgeschlossen.
Die Erlöse werden verwendet, um die Pipeline von präklinischen und klinischen Degrader-Programmen von Kymera voranzutreiben, für Betriebskapital und andere Unternehmenszwecke. Das Unternehmen könnte auch Mittel für In-Lizenzierungen, Akquisitionen oder Investitionen in ergänzende Geschäfte oder Technologien verwenden. Morgan Stanley, J.P. Morgan, TD Cowen und Stifel treten als Joint Book-Running Manager für das Angebot auf.
Positive
- Raising $225 million in capital through public offering
- Funds to be used for advancing preclinical and clinical programs
- Potential for additional capital if underwriters exercise their option
Negative
- Potential dilution of existing shareholders’ equity
- Increase in outstanding shares may put downward pressure on stock price
Kymera Therapeutics’
The inclusion of pre-funded warrants at
This capital raise is a critical milestone for Kymera Therapeutics, providing substantial resources to advance its innovative targeted protein degradation (TPD) platform. The
The company’s focus on “large patient populations with significant need and clear commercial opportunity” suggests a strategic approach to drug development. This capital infusion may also enable Kymera to explore new disease targets or expand existing programs, potentially increasing the company’s long-term value proposition in the competitive biotech landscape.
The timing and size of this offering reflect favorable market conditions for biotech companies, particularly those in the cutting-edge TPD space. Kymera’s ability to raise
Investors should note the company’s intention to potentially use funds for in-licensing or acquisitions, which could expand Kymera’s technological capabilities or market reach. This proactive approach to growth, coupled with the significant cash reserve, positions Kymera well against competitors and may attract partnership opportunities with larger pharmaceutical companies, potentially driving future value creation.
WATERTOWN, Mass., Aug. 19, 2024 (GLOBE NEWSWIRE) — Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of small molecule medicines using targeted protein degradation (TPD), today announced the pricing of its underwritten public offering of
Kymera intends to use the net proceeds from the offering to continue to advance its pipeline of preclinical and clinical degrader programs that are designed to address large patient populations with significant need and clear commercial opportunity, and for working capital and other general corporate purposes. Kymera may also use a portion of the net proceeds to in-license, acquire or invest in complementary businesses or technologies to continue to build its pipeline, research and development capabilities and its intellectual property position.
Morgan Stanley, J.P. Morgan, TD Cowen and Stifel are acting as joint book-running managers for the offering.
The securities described above are being offered pursuant to an automatically effective shelf registration statement on Form S-3 (No. 333-259955) that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 1, 2021. This offering is being made only by means of a prospectus supplement and an accompanying prospectus that form a part of the registration statement.
A final prospectus supplement related to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and an accompanying prospectus related to the offering may also be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846, or by email at TD.ECM_Prospectus@tdsecurities.com; and Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.
About Kymera Therapeutics
Kymera is a clinical-stage biotechnology company pioneering the field of targeted protein degradation (TPD) to develop medicines that address critical health problems and have the potential to dramatically improve patients’ lives. Kymera is deploying TPD to address disease targets and pathways inaccessible with conventional therapeutics. Having advanced the first degrader into the clinic for immunological diseases, Kymera is focused on delivering oral small molecule degraders to provide a new generation of convenient, highly effective therapies for patients with these conditions. Kymera is also progressing degrader oncology programs that target undrugged or poorly drugged proteins to create new ways to fight cancer. Founded in 2016, Kymera has been recognized as one of Boston’s top workplaces for the past several years.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may contain “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, and include, but are not limited to, statements regarding the expected gross proceeds from the offering, completion and timing of the public offering and the anticipated use of proceeds from the offering. Any forward-looking statements are based on Kymera’s current expectations, forecasts, and assumptions and are subject to a number of risks and uncertainties that could cause actual outcomes and results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Kymera’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Kymera’s Annual Report on Form 10-K for the year ended December 31, 2023 and its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, as well as in the prospectus supplement related to the public offering. Forward-looking statements contained in this press release are based on information available to Kymera as of the date hereof and are made only as of the date of this release. Kymera undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing Kymera’s views as of any date subsequent to the date of this press release. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of Kymera.
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FAQ
What is the size of Kymera Therapeutics’ public offering?
Kymera Therapeutics (NASDAQ: KYMR) has priced a $225 million public offering of common stock and pre-funded warrants.
At what price is Kymera Therapeutics (KYMR) offering its common stock?
Kymera Therapeutics is offering its common stock at a public offering price of $40.75 per share.
When is the expected closing date for Kymera Therapeutics’ public offering?
The public offering is expected to close on August 21, 2024, subject to customary closing conditions.
How does Kymera Therapeutics (KYMR) plan to use the proceeds from the offering?
Kymera plans to use the proceeds to advance its pipeline of preclinical and clinical degrader programs, for working capital, and other general corporate purposes. They may also use funds for in-licensing, acquisitions, or investments in complementary businesses or technologies.