Kymera Therapeutics, Inc. (NASDAQ: KYMR) has announced a proposed public offering of $250.0 million of shares of its common stock and pre-funded warrants to purchase shares of its common stock. The company also intends to grant the underwriters a 30-day option to purchase up to an additional $37.5 million of shares of its common stock.
Kymera plans to use the net proceeds from the offering to continue advancing its pipeline of preclinical and clinical degrader programs designed to address large patient populations with significant need and clear commercial opportunity, as well as for working capital and other general corporate purposes.
Morgan Stanley, J.P. Morgan, Jefferies, TD Cowen, and Leerink Partners are acting as joint book-running managers for the offering.
The securities are being offered pursuant to an automatically effective shelf registration statement on Form S-3 (No. 333-282912) that was filed with the U.S. Securities and Exchange Commission (SEC) on October 31, 2024.
Kymera Therapeutics, founded in 2016, is a clinical-stage biotechnology company focused on developing medicines that address critical health problems using targeted protein degradation (TPD) to address disease targets and pathways inaccessible with conventional therapeutics. The company has advanced the first degrader into the clinic for immunological diseases and is working on building an industry-leading pipeline of oral small molecule degraders to provide a new generation of convenient, highly effective therapies for patients with these conditions. Following these announcements, the company's shares moved -3.48%, and are now trading at a price of $44.12. If you want to know more, read the company's complete 8-K report here.
