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 plans to grant the underwriters a 30-day option to purchase up to an additional $37.5 million of shares of its common stock.
The net proceeds from the offering are intended to be used to continue advancing Kymera's 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.
The joint book-running managers for the offering are Morgan Stanley, J.P. Morgan, Jefferies, TD Cowen, and Leerink Partners.
Kymera Therapeutics, a clinical-stage biotechnology company, is pioneering the field of targeted protein degradation (TPD) to develop medicines for critical health problems. The company has advanced the first degrader into the clinic for immunological diseases and is focused on building an industry-leading pipeline of oral small molecule degraders to provide highly effective therapies for patients with these conditions.
Founded in 2016, Kymera has been recognized as one of Boston's top workplaces for the past several years. As a result of these announcements, the company's shares have moved -3.48% on the market, and are now trading at a price of $44.12. Check out the company's full 8-K submission here.
