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.
The net proceeds from the offering will be used to advance 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.
Morgan Stanley, J.P. Morgan, Jefferies, TD Cowen, and Leerink Partners are acting as joint book-running managers for the offering.
Kymera is a clinical-stage biotechnology company focused on pioneering the field of targeted protein degradation (TPD) to develop medicines for critical health problems. The company aims to provide a new generation of convenient, highly effective therapies for patients with immunological diseases.
Founded in 2016, Kymera 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. Following these announcements, the company's shares moved -3.48%, and are now trading at a price of $44.12. Check out the company's full 8-K submission here.
