Kairos Pharma Celebrates Successful $6.2 Million IPO
Kairos Pharma Celebrates Successful Initial Public Offering
Kairos Pharma, Ltd. (NYSE American: KAPA), a clinical-stage biopharmaceutical company specializing in cancer therapeutics, recently completed the closing of its initial public offering (IPO), raising an impressive $6.2 million through the sale of 1,550,000 shares of common stock at $4.00 per share.
Utilization of Proceeds
The funds raised from this offering will play a vital role in advancing Kairos Pharma's mission to develop innovative treatments aimed at combating cancer drug resistance and immune suppression. The company intends to allocate the net proceeds to support its Phase 1 clinical trial for ENV 105 in lung cancer and a Phase 2 trial in prostate cancer. This lead product candidate is designed to tackle the problem of resistance to existing cancer therapies.
Advancing Preclinical Candidates
In addition to the clinical trials, the funds will also be directed toward the advancement of preclinical candidates like KROS 101. This small molecule agonist targets the GITR ligand, promoting T cell growth and enhancing cytotoxic function against cancer cells. This strategy reflects Kairos Pharma's commitment to developing a robust pipeline of cancer therapies.
Underwriters and Legal Counsel
The IPO was led by Boustead Securities, LLC, who managed the offering, with EF Hutton LLC and Sutter Securities, Inc. serving as co-managing underwriters. Legal counsel for the company was provided by Dorsey & Whitney LLP, while Olshan Frome Wolosky LLP represented the underwriters.
Company Background
Founded in Los Angeles, California, Kairos Pharma is focused on utilizing structural biology to create drugs that not only combat cancer but also reverse its effects on the immune system. The company has carved a niche for itself in the oncology space with its diverse pipeline of therapeutics.
Registration and Regulatory Approvals
The registration statement regarding this offering was declared effective by the Securities and Exchange Commission (SEC) prior to the start of trading. As part of best practices, the offering was made solely via a prospectus. Interested parties can find electronic copies of the final prospectus available on the SEC’s official website.
Contact Information
For furtherquiries, companies and individuals can reach out to CORE IR, specifically Louie Toma, at investors@kairospharma.com. This contact information provides a point of communication for potential investors looking for more detailed information.
Frequently Asked Questions
What is the purpose of the funds raised from the IPO?
The funds raised will support clinical trials for ENV 105 and advance preclinical candidates such as KROS 101.
Who managed Kairos Pharma's IPO?
Boustead Securities, LLC acted as the lead managing underwriter for the IPO, assisted by EF Hutton LLC and Sutter Securities, Inc.
What is ENV 105?
ENV 105 is Kairos Pharma's lead product candidate aimed at reversing resistance to cancer drugs, currently being tested in clinical trials.
Where is Kairos Pharma located?
Kairos Pharma is based in Los Angeles, California, focusing on innovative cancer therapeutics.
How can one access the final prospectus?
The final prospectus will be available on the SEC's website once it is published, providing detailed information about the IPO.
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