Kairos Pharma Successfully Completes $6.2 Million IPO
Kairos Pharma Completes Initial Public Offering
Kairos Pharma, Ltd. has made significant strides in the biopharmaceutical landscape with its recent successful initial public offering. This clinical-stage company, dedicated to developing innovative cancer therapies, raised $6.2 million through the sale of 1,550,000 shares at an offering price of $4.00 each. The common stock is now trading on the NYSE American LLC under the ticker symbol KAPA.
Utilizing Proceeds for Future Developments
The funds generated from the IPO will be instrumental in propelling the company's clinical trials forward. Specifically, they will support the Phase 1 trial for lung cancer and a Phase 2 trial for prostate cancer using Kairos Pharma's leading candidate, ENV 105. This drug aims to combat drug resistance in cancer treatments, enhancing effectiveness in patient care.
Advancing Innovative Drug Candidates
In addition to funding clinical trials, the offering will facilitate further advancements in preclinical candidates. Notably, KROS 101 is a small molecule agonist targeting the GITR ligand, which has promising potential in boosting T cell activity against cancer cells. This innovative approach reflects Kairos Pharma's commitment to revolutionizing cancer treatment methods, making it a company to watch.
Strategic Underwriting Support
Boustead Securities, LLC took the lead as the managing underwriter for this IPO, supported by co-managing underwriters EF Hutton LLC and Sutter Securities, Inc. With a robust underwriting team backing this financing, Kairos Pharma is well-positioned for its upcoming research initiatives.
Legal Counsel and Registration
Dorsey & Whitney LLP provided legal counsel to Kairos Pharma, ensuring compliance with federal regulations. The Securities and Exchange Commission declared the related registration statement on Form S-1 effective just prior to the share offerings.
About Kairos Pharma
Kairos Pharma, based in Los Angeles, is at the forefront of cancer treatment innovation. By focusing on therapies that tackle drug resistance and stimulate the immune system, the company is charting a course towards groundbreaking advancements in oncology. Their dedicated research efforts are driven by a mission to provide transformative solutions to enhance patient outcomes in cancer therapy.
Frequently Asked Questions
What type of company is Kairos Pharma?
Kairos Pharma, Ltd. is a clinical-stage biopharmaceutical company focused on developing cancer therapeutics.
How much money did Kairos Pharma raise in its IPO?
In its initial public offering, Kairos Pharma raised approximately $6.2 million.
What will the proceeds from the IPO be used for?
The proceeds will support clinical trials for lung and prostate cancer and advance preclinical drug candidates.
On which exchange is Kairos Pharma's stock traded?
Kairos Pharma's stock trades on the NYSE American LLC under the ticker symbol KAPA.
Who acted as the underwriter for the IPO?
Boustead Securities, LLC served as the lead managing underwriter, with additional support from EF Hutton LLC and Sutter Securities, Inc.
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