Kymera Therapeutics Unveils Major Public Offering Plan
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Kymera Therapeutics Announces Major Public Offering
WATERTOWN, Mass. — Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company, has announced a significant public offering of common stock valued at approximately $200 million. This offering includes shares of common stock and, for specific investors, pre-funded warrants to acquire additional shares. The company plans to grant the underwriters a 30-day option to purchase up to $30 million in additional shares at the public offering price, excluding underwriting fees and commissions.
This initiative aims to bolster the clinical advancements of Kymera's protein degradation programs, intended to address critical health challenges faced by patients globally. The funding will play a crucial role in enhancing the company’s research and development efforts and extending its pipeline of innovative solutions that exhibit clear commercial potential.
Kymera Therapeutics is focused on its commitment to develop medicines using targeted protein degradation (TPD), a pioneering scientific approach that allows the targeting of previously inaccessible disease pathways. The company has made significant progress by advancing the first degrader into clinical trials for immunological diseases and is currently working on oncology programs that aim to target challenging cancer proteins.
As part of this public offering, it will be marketed under an automatically effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). A prospectus supplement will be available outlining the specific terms of the offering.
According to the announcement, notable investment banks Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel are acting as joint book-running managers for this public offering. The company is strategically using the financing to not only advance clinical programs but also for general corporate purposes, including potential partnerships or investments in complementary technologies.
Kymera's approach continues to draw attention in the biotech community, bolstered by its recognition as one of Boston’s premier workplaces over several years. By pursuing innovative degradation therapeutics, Kymera is on a mission to transform the treatment landscape for chronic conditions and to enhance patients' quality of life significantly.
About Kymera Therapeutics
Founded in 2016, Kymera Therapeutics is at the forefront of biotechnology, focusing on targeted protein degradation to innovate treatments that solve pressing health issues. Their pioneering work targets diseases inaccessible through traditional therapies, positioning them as a key player in the industry. The company emphasizes creating convenient and highly effective oral treatments, particularly for complex conditions like cancer and autoimmune disorders.
Contact Information
For inquiries, please reach out to:
Justine Koenigsberg
Vice President, Investor Relations
Email: investors@kymeratx.com
Media: media@kymeratx.com
Phone: 857-285-5300
Frequently Asked Questions
1. What is Kymera Therapeutics planning to do with the public offering?
Kymera Therapeutics intends to use the proceeds from the public offering to advance its pipeline of targeted protein degradation programs and for general corporate purposes.
2. How much money is Kymera Therapeutics aiming to raise?
The company is looking to raise approximately $200 million through its public offering.
3. Which banks are facilitating the offering?
Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel are serving as joint book-running managers for this public offering.
4. What is the significance of targeted protein degradation?
Targeted protein degradation provides a novel approach to treating diseases by allowing the targeting of challenging disease pathways that traditional therapies cannot access.
5. What has been Kymera's recognition in the biotech sector?
Kymera Therapeutics has been acknowledged as one of Boston’s top workplaces for several years, highlighting its innovative culture and commitment to advancing healthcare.
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