Kymera Therapeutics Completes $225 Million Public Offering
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Kymera Therapeutics Completes $225 Million Public Offering
Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of small molecule medicines using targeted protein degradation (TPD), has successfully closed its upsized underwritten public offering of $225 million of shares of common stock. This offering included pre-funded warrants to purchase shares of its common stock for certain investors.
Details of the Offering
In total, Kymera sold 2,830,533 shares of its common stock, which also encompasses 828,220 shares from the underwriters' full exercise of their option to purchase additional shares. Additionally, pre-funded warrants were issued to purchase 3,519,159 shares of common stock. The public offering price was set at $40.75 per share, while the pre-funded warrants were sold at $40.7499 each, representing the share price minus the minimal exercise price.
Gross Proceeds from the Offering
The gross proceeds to Kymera from this offering amount to approximately $258.75 million before deducting underwriting discounts and commissions alongside estimated offering expenses. The strategic financial move is expected to enhance Kymera’s capabilities in developing novel therapies.
Book-Running Managers
Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel acted as joint book-running managers for this offering, demonstrating their pivotal role in facilitating the successful capital raise for Kymera.
About Kymera Therapeutics
Kymera Therapeutics is a clinical-stage biotechnology company pioneering the field of targeted protein degradation (TPD) to develop medicines that address critical health problems and have the potential to significantly improve patient outcomes. The company is focusing on making TPD technology work for disease targets and pathways that are often left unaddressed by traditional therapeutics. Kymera has already advanced its first degrader into the clinic focusing on immunological diseases, while also progressing its oncology programs targeting poorly drugged or undruggable proteins. Established in 2016, Kymera has been recognized as one of the top workplaces in Boston for multiple years.
Investor and Media Contact
Justine Koenigsberg
Vice President, Investor Relations
investors@kymeratx.com
media@kymeratx.com
857-285-5300
Frequently Asked Questions
What is the main purpose of Kymera's recent public offering?
The public offering aims to raise funds to support Kymera's ongoing research and development in targeted protein degradation to create innovative therapies.
How much capital was raised through the offering?
Kymera Therapeutics successfully raised approximately $258.75 million gross proceeds from the offering.
Who managed the public offering?
The offering was managed by Morgan Stanley, J.P. Morgan, TD Cowen, and Stifel as joint book-running managers.
What is targeted protein degradation (TPD)?
TPD is a novel therapeutic approach that focuses on degrading disease-causing proteins in the body, offering new pathways for drug development that traditional methods cannot address.
When was Kymera Therapeutics founded?
Kymera Therapeutics was founded in 2016 and has quickly established itself as a significant player in the biotechnology field.
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