Kymera Therapeutics Announces Closing of Upsized $275 Million Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
10 January 2024 - 1:15AM
Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage
biopharmaceutical company advancing a new class of small molecule
medicines using targeted protein degradation (TPD), today announced
the closing of its upsized underwritten public offering of $275
million of shares of its common stock and, in lieu of common stock
to certain investors, pre-funded warrants to purchase shares of its
common stock. Kymera sold and issued 3,884,158 shares of its common
stock, which includes 1,633,663 shares sold and issued upon the
exercise in full by the underwriters of their option to purchase
additional shares of common stock and, in lieu of common stock to
certain investors, pre-funded warrants to purchase 8,640,594 shares
of its common stock in the offering. The shares of common stock
were sold at a public offering price of $25.25 per share and the
pre-funded warrants were sold at a public offering price of
$25.2499 per pre-funded warrant, which represents the per share
public offering price of each share of common stock less the
$0.0001 per share exercise price for each pre-funded warrant. The
gross proceeds to Kymera from the offering were approximately
$316.2 million, before deducting underwriting discounts and
commissions and estimated offering expenses payable by Kymera
Morgan Stanley, J.P. Morgan, and TD Cowen acted as joint lead
bookrunning managers for the offering. UBS Investment Bank also
acted as a bookrunning manager.
The securities described above were offered pursuant to an
automatically effective shelf registration statement on Form S-3
that was filed with the U.S. Securities and Exchange Commission
(SEC) on October 1, 2021. The offering was made only by means of a
prospectus supplement and an accompanying prospectus that form a
part of the registration statement. Copies of the final prospectus
supplement related to and describing the terms of the offering was
filed with the SEC and is available on the SEC’s website located at
www.sec.gov. Copies of the final prospectus supplement and an
accompanying prospectus related to the offering may also be
obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by
email at prospectus@morganstanley.com; J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone at (866) 803-9204, or via email at
prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, 599
Lexington Avenue, New York, NY 10022, by telephone at (833)
297-2926, or by email at Prospectus_ECM@cowen.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state, province, territory or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of that
state or jurisdiction.
About Kymera
TherapeuticsKymera Therapeutics (Nasdaq: KYMR) 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
dramatically improve patients’ lives. Kymera is deploying TPD to
address disease targets and pathways inaccessible with conventional
therapeutics. Having advanced the first degrader into the clinic
for immunological diseases, Kymera is focused on delivering oral
small molecule degraders to provide a new generation of convenient,
highly effective therapies for patients with these conditions.
Kymera is also progressing degrader oncology programs that target
undrugged or poorly drugged proteins to create new ways to fight
cancer. Founded in 2016, Kymera has been recognized as one of
Boston’s top workplaces for the past several years.
Investor Contact: Justine KoenigsbergVice
President, Investor
Relationsinvestors@kymeratx.com857-285-5300 |
Media Contact: Todd Cooper Senior Vice
President, Corporate
Affairsmedia@kymeratx.com857-285-5300 |
Kymera Therapeutics (NASDAQ:KYMR)
Historical Stock Chart
From May 2024 to Jun 2024
Kymera Therapeutics (NASDAQ:KYMR)
Historical Stock Chart
From Jun 2023 to Jun 2024