Kymera Therapeutics Announces Closing of Upsized Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Kymera Therapeutics (NASDAQ: KYMR) has completed an upsized public offering of 5,468,250 shares at a price of $47.00 per share, raising approximately $257.0 million in gross proceeds. The offering includes an additional 713,250 shares from underwriters' options. The funds will support Kymera's mission to develop novel small molecule protein degraders to tackle difficult disease targets. The company is focused on the treatment of immune-inflammatory diseases and certain cancers through its innovative Pegasus™ platform.

Positive

• Raised approximately $257.0 million in gross proceeds.
• Funds will support the development of novel small molecule protein degrader medicines.
• Innovative Pegasus™ platform aims to address high-impact disease targets.
• Focus on treating immune-inflammatory diseases and hematologic malignancies.

Negative

• Potential dilution of shares due to the public offering.

WATERTOWN, Mass., July 06, 2021 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, today announced the closing of its upsized underwritten public offering of 5,468,250 shares of its common stock at a public offering price of $47.00 per share, which includes 713,250 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $257.0 million.

Morgan Stanley, J.P. Morgan, Cowen, and Guggenheim Securities acted as joint book-running managers for the offering.

A registration statement relating to these securities became effective on June 30, 2021. The offering was made only by means of a prospectus, copies of which may 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, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attention: Prospectus Department, by telephone at (833) 297-2926; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell or the 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 any such state, province, territory or jurisdiction.

About Kymera Therapeutics
Kymera Therapeutics (Nasdaq: KYMR) is a clinical-stage biopharmaceutical company founded with the mission to discover, develop, and commercialize transformative therapies while leading the evolution of targeted protein degradation, a transformative new approach to address previously intractable disease targets. Kymera’s Pegasus™ platform enables the discovery of novel small molecule degraders designed to harness the body’s natural protein recycling machinery to degrade disease-causing proteins, with a focus on undrugged nodes in validated pathways currently inaccessible with conventional therapeutics. Kymera’s initial programs are IRAK4, IRAKIMiD, and STAT3, each of which addresses high impact targets within the IL-1R/TLR or JAK/STAT pathways, providing the opportunity to treat a broad range of immune-inflammatory diseases, hematologic malignancies, and solid tumors. Kymera’s goal is to be a fully integrated biopharmaceutical company at the forefront of this new class of protein degrader medicines, with a pipeline of novel degrader medicines targeting disease-causing proteins that were previously intractable.

Founded in 2016, Kymera is headquartered in Watertown, Mass. Kymera has been named a “Fierce 15” biotechnology company by FierceBiotech and has been recognized by the Boston Business Journal as one of Boston’s “Best Places to Work.”

Contact:
Paul Cox
VP, Investor Relations and Communications
pcox@kymeratx.com
917-754-0207

FAQ

What is the size and purpose of the recent public offering by Kymera Therapeutics?

Kymera Therapeutics completed a public offering of 5,468,250 shares at $47.00 per share, raising approximately $257.0 million, aimed at developing novel small molecule protein degrader medicines.

How might the public offering affect Kymera Therapeutics shareholders?

The public offering could lead to potential dilution of existing shares, impacting shareholder value.

When did Kymera Therapeutics announce the closing of its public offering?

Kymera Therapeutics announced the closing of its upsized public offering on July 6, 2021.

Who were the underwriters for Kymera Therapeutics' public offering?

Morgan Stanley, J.P. Morgan, Cowen, and Guggenheim Securities acted as joint book-running managers for the offering.