Kymera Therapeutics Seeks To Raise Capital Via 4M Shares Equity Offering To Fund Oncology Franchises

Kymera Therapeutics Inc KYMR commenced an underwritten public offering of 4 million shares of common stock.
Underwriters can purchase up to an additional 600k shares.
Morgan Stanley, J.P. Morgan, Cowen, and Guggenheim Securities are acting as joint book-running managers for the proposed offering.
The proceeds will be used to fund the continued development of KT-474, KT 413, expansion of IRAK4 & IRAKIMiD oncology franchises.
Recently, the company announced interim results from the Single Ascending Dose portion of the Phase 1 trial of KT-474 in healthy volunteers.
KT-474 has exceeded the Phase 1 target degradation of 85% to date, with robust IRAK4 degradation after a single oral dose lasting for at least six days at all dose levels.
The company says that based on existing cash and cash equivalents and marketable securities of $435.2 million and net proceeds from this offering, it will be sufficient to fund our operations into 2025.
See the offering prospectus here.
Price Action: KYMR shares are down 0.4% at $47 during the premarket session on the last check Tuesday.