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Kymera Therapeutics sets IPO terms

August 18, 2020

Kymera Therapeutics (KYMR) has filed an amended preliminary prospectus for an IPO of 7.36M shares at $16-18, expected to yield $125M at the midpoint.

The company plans to issue an additional 498,419 shares ($8.5M at the proposed midpoint) in a concurrent private placement to insider Vertex Pharmaceuticals.

Combined proceeds will be used for development of IRAK4 program, IRAKIMiD and STAT3 program, for preclinical studies and general corporate purposes.

2020 Financials (H1): Collaboration Revenue: $6.7M vs. $0.2M in H1 2019; Net Loss: ($24.9M) (-85.8%); Cash Burn: ($23.5M) (-157.0%).

Below is the current status of the company’s drug development pipeline:

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