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Oncology biotech Kronos Bio files for a $100 million IPO

September 19, 2020

Kronos Bio, a Phase 2 biotech developing kinase inhibitor therapies for leukemia and solid tumors, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The company’s lead candidate, entospletinib (ENTO), is an orally administered, selective spleen tyrosine kinase inhibitor that has been tested in 148 acute myeloid leukemia (AML) patients. Based on clinical results in a biomarker-defined subset of patients and subject to discussions with regulatory agencies planned for the 1H21, the company plans to initiate a registrational Phase 2/3 trial in 2021, with data readout expected in 2023.¬†

The San Mateo, CA-based company was founded in 2017 and plans to list on the Nasdaq under the symbol KRON. Kronos Bio filed confidentially on July 31, 2020. Goldman Sachs, Jefferies, Cowen and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
Relevant Profile: KRON$100-million-IPO

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