Kymera Therapeutics Prices Offering Of $275 Mln Of Shares

(RTTNews) - Kymera Therapeutics, Inc. (KYMR) on Friday announced the pricing of its underwritten public offering of $275 million of shares and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares.

Kymera is planning to sell 2,250,495 shares and, instead of common stock to certain investors, pre-funded warrants to purchase 8,640,594 shares. The shares are being sold at $25.25 per share and the pre-funded warrants are at $25.2499 per pre-funded warrants.

In addition, Kymera has granted the underwriters a 30-day option to purchase up to an additional $41.25 million of shares.

All of the securities being sold in this offering, expected to be closed on January 9, are being offered by Kymera. The gross proceeds to Kymera from the offering are expected to be around $275 million.

Kymera intends to use the net proceeds to continue to advance its pipeline of preclinical and clinical degrader programs that are designed to address large patient populations with significant need and clear commercial opportunity, and for working capital and general corporate purposes.

KYMR was trading down by 0.81 percent at $27 per share in the pre-market trade on the Nasdaq.