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Kaleido Biosciences, Inc. (Nasdaq: KLDO) announced the pricing of a public offering of 4,750,000 shares at $7.50 per share, with gross proceeds expected to reach approximately $35.6 million. The underwriters have a 30-day option to buy an additional 712,500 shares. The offering is set to close on June 4, 2020. Proceeds will be utilized for ongoing clinical programs, including KB109 for COVID-19, KB195 for urea cycle disorders, and KB295 for ulcerative colitis, as well as general corporate purposes. Morgan Stanley serves as the sole book-running manager.
Kaleido Biosciences (Nasdaq: KLDO) announced its intent to sell $30 million of common stock in an underwritten public offering, with an additional $4.5 million option for underwriters. Proceeds will support ongoing research, including clinical programs for KB109 in COVID-19, KB195 for urea cycle disorders, and KB295 for ulcerative colitis, as well as general corporate purposes. Morgan Stanley is the sole book-running manager, and Canaccord Genuity is the lead manager. The offering is subject to market conditions and requires SEC compliance.
Kaleido Biosciences (Nasdaq: KLDO) announced the initiation of clinical studies for KB109 targeting outpatients with mild-to-moderate COVID-19, with data expected in Q4 2020. The firm is expanding its focus on immune-mediated and inflammatory diseases, with a new clinical study in ulcerative colitis planned for mid-2021. The first quarter 2020 saw a net loss of $19.6 million, a slight improvement from $20.2 million in Q1 2019. As of March 31, 2020, cash and cash equivalents were $53.8 million, extending the cash runway into Q1 2021.
Kaleido Biosciences (KLDO) has initiated a clinical study for its Microbiome Metabolic Therapy candidate KB109 aimed at outpatients with mild-to-moderate COVID-19. This controlled study involves approximately 400 patients across two non-IND studies, focusing on the effectiveness of KB109 alongside Supportive Self-Care. The goal is to evaluate clinical outcomes and the immune response. Initial results are expected in Q4 2020. The research aims to determine KB109's ability to enhance immune function and mitigate severe complications associated with COVID-19.