Kinnate Biopharma (Nasdaq: KNTE) announced the completion of its IPO, successfully offering 13,800,000 shares at $20.00 each, raising approximately $276.0 million gross proceeds. The offering included the full exercise of the underwriters' option for 1,800,000 additional shares. Shares commenced trading on the Nasdaq Global Select Market on December 3, 2020. Kinnate focuses on developing small molecule kinase inhibitors for challenging, genomically defined cancers, aiming to enhance targeted therapies for underserved patient populations.
Kinnate Biopharma Inc. (Nasdaq: KNTE) announced the pricing of its initial public offering (IPO) of 12,000,000 shares at $20.00 per share, aiming for gross proceeds of $240 million. The IPO is set to close on December 7, 2020, pending customary closing conditions. Kinnate's stock will begin trading on the Nasdaq Global Select Market on December 3, 2020. Goldman Sachs, SVB Leerink, and Piper Sandler are the joint book-running managers for the IPO. Additionally, underwriters have a 30-day option to purchase 1,800,000 additional shares at the initial offering price.