Kymera Therapeutics (KYMR) Prices $225M Offering at $40.75/sh

Kymera Therapeutics, Inc. (NASDAQ: KYMR) today announced the pricing of its underwritten public offering of $225 million of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock. Kymera is selling 2,002,313 shares of common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase 3,519,159 shares of common stock in the offering. The shares of common stock are being sold at a public offering price of $40.75 per share and the pre-funded warrants are being sold at a public offering price of $40.7499 per pre-funded warrant, which represents the per share public offering price of each share of common stock, less the $0.0001 per share exercise price for each pre-funded warrant. In addition, Kymera has granted the underwriters a 30-day option to purchase up to an additional 828,220 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. The gross proceeds to Kymera from the offering are expected to be approximately $225 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Kymera, excluding the exercise of any pre-funded warrants and assuming no exercise of the underwriters’ option to purchase additional shares. All of the securities being sold in this offering are being offered by Kymera. The offering is expected to close on August 21, 2024, subject to the satisfaction of customary closing conditions.

Kymera intends to use the net proceeds from the offering 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 other general corporate purposes. Kymera may also use a portion of the net proceeds to in-license, acquire or invest in complementary businesses or technologies to continue to build its pipeline, research and development capabilities and its intellectual property position.

Morgan Stanley, J.P. Morgan, TD Cowen and Stifel are acting as joint book-running managers for the offering.

The securities described above are being offered pursuant to an automatically effective shelf registration statement on Form S-3 (No. 333-259955) that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 1, 2021. This offering is being made only by means of a prospectus supplement and an accompanying prospectus that form a part of the registration statement.

A final prospectus supplement related to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and an accompanying prospectus related to the offering may also be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] and [email protected]; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846, or by email at [email protected]; and Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

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