Kinnate Biopharma (KNTE) IPO Doubles on Open

Today's IPO for Kinnate Biopharma Inc. (NASDAQ: KNTE) opened for trading moments ago at $40 after pricing 12,000,000 shares of its common stock at a price to the public of $20.00 per share.

In addition, Kinnate has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of its common stock at the initial public offering price, less the underwriting discounts and commissions.

Goldman Sachs & Co. LLC, SVB Leerink LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.

Kinnate Biopharma is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Kinnate’s mission is to expand the reach of targeted therapeutics by developing products for underserved populations. Kinnate utilizes its deep expertise in structure-based drug discovery, translational research, and patient-driven precision medicine, which we refer to as the Kinnate Discovery Engine, to develop targeted therapies. Based in San Francisco and San Diego, California, the Kinnate team is composed of drug discovery experts supported by a distinguished group of scientific advisors.

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