Kymera Therapeutics announces $250M common stock offering

Kymera Therapeutics (KYMR) announced that it has commenced an underwritten public offering of $250M 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. All of the shares of common stock and pre-funded warrants to be sold in this offering are being offered by Kymera. 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. Morgan Stanley, J.P. Morgan, Jefferies, TD Cowen and Leerink Partners are acting as joint book-running managers for the offering.