Kymera Announces $150M Private Placement Equity Financing

WATERTOWN, Mass., Aug. 19, 2022 (GLOBE NEWSWIRE) — Kymera Therapeutics, Inc. (NASDAQ:KYMR), a clinical-stage biopharmaceutical company advancing targeted protein degradation to deliver novel small molecule protein degrader medicines, has entered into a securities purchase agreement with certain existing and new accredited investors to issue and sell an aggregate of 2,769,228 shares of its common stock (“Common Stock”) at a price of $26.00 per share and pre-funded warrants (“Pre-Funded Warrants”) to purchase up to an aggregate of 3,000,000 shares of Common Stock at a purchase price of $25.9999 per pre-funded warrant share, through a private investment in public equity (“PIPE”) financing. The Pre-Funded Warrants will have an exercise price of $0.0001 per share of Common Stock, be immediately exercisable and remain exercisable until exercised in full. Kymera anticipates the gross proceeds from the PIPE to be approximately $150.0 million, before deducting offering expenses. The financing is expected to close on August 22, 2022, subject to customary closing conditions. Proceeds from the financing will support Kymera’s ongoing research and development activities as well as general corporate purposes and working capital.