WASHINGTON (dpa-AFX) - Kairos Pharma, Ltd. Monday announced the pricing of its initial public offering of 1.55 million shares of common stock at $4.00 per share.
The clinical stage company has granted to the underwriters a 45-day option to purchase up to an additional 232,500 shares of common stock. Trading will begin on September 16, 2024 under the symbol 'KAPA.'
The gross proceeds from the offering are expected to be $6.2 million and the offering is expected to close on or about September 17, 2024.
The Company intends to use the net proceeds from the offering to fund its Phase 1 trial in lung cancer and Phase 2 trial in prostate cancer for its lead product candidate ENV 105, designed to reverse resistance to standard of care drugs. The proceeds will also advance preclinical candidates, including KROS 101, a small molecule agonist for the GITR ligand, designed to promote T cell growth and cytotoxic function against cancer.
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