Kymera Therapeutics Announces Closing of Upsized $275 Million Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

WATERTOWN, Mass., Jan. 09, 2024 (GLOBE NEWSWIRE) --Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of small molecule medicines using targeted protein degradation (TPD), today announced the closing of its upsized underwritten public offering of $275 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 sold and issued 3,884,158 shares of its common stock, which includes 1,633,663 shares sold and issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase 8,640,594 shares of its common stock in the offering. The shares of common stock were sold at a public offering price of $25.25 per share and the pre-funded warrants were sold at a public offering price of $25.2499 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. The gross proceeds to Kymera from the offering were approximately $316.2 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Kymera

Morgan Stanley, J.P. Morgan, and TD Cowen acted as joint lead bookrunning managers for the offering. UBS Investment Bank also acted as a bookrunning manager.

The securities described above were offered pursuant to an automatically effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (SEC) on October 1, 2021. The offering was made only by means of a prospectus supplement and an accompanying prospectus that form a part of the registration statement. Copies of the final prospectus supplement related to and describing the terms of the offering was filed with the SEC and is 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 from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or via email at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by telephone at (833) 297-2926, or by email at Prospectus_ECM@cowen.com.

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, province, territory 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.

AboutKymeraTherapeutics
Kymera Therapeutics (Nasdaq: KYMR) is a clinical-stage biotechnology company pioneering the field of targeted protein degradation (TPD) to develop medicines that address critical health problems and have the potential to dramatically improve patients’ lives. Kymera is deploying TPD to address disease targets and pathways inaccessible with conventional therapeutics. Having advanced the first degrader into the clinic for immunological diseases, Kymera is focused on delivering oral small molecule degraders to provide a new generation of convenient, highly effective therapies for patients with these conditions. Kymera is also progressing degrader oncology programs that target undrugged or poorly drugged proteins to create new ways to fight cancer. Founded in 2016, Kymera has been recognized as one of Boston’s top workplaces for the past several years.