Kailera raises $625 million in IPO, shares close 63% above price
The Waltham obesity biotech is developing four GLP-1-based candidates licensed from China's Jiangsu Hengrui, including a weekly injection and a daily oral.
TR
By Tom Reyes · Markets Editor
Apr 17 03:00 ETSource: The Boston Globe
The wire
- 01Kailera Therapeutics shares closed at $26 versus a $16 IPO price after an upsized $625 million offering, valuing the company near $3.1 billion.
- 02The financing funds a late clinical-stage pipeline of four GLP-1-based weight-loss drugs aimed at patients with BMI over 35, where CEO Ronald Renaud says oral agents are less effective.
- 03Kailera has yet to report pivotal data in the US; its assets are licensed from Jiangsu Hengrui, and Bain Capital affiliates hold about a third of the company.
From the source
Read at bostonglobe.comObesity drugmaker Kailera soars 63% after $625 million IPO
Kailera Therapeutics Inc. shares surged 63 percent after the clinical-stage biotechnology company focused on obesity raised $625 million in an upsized US initial public offering.
