LOS ANGELES, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Kairos Pharma, Ltd. ("Kairos Pharma" or the "Company"), a clinical stage biopharmaceutical company developing cancer therapeutics designed to reverse cancer drug resistance and immune suppression, announces the pricing of its initial public offering of 1,550,000 shares of common stock at a public offering price of $4.00 per share. In addition, the Company has granted to the underwriters a 45-day option to purchase up to an additional 232,500 shares of common stock at the public offering price of $4.00 per share, less underwriting discounts and commissions, to cover over-allotments, if any. The Company's common stock has been approved for listing on the NYSE American LLC ("NYSE American"). Trading is expected to begin on September 16, 2024 under the symbol "KAPA."
The gross proceeds from the offering, before deducting underwriting fees and other offering expenses payable by the Company, are expected to be $6.2 million. The offering is expected to close on or about September 17, 2024, subject to the satisfaction of customary closing conditions. 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.
Boustead Securities, LLC is acting ...
