Kinnate Biopharma Inc., a biopharmaceutical company developing drugs for difficult-to-treat, genomically defined cancers, is all set to make its debut on the Nasdaq Global Select Market on December 3, under the symbol “KNTE”.

The San Diego-based company has offered to sell 12 million shares of its common stock in the IPO at a price of $20.00 per share. The underwriters have a 30-day option to purchase up to an additional 1.8 million shares of common stock.

The offering, which is slated to close on December 7, is expected to rake in gross proceeds of $240.0 million.

Underwriters of the IPO:

Goldman Sachs & Co. LLC, SVB Leerink, Piper Sandler, and Wedbush PacGrow.

Pipeline & Near-term Catalysts:

The company’s pipeline includes preclinical compounds, which are small molecule kinase inhibitors.

Kinases are enzymes that regulate the biological activity of proteins. Mutated kinases can result in deregulated activity that results in cancerous cell proliferation. Kinase inhibition is an established approach to cancer control, and has been used for almost two decades.

Nearly, 50 small molecule protein kinase inhibitors have been approved by the FDA. The global sales of small molecule kinase inhibitors in oncology were $23 billion in 2019 and are estimated to grow to more than $50 billion in 2024, according to reports.

— The most advanced product candidate is KIN002787, which is a Rapidly Accelerated Fibrosarcoma (RAF) inhibitor, being developed for the treatment of patients with lung cancer, melanoma and other solid tumors. The company expects to file an investigational New Drug application (IND) for KIN002787 with the FDA, seeking clearance to initiate a phase I clinical trial, in the first half of 2021.

— Next up is the KIN003 program of Fibroblast Growth Factor Receptors (FGFR) inhibitor candidates for the treatment of patients with intrahepatic cholangiocarcinoma (ICC), a cancer of the bile ducts in the liver, and urothelial carcinoma (UC), a cancer of the bladder lining. This program is under lead optimization phase, i.e., the final stage in the pre-clinical drug development process. The company plans to file an IND for one of the FGFR candidates in the KIN003 program with the FDA in the first half of 2022.

— The third is KIN004 program, which includes a number of other small molecule research programs, including a Cyclin-Dependent Kinase 12 (CDK12) inhibitor, for the treatment of ovarian carcinoma, metastatic castration-resistant prostate cancer and triple-negative breast cancer.

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