Kairos Pharma, a Phase 2 biotech developing therapies for cancer, announced terms for its IPO on Wednesday.
The Los Angeles, CA-based company plans to raise $6 million by offering 1.6 million shares at $4. At the proposed price, Kairos Pharma would command a market value of just under $50 million.
Because the company is expected to have a market cap of less than $50 million at pricing, Kairos Pharma will be excluded from Renaissance Capital's 2024 IPO stats.
Kairos Pharma is focused on advancing therapeutics for cancer patients that are designed to overcome key hurdles in immune suppression and drug resistance. Bolstered by its 2021 acquisition of Enviro Therapeutics, the company's pipeline contains seven candidates, including KROS drugs (immunotherapies) and ENV antibodies. Its most advanced candidates include KROS 201, an autologous T cell therapy that is undergoing preparation for a Phase 1 trial in recurrent glioblastoma, and ENV 105, an antibody targeting CD105/Endoglin that is being tested in a randomized multicenter Phase 2 trial for prostate cancer and a Phase 1 trial in lung cancer, both of which began enrolling patients in September 2023.
Kairos Pharma was founded in 2013 and plans to list on the NYSE American under the symbol KAPA. Boustead Securities is the sole bookrunner on the deal.
