Kalaris Therapeutics, a clinical-stage biopharmaceutical company, announced an oversubscribed private placement of $50.0 million.
The private placement involves a select group of institutional accredited investors.
Proceeds will fund operations into the third quarter of 2027, supporting the development of TH103 for neovascular AMD and other corporate purposes.
Private Placement Details
Includes sale of 4,200,000 shares of common stock at $10.00 per share and pre-funded warrants for 800,000 shares at $9.9999 per warrant.
Investor Participation
Institutional investors like ADAR1 Capital Management, Coastlands Capital, Invus, and others have participated in the private placement.
Financial Outlook
Current cash reserves, combined with the private placement proceeds, are expected to sustain operations through Q3 2027.
- The private placement was priced at a premium to the closing price of Kalaris' common stock on The Nasdaq Global Market.
- Lead placement agents for the private placement are Morgan Stanley and Leerink Partners, with William Blair also acting as a placement agent.
Kalaris Therapeutics' successful private placement underscores investor confidence in the company's vision and potential for treating prevalent retinal diseases. The funds raised will drive clinical development and corporate initiatives, positioning Kalaris for future growth and innovation.