Kairos Pharma Sets $6.2M IPO Price

Kairos Pharma, Ltd., a biopharmaceutical firm based in Los Angeles, has officially priced its initial public offering (IPO), marking a significant step forward in its mission to combat cancer. The company, which focuses on developing therapies to counteract cancer drug resistance and immune suppression, is offering 1.55 million shares of common stock at $4.00 per share. Additionally, the underwriters have a 45-day option to purchase an extra 232,500 shares at the same price to cover any over-allotments.

The shares have been approved for listing on the NYSE American LLC, trading under the symbol "KAPA," and trading is set to commence on September 16, 2024. The gross proceeds from this offering are projected to be approximately $6.2 million, before accounting for underwriting fees and other expenses. The IPO is expected to close around September 17, 2024, contingent on customary closing conditions being met.

Kairos Pharma plans to utilize the net proceeds to advance its clinical trials for its lead product, ENV 105. This includes a Phase 1 trial for lung cancer and a Phase 2 trial for prostate cancer. ENV 105 is designed to counteract resistance to standard cancer treatments. The funds will also support the development of other preclinical candidates, such as KROS 101, a small molecule agonist aimed at promoting T cell growth and enhancing their cytotoxic functionality against cancer.

Boustead Securities, LLC is the primary managing underwriter for the offering, with EF Hutton LLC acting as the co-managing underwriter. The registration statement for the offering, filed under Form S-1, received approval from the Securities and Exchange Commission (SEC) on September 16, 2024. The offering will be conducted exclusively through a prospectus, with electronic copies of the final prospectus available on the SEC's website upon release.

Kairos Pharma, Ltd. is dedicated to developing a robust pipeline of oncology therapeutics based on structural biology. The company's innovative approach aims to overcome both drug resistance and the immune suppression effects of cancer, positioning itself at the forefront of cancer treatment advancements. The company’s focus is on creating treatments that significantly improve the effectiveness of existing cancer therapies.

In summary, the IPO signifies a major milestone for Kairos Pharma, providing the necessary funds to propel its promising cancer therapies through clinical trials and closer to regulatory approval. The company's strategic focus on reversing drug resistance and immune suppression holds great promise for the future of cancer treatment.