Kinnate Biopharma upsizes IPO and prices above range at $20 a share

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Kinnate Biopharma upsized its initial public offering on Wednesday and priced it at $20 a share, above its $18 to $19 proposed price range. The company sold 12 million shares, or more than the 11.5 million it originally planned, to raise $240 million. Kinnate has applied to list on Nasdaq, under the ticker “KNTE.” Goldman Sachs, SVB Leerink, Piper Sandler and Webush PacGrow are underwriting the deal. Proceeds will be used to fund clinical trials, for R&D and other general corporate purposes. “We are a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers,” the company says in its prospectus.
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