KDNY - Chinook Therapeutics prices upsized $160M share offering

Chinook Therapeutics (NASDAQ:KDNY) has priced its upsized underwritten public offering of 7,828,572 shares of its common stock at a price to the public of $14.00/share, for expected gross proceeds of $159.6M. In addition, it is offering pre-funded warrants to purchase 3,571,428 common shares at a price of $13.9999/pre-funded warrant. Chinook intends to grant the underwriters a 30-day option to purchase up to an additional 1.71M shares. Offering is expected to close on or about November 15, 2021. All of the securities are being offered by Chinook. Intends to use net proceeds to advance phase 3 ALIGN trial of atrasentan in patients with IgA nephropathy ((IgAN)) and the phase 2 AFFINITY basket trial of atrasentan in patients with proteinuric glomerular diseases, among other things. The remainder of the net proceeds, if any, will be used for general corporate purposes. Previously (Nov.08), Chinook Therapeutics proposes 6M share capital raise.

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Chinook Therapeutics prices upsized $160M share offering