KLDO - Kaleido Biosciences announces $50M proposed public offering

Kaleido Biosciences (KLDO) announced that it intends to sell $50M of shares in an underwritten public offering.The company also intends to grant the underwriters a 30-day option to purchase an additional $7.5M of shares.Kaleido plans to use proceeds from the offering to fund its continued research and development activities, including the completion of the ongoing clinical studies of KB109 in patients with mild-to-moderate COVID-19, among other things.Morgan Stanley and Piper Sandler are acting as joint book-running managers for the offering.

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Kaleido Biosciences announces $50M proposed public offering