RHHBY - Kinnate Biopharma increases IPO size by 25% to $213M

Kinnate Biopharma (KNTE) has raised the proposed deal size for its upcoming IPO.The company now plans to raise $213M by offering 11.5M shares at a price range of $18 to $19 vs. original offering of 10M shares at a range of $16 to $18.Kinnate is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Its lead candidate, KIN002787, is a Rapidly Accelerated Fibrosarcoma (RAF) inhibitor for the treatment of patients with lung cancer, melanoma, and other solid tumors. The company expects to file an IND for KIN002787 in the 1H21.Below is the current status of the company’s drug development pipeline:According to a 2019 market research report by Transparency Market Research, the global market for kinase inhibitors was $46.4B in 2018 and is expected to reach $63.5B by 2027, representing a forecast CAGR of around 4% from 2019 to 2027.The company's major competitors that provide or are developing

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Kinnate Biopharma increases IPO size by 25% to $213M