Type of information: Private placement
Company: Krystal Biotech (USA - PA)
Amount: $60.0 million
Funding type: private placement
- Krystal Biotech currently intends to use the net proceeds from this offering, if any, together with its existing cash, cash equivalents and short-term investments:
- (i) to continue to advance KB103 through clinical trials;
- (ii) to advance the pre-clinical development of KB105 with clinical trials anticipated to commence in the first half of 2019
- (iii) to complete development of a good manufacturing practices certified manufacturing facility for scale-up production of its pipeline compounds and commencement of operations of that facility; and
- (iv) the balance for working capital and general corporate purposes, including research and development expenses and capital expenditures.
- • On October 18, 2018, Krystal Biotech announced that it has priced the previously announced underwritten public offering of 3,000,000 shares of its common stock, at a public offering price of $20.00 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock. The gross proceeds to the Company from this offering are expected to be approximately $60.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company. The offering is expected to close on or about October 23, 2018. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed.
- • On October 17, 2018, Krystal Biotech announced that it has commenced an underwritten public offering of $60.0 million of its common stock. The company intends to grant the underwriters a 30-day option to purchase additional $9.0 million of shares of its common stock. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares to be sold in the proposed offering will be sold by the company. Cowen, William Blair and Cantor are acting as joint book-running managers for the offering. Chardan is acting as the lead manager and Ladenburg Thalmann is acting as co-manager for the offering.
Therapeutic area: Rare diseases - Genetic diseases