Summary
- Kinnate Biopharma aims to raise $170 million in an IPO.
- The firm is developing kinase inhibitor-based treatment candidates for various cancers.
- KNTE has produced promising results in preclinical studies, but is still extremely high risk; the IPO may be more suited to long-term hold institutional investors.
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Quick Take
Kinnate Biopharma (KNTE) intends to raise $170 million from the sale of its common stock in an IPO, according to an amended registration statement.
The company is a preclinical stage biopharma developing treatments for various cancers.
KNTE has produced intriguing preclinical results but the firm is still at a very early and high risk stage.
The IPO may be more suited to institutional investors with long-term hold time frames, so I'll pass on the IPO.
Company & Technology
San Diego, California-based Kinnate was founded to create its Kinnate Discovery Engine and focus its efforts on three patient populations with the following cancer characteristics:
- Cancers contain known oncogenic drivers - gene mutations
- Cancers with 'genomically well-characterized tumors that have intrinsic resistance to currently available treatments.
- Cancers that have acquired resistance over the course of existing treatment therapy attempts.
Management is headed by president and CEO Mr. Nima Farzan, who has been with the firm since March 2020 and was previously an advisor to Emergent BioSolutions and MODA Pharmaceuticals.
Below is a brief overview video of kinase inhibitors and immunomodulatory drugs:
