Kaleido Biosciences Announces Proposed Public Offering of Common Stock
Morgan Stanley is acting as sole book-running manager for the offering. Canaccord Genuity is acting as lead manager for the offering.
Kaleido intends to use the net proceeds from the offering, in addition to its existing cash resources, to fund its continued research and development activities, including the ongoing clinical program of KB109 in patients with mild-to-moderate COVID-19, the ongoing Phase 2 clinical trial of KB195 in patients with urea cycle disorders, and the planned clinical study of KB295 in patients with mild-to-moderate ulcerative colitis, to fund any other research and development activities that relate to its current and future clinical and preclinical activities, and the remainder for planned general and administrative expenses, working capital and other general corporate purposes.
The securities described above are being offered by Kaleido pursuant to a shelf registration statement on Form S-3 (No. 333-236804), including a base prospectus. The securities will be offered only by means of a prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the completion of the proposed offering and the use of proceeds from the proposed offering. The use of words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify such forward-looking statements. All such forward-looking statements are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include fluctuations in our stock price, changes in market conditions and satisfaction of customary closing conditions related to the public offering and those risks more fully discussed in the section entitled "Risk Factors" in Kaleido’s annual report on Form 10-K for the fiscal year ended
Source: Kaleido Biosciences