Kiniksa Files for Proposed Public $180 Million Proposed Public Offering and Additional Private Placement

January 29, 2019

Kiniksa Pharmaceuticals, Ltd. (Nasdaq: KNSA) (“Kiniksa,” “we,” and “our”) announced on 1/28/19 that it is commencing a public offering of 8,000,000 Class A common shares. In addition, Kiniksa expects to grant the underwriters a 30-day option to purchase up to 1,200,000 additional Class A common shares. All of the Class A common shares are being offered by Kiniksa. The SEC filing can be found here. https://www.sec.gov/Archives/edgar/data/1730430/000110465919003712/a18-4...

Concurrent with the public offering, Kiniksa intends to sell, subject to the consummation of the public offering and other customary conditions, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), 2,000,000 Class A1 common shares to one or more existing shareholders affiliated with certain of Kiniksa’s directors at a sale price equal to the price to the public in the public offering. However, the consummation of the public offering is not contingent on the consummation of this concurrent private placement.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Barclays Capital Inc. are acting as joint book-running managers for the public offering. Wedbush Securities Inc. and JMP Securities LLC are acting as co-managers for the public offering.

Kiniksa has a pipeline of five candidates focused on autoinflammatory and autoimmune conditions and have the potential to address multiple indications. Rilonacept, for recurrent pericarditis is currently in Ph III trials.
 
The company is lead by CEO, Sanj K. Patel. Sanj previously created Synageva in 2008 to focus on rare diseases and designed and initiated its lead program (Kanuma®) for Lysosomal Acid Lipase Deficiency (LAL Deficiency) in July 2008. Kanuma was approved globally in 2015 as the first therapy for patients suffering from this devastating disease. He took the company public on the NASDAQ Global Market in November 2011 and raised over $1 billion in capital in less than 5 years. In June 2015, Synageva was sold to Alexion Pharmaceuticals for $9.5B (including cash), which represented the highest premium ever paid for a biotech company valued over $5B.


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