Kalaris Therapeutics Raises Approximately $50M in Private Placement
Kalaris Therapeutics announced that it has entered into a securities purchase agreement with a select group of institutional accredited investors to sell securities in a private placement for aggregate gross proceeds of approximately $50M, before deducting placement agent fees and other offering expenses. The private placement includes participation from both new and existing investors, including ADAR1 Capital Management, Coastlands Capital, Invus, RTW Investments, Samsara BioCapital, Woodline Partners LP and others. In the private placement, pursuant to the terms of the securities purchase agreement, Kalaris is selling an aggregate of (i) 4,200,000 shares of its common stock at a price of $10.00 per share and, (ii) in lieu of common stock to certain investors, pre-funded warrants to purchase 800,000 shares of Common Stock at a price of $9.9999 per pre-funded warrant. Each pre-funded warrant has an exercise price of $0.0001 per share, will be exercisable at any time after the date of issuance, subject to certain beneficial ownership limitations set by each holder, and will remain exercisable until exercised in full. The per share price of the securities to be sold in the private placement were priced at a premium to the closing price of Kalaris' common stock on The Nasdaq Global Market over the prior five trading days. The private placement is expected to close on or about December 19, 2025, subject to satisfaction of customary closing conditions. Morgan Stanley and Leerink Partners are acting as lead placement agents in the private placement. William Blair is also acting as placement agent in the private placement.
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Kalaris Gains Momentum with Promising Initial Results from Neovascular AMD Trial and $50 Million Financing Support
Positive Phase 1a Data: Kalaris Therapeutics reported promising initial Phase 1a results for its therapy TH103 in treating neovascular age-related macular degeneration (nAMD), showing significant improvements in visual acuity and anatomical changes after one month.
Enhanced Treatment Durability: The therapy demonstrated a potential for extended durability, with 31% of patients not requiring additional anti-VEGF treatment during a six-month follow-up, and pharmacokinetic analysis indicating better intraocular retention compared to existing treatments.
Financial Support: Kalaris secured $50 million in oversubscribed financing, which will extend its cash runway into the third quarter of 2027 and support the ongoing development of TH103 and other corporate needs.
Stock Performance: Following the positive news, Kalaris shares surged 20%, closing at $10.42, with a trading range between $2.14 and $12.90 over the past year.
Kalaris Therapeutics Secures $50 Million in Private Placement Financing
- Financing Size: Kalaris Therapeutics has entered into a securities purchase agreement to raise approximately $50 million through a private placement, which will be utilized to advance the clinical development of TH103 and for general corporate purposes, thereby enhancing its market position in retinal disease treatments.
- Investor Participation: The financing attracted both new and existing investors, including ADAR1 Capital and Coastlands Capital, reflecting strong market confidence in Kalaris' future prospects and potentially boosting its reputation in the biopharmaceutical industry.
- Share Issuance Details: Kalaris is selling 4.2 million shares of common stock at $10.00 per share, along with pre-funded warrants at $9.9999, which enhances the flexibility and attractiveness of the funding structure.
- Use of Funds Plan: Kalaris expects that the net proceeds from this placement, combined with existing cash, will fund operations into the third quarter of 2027, ensuring continued investment in clinical development and market outreach, driving long-term growth in a competitive biopharmaceutical landscape.
Kalaris Therapeutics Secures $50 Million in Private Placement Financing
- Financing Scale: Kalaris Therapeutics has entered into a securities purchase agreement with institutional investors to raise approximately $50 million through a private placement, reflecting market confidence in its retinal disease treatments.
- Share Sale Details: The financing includes the sale of 4.2 million shares of common stock at $10.00 per share and 800,000 pre-funded warrants at $9.9999 each, enhancing the company's capital structure.
- Use of Funds: Kalaris intends to use the net proceeds from this placement to advance the clinical development of TH103 and for working capital and other general corporate purposes, with expectations to fund operations into the third quarter of 2027.
- Market Reaction: The share price for this private placement was set at a premium to the closing price over the past five trading days, indicating investor optimism about Kalaris's future growth, which may positively impact its stock price.
Kalaris TH103 Shows Significant Visual Improvement in Initial Clinical Trial Data
- Significant Visual Improvement: Kalaris' TH103 demonstrated an average 10-letter gain in best corrected visual acuity (BCVA) within one month, indicating its effectiveness in treating treatment-naïve patients with neovascular age-related macular degeneration (nAMD), potentially transforming patient outcomes.
- Anatomical Structure Enhancement: Over a six-month follow-up, TH103 achieved an average improvement of 129 micrometers in central subfield thickness (CST) and approximately 95% reduction in central subfield intraretinal fluid (IRF), highlighting its advantages in intraocular retention and anti-VEGF activity.
- Good Tolerability: The trial reported no dose-limiting toxicities (DLTs) or serious adverse events (SAEs), supporting further dose escalation and indicating TH103's safety and potential for long-term use.
- Accelerated Clinical Development: Kalaris plans to expedite patient enrollment in its ongoing Phase 1b/2 multi-ascending dose study, with preliminary data expected in the second half of 2026, reflecting the company's strong confidence in TH103's clinical prospects.
Monday's Underperforming Sectors: Biotechnology, Electronic Equipment, and Products
Market Performance: Electronic equipment and products shares are down approximately 2.3% on Monday, with notable declines from ESS Tech and Hyperscale Data, which fell by 10.9% and 8.4%, respectively.
Sector Laggards: The biotechnology sector is also highlighted as a laggard alongside electronic equipment and products in the market on Monday.
Author's Perspective: The views expressed in the article are solely those of the author and do not necessarily represent the opinions of Nasdaq, Inc.
Video Content: A video segment is mentioned that discusses the sector laggards, specifically focusing on biotechnology and electronic equipment and products.
Kalaris Enhances Leadership by Appointing Matthew Gall, MBA, as CFO
CFO Appointment: Kalaris Therapeutics has appointed Matthew Gall as Chief Financial Officer to enhance its leadership team and support the company's growth, particularly as it begins a Phase 1b/2 study for treatment-naïve nAMD patients.
Leadership Experience: Matthew Gall brings extensive experience from previous roles at iTeos Therapeutics, Sarepta Therapeutics, Celgene Corporation, and Gilead Sciences, where he focused on financial operations and business development.
Company Mission: Kalaris Therapeutics is dedicated to developing treatments for retinal diseases, aiming to address significant unmet medical needs, particularly in conditions like neovascular age-related macular degeneration (nAMD).
Forward-Looking Statements: The press release includes forward-looking statements regarding Kalaris' future operations and clinical development, highlighting potential risks and uncertainties that could affect the company's plans and outcomes.
Kalaris Gains Momentum with Promising Initial Results from Neovascular AMD Trial and $50 Million Financing Support
Positive Phase 1a Data: Kalaris Therapeutics reported promising initial Phase 1a results for its therapy TH103 in treating neovascular age-related macular degeneration (nAMD), showing significant improvements in visual acuity and anatomical changes after one month.
Enhanced Treatment Durability: The therapy demonstrated a potential for extended durability, with 31% of patients not requiring additional anti-VEGF treatment during a six-month follow-up, and pharmacokinetic analysis indicating better intraocular retention compared to existing treatments.
Financial Support: Kalaris secured $50 million in oversubscribed financing, which will extend its cash runway into the third quarter of 2027 and support the ongoing development of TH103 and other corporate needs.
Stock Performance: Following the positive news, Kalaris shares surged 20%, closing at $10.42, with a trading range between $2.14 and $12.90 over the past year.
Kalaris Therapeutics Secures $50 Million in Private Placement Financing
- Financing Size: Kalaris Therapeutics has entered into a securities purchase agreement to raise approximately $50 million through a private placement, which will be utilized to advance the clinical development of TH103 and for general corporate purposes, thereby enhancing its market position in retinal disease treatments.
- Investor Participation: The financing attracted both new and existing investors, including ADAR1 Capital and Coastlands Capital, reflecting strong market confidence in Kalaris' future prospects and potentially boosting its reputation in the biopharmaceutical industry.
- Share Issuance Details: Kalaris is selling 4.2 million shares of common stock at $10.00 per share, along with pre-funded warrants at $9.9999, which enhances the flexibility and attractiveness of the funding structure.
- Use of Funds Plan: Kalaris expects that the net proceeds from this placement, combined with existing cash, will fund operations into the third quarter of 2027, ensuring continued investment in clinical development and market outreach, driving long-term growth in a competitive biopharmaceutical landscape.
Kalaris Therapeutics Secures $50 Million in Private Placement Financing
- Financing Scale: Kalaris Therapeutics has entered into a securities purchase agreement with institutional investors to raise approximately $50 million through a private placement, reflecting market confidence in its retinal disease treatments.
- Share Sale Details: The financing includes the sale of 4.2 million shares of common stock at $10.00 per share and 800,000 pre-funded warrants at $9.9999 each, enhancing the company's capital structure.
- Use of Funds: Kalaris intends to use the net proceeds from this placement to advance the clinical development of TH103 and for working capital and other general corporate purposes, with expectations to fund operations into the third quarter of 2027.
- Market Reaction: The share price for this private placement was set at a premium to the closing price over the past five trading days, indicating investor optimism about Kalaris's future growth, which may positively impact its stock price.
Kalaris TH103 Shows Significant Visual Improvement in Initial Clinical Trial Data
- Significant Visual Improvement: Kalaris' TH103 demonstrated an average 10-letter gain in best corrected visual acuity (BCVA) within one month, indicating its effectiveness in treating treatment-naïve patients with neovascular age-related macular degeneration (nAMD), potentially transforming patient outcomes.
- Anatomical Structure Enhancement: Over a six-month follow-up, TH103 achieved an average improvement of 129 micrometers in central subfield thickness (CST) and approximately 95% reduction in central subfield intraretinal fluid (IRF), highlighting its advantages in intraocular retention and anti-VEGF activity.
- Good Tolerability: The trial reported no dose-limiting toxicities (DLTs) or serious adverse events (SAEs), supporting further dose escalation and indicating TH103's safety and potential for long-term use.
- Accelerated Clinical Development: Kalaris plans to expedite patient enrollment in its ongoing Phase 1b/2 multi-ascending dose study, with preliminary data expected in the second half of 2026, reflecting the company's strong confidence in TH103's clinical prospects.
Monday's Underperforming Sectors: Biotechnology, Electronic Equipment, and Products
Market Performance: Electronic equipment and products shares are down approximately 2.3% on Monday, with notable declines from ESS Tech and Hyperscale Data, which fell by 10.9% and 8.4%, respectively.
Sector Laggards: The biotechnology sector is also highlighted as a laggard alongside electronic equipment and products in the market on Monday.
Author's Perspective: The views expressed in the article are solely those of the author and do not necessarily represent the opinions of Nasdaq, Inc.
Video Content: A video segment is mentioned that discusses the sector laggards, specifically focusing on biotechnology and electronic equipment and products.
Kalaris Enhances Leadership by Appointing Matthew Gall, MBA, as CFO
CFO Appointment: Kalaris Therapeutics has appointed Matthew Gall as Chief Financial Officer to enhance its leadership team and support the company's growth, particularly as it begins a Phase 1b/2 study for treatment-naïve nAMD patients.
Leadership Experience: Matthew Gall brings extensive experience from previous roles at iTeos Therapeutics, Sarepta Therapeutics, Celgene Corporation, and Gilead Sciences, where he focused on financial operations and business development.
Company Mission: Kalaris Therapeutics is dedicated to developing treatments for retinal diseases, aiming to address significant unmet medical needs, particularly in conditions like neovascular age-related macular degeneration (nAMD).
Forward-Looking Statements: The press release includes forward-looking statements regarding Kalaris' future operations and clinical development, highlighting potential risks and uncertainties that could affect the company's plans and outcomes.
