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.
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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.
