Kalaris Expects Funds to Support Operations into Q3 2027
Based on its current operating plans, Kalaris expects its existing cash, cash equivalents, and short term investments, together with the net proceeds from the private placement, will enable it to fund operations into the third quarter of 2027. Kalaris intends to use the net proceeds from the private placement, together with its existing cash, cash equivalents, and short term investments to advance the clinical development of TH103 for neovascular AMD and for working capital and other general corporate purposes.
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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.
