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.
