Kronos Bio, Inc., a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription, has announced the pricing of its initial public offering of 13,157,895 shares of its common stock at a price to the public of $19.00 per share. The gross proceeds to Kronos Bio from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $250.0 million. All of the shares are being offering by Kronos Bio. In addition, Kronos Bio has granted the underwriters a 30-day option to purchase up to an additional 1,973,684 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.
Latham & Watkins LLP represents the underwriters in the offering with a life sciences-focused capital markets team led by Bay Area partner Brian Cuneo, with Bay Area associates Phillip Stoup, Nimrah Khan, and Christopher Lim and Orange County associate Traci Biedermann. Advice was also provide on intellectual property matters by Bay Area partner Judith Hasko, with Bay Area associates Gavin Liu and Peggy Ni; on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associate Chad Jennings; on tax matters by Bay Area partner Grace Lee; and on benefits and compensation matters by Bay Area partner James Metz, with Bay Area associate James Robinson.