04:23 PM EDT, 08/19/2024 (MT Newswires) -- Kymera Therapeutics ( KYMR ) said late Monday that it kicked off a $200 million underwritten public offering of common shares and pre-funded warrants to purchase shares.

The company intends to grant underwriters a 30-day option to purchase up to $30 million additional shares in the offering.

Kymera intends to use the net proceeds to continue advancing its pipeline of preclinical and clinical degrader programs, as well as for working capital and other general corporate purposes.

The company may also use proceeds to in-license, acquire, or invest in complementary businesses or technologies.

Kymera shares were down more than 3% in after-hours activity.

Price: 43.00, Change: -1.55, Percent Change: -3.48