Kindred Biosciences has priced its IPO of 5,750,000 shares at between $6 and $8 per share. BMO Capital Markets and Guggenheim Securities will act as lead underwriters. The company will trade the stock on the NASDAQ under the ticker symbol “KIN.” Based in San Francisco, Kindred Biosciences is a veterinary biotechnology company. Its backers include Adage Capital Partners and EcoR1 Capital Fund.
SAN FRANCISCO, CA–(Marketwired – Dec 2, 2013) – Kindred Biosciences, Inc. (Kindred Bio), a biopharmaceutical company focused on saving and improving the lives of pets, announced the commencement of its initial public offering of 5,750,000 shares of its common stock, at an anticipated initial public offering price between $6.00 and $8.00 per share. Kindred Bio also expects to grant the underwriters a 30-day option to purchase up to an additional 862,500 shares of Kindred Bio’s common stock to cover over-allotments, if any. All shares of the common stock to be sold in the offering will be offered by the Company. Kindred Bio has applied to list its common stock on the NASDAQ Capital Market under the symbol “KIN.”
BMO Capital Markets and Guggenheim Securities, LLC will act as book-running managers for the offering.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from BMO Capital Markets at 3 Times Square, 27th Floor, New York, NY 10036, Attention Equity Syndicate Department, by telephone at (800) 414-3627 or by email to [email protected] and from Guggenheim Securities, LLC at 330 Madison, 8th Floor, New York, NY 10017, Attention Equity Syndicate Department, by telephone at (212) 518-9349 or by email to [email protected]
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Kindred Biosciences
Kindred Biosciences is a development stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s core strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company’s lead product candidates are CereKin for the treatment of osteoarthritis pain and inflammation in dogs, AtoKin for the treatment of atopic dermatitis in dogs, and SentiKin for the treatment of post-operative pain in dogs.