Kineta, Inc. Successfully Closes Registered Direct Offering to Advance Novel Immunotherapies in Oncology

Seattle-based biotechnology company Kineta, Inc. has announced the successful completion of its registered direct offering, raising approximately $3 million in gross proceeds. The offering involved the purchase and sale of 890,208 shares of the company’s common stock, priced at $3.37 per share, or pre-funded warrants in lieu thereof. In addition, Kineta issued unregistered warrants to purchase up to 890,208 shares of common stock in a concurrent private placement.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering, which was made under Nasdaq rules. The net proceeds from the offering will be used for working capital purposes, furthering Kineta’s mission to develop next-generation immunotherapies that address cancer immune resistance.

Kineta is a clinical-stage biotechnology company focused on the development of novel immunotherapies in oncology. The company’s immuno-oncology pipeline includes KVA12123, a VISTA blocking immunotherapy currently in a Phase 1/2 clinical trial for patients with advanced solid tumors. Unlike competitive therapies targeting VISTA, KVA12123 has demonstrated strong monotherapy tumor growth inhibition in preclinical models without evidence of cytokine release syndrome (CRS) in clinical trial participants. This novel approach provides hope for patients with various types of cancer, including non-small cell lung, colorectal, renal cell carcinoma, head and neck, and ovarian cancer.

Kineta’s successful completion of this offering reflects the confidence investors have in the company’s innovative approach to addressing immune resistance in cancer treatment. With the additional funding, Kineta can continue advancing its promising immunotherapies and potentially transform the lives of patients battling cancer.

For more information about Kineta and its immunotherapy programs, please visit their website at www.kinetabio.com. Stay updated on Kineta’s latest developments by following them on Twitter, LinkedIn, and Facebook.