Oncology biotech Kronos Bio files for a $100 million IPO

Kronos Bio, a Phase 2 biotech developing kinase inhibitor therapies for leukemia and solid tumors, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The company's lead candidate, entospletinib (ENTO), is an orally administered, selective spleen tyrosine kinase inhibitor that has been tested in 148 acute myeloid leukemia (AML) patients. Based on clinical results in a biomarker-defined subset of patients and subject to discussions with regulatory agencies planned for the 1H21, the company plans to initiate a registrational Phase 2/3 trial in 2021, with data readout expected in 2023. 

The San Mateo, CA-based company was founded in 2017 and plans to list on the Nasdaq under the symbol KRON. Kronos Bio filed confidentially on July 31, 2020. Goldman Sachs, Jefferies, Cowen and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Oncology biotech Kronos Bio files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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