Kymera Therapeutics falls after launching $250 mln stock offering
Kymera Therapeutics' KYMR.O shares off 5.2% at $44.04 after hours as co looks to raise equity
Watertown, Massachusetts-based firm commences $250 mln stock offering
It intends to use net proceeds to advance its pipeline of degrader medicines for immunological diseases
Morgan Stanley, J.P. Morgan, Jefferies, TD Cowen and Leerink joint book-running managers for the offering
Earlier Weds, Gilead Sciences GILD.O inked up to $750 mln cancer drug deal with Kymera
Separately, Kymera said Sanofi SASY.PA to advance its KT-485 drug candidate into clinical testing, and co is eligible for up to $975 mln in collaboration milestone payments
KYMR shares finished regular session on Weds down 1.4% at $46.47
Co has 65.1 mln shares outstanding for $3 bln market cap
Through Weds close, shares up 70% this quarter, putting them up 15.5% YTD
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