Kailera Therapeutics (KLRA), a biotech targeting obesity, upsized its IPO at pricing to 39.06 million shares – up from 33.33 million in the prospectus – and priced the deal at $16.00 – the top of its $14.00-to-$16.00 range – to raise $624.96 million on Thursday night, April 16, 2026. Kailera Therapeutics’ stock is expected to start trading on Friday, April 17, on the NASDAQ.
At pricing, Kailera Therapeutics had a market cap of $1.98 billion.
J.P.Morgan, Jefferies and Leerink led the joint book-running team, which included TD Cowen, Evercore ISI and William Blair.
Kailera Therapeutics is developing a once weekly GLP-1 shot and a once daily GLP-1 pill to help people lose weight, the prospectus said.
Bain Capital Private Equity, Bain Capital Life Sciences and Qatar Investment Authority – all existing stockholders – had indicated an interest in buying up to $225 million of stock in the IPO, the prospectus said.
Kailera Therapeutics is not profitable, which is common for biotechs when they go public. Kailera Therapeutics had a net loss of $149 million on no revenue for the 12 months that ended Dec. 31, 2025, according to financial statements in the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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