Kailera Therapeutics filed for an initial public offering in the United States on Friday, becoming the latest biotechnology company seeking to attract investors as listings in this sector gain momentum.
American companies have continued with their IPO plans even as the Middle East conflict threatens to shake investors’ appetite for risk.
Shares of Generate Biomedicines, supported by the flagship company, dropped over 6% during their debut on the Nasdaq last month, giving the drug developer a valuation of $1.91 billion.
Kailera, based in Waltham, Massachusetts, is developing drugs for obesity aimed at helping patients lose weight.
The demand for obesity drugs has surged, fueling intense competition among drug manufacturers such as Novo Nordisk and Eli Lilly, who currently lead the race.
At the beginning of the year, Kailera and its partner Jiangsu Hengrui Pharmaceuticals announced that their experimental oral obesity drug had helped patients lose up to 12.1% of their body weight after 26 weeks in an intermediate study in China.
Kailera, launched in October 2024 with $400 million in startup funding and four obesity drug candidates licensed from Hengrui, has applied to be listed on the Nasdaq under the symbol “KLRA.”
JPMorgan, Jefferies, Leerink Partners, TD Cowen, Evercore ISI, and William Blair are among the offering’s underwriters.
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