KNTE Kinnate Biopharma Inc.

22.6
-0.54  -2%
Previous Close 23.14
Open 23.14
52 Week Low 17.58
52 Week High 48.75
Market Cap $987,077,713
Shares 43,676,005
Float 25,691,736
Enterprise Value $870,145,084
Volume 14,098
Av. Daily Volume 159,349
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Drug Pipeline

Drug Stage Notes
KIN-2787
Solid tumors
Phase 1
Phase 1
Phase 1 commencement of dosing announced August 16, 2021.
KIN-3248
Intrahepatic cholangiocarcinoma (ICC) and urothelial carcinoma (UC)
Phase 1
Phase 1
IND application to be submitted to the FDA in the first half of 2022.

Latest News

  1. SAN FRANCISCO and SAN DIEGO, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, will be presenting design and rationale details of a Phase 1 trial (KN-8701: NCT04913285) evaluating KIN-2787 during the AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics.

    KIN-2787, Kinnate's most advanced product candidate, is an orally available small molecule pan-RAF inhibitor being developed for the treatment of patients with lung cancer, melanoma, and other solid tumors. KIN-2787 has been designed to target both monomeric and…

    SAN FRANCISCO and SAN DIEGO, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, will be presenting design and rationale details of a Phase 1 trial (KN-8701: NCT04913285) evaluating KIN-2787 during the AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics.

    KIN-2787, Kinnate's most advanced product candidate, is an orally available small molecule pan-RAF inhibitor being developed for the treatment of patients with lung cancer, melanoma, and other solid tumors. KIN-2787 has been designed to target both monomeric and dimeric forms of the mutant BRAF kinase and minimize paradoxical activation, a liability often observed with other RAF inhibitors that can adversely impact tolerability and require addition of a MEK inhibitor to suppress pathway activation. Unlike currently available treatments that target only Class I BRAF kinase mutations, KIN-2787 targets Class II and Class III BRAF alterations, where it has the potential to be a first-line targeted therapy, in addition to covering Class I BRAF mutations. In pre-clinical studies, KIN-2787 has shown favorable pharmaceutical properties, achieves substantial systemic exposures in toxicology studies and induces regressions in human cancer xenograft models driven by BRAF Class I, II or III alterations.

    "Approved BRAF inhibitors have limited clinical activity in diverse solid tumors driven by BRAF Class II or III alterations, highlighting the urgency to develop effective next-generation targeted therapies for these patients who currently have limited options," said the trial's co-investigator and presenter Meredith McKean, MD, MPH, Associate Director, Melanoma and Skin Cancer Research Program, Sarah Cannon Research Institute at Tennessee Oncology. "We are pleased to share additional details of this two-part trial with this year's conference attendees."

    KN-8701 (NCT04913285) is a first-in-human, multicenter, non-randomized, open-label, Phase 1 trial of KIN-2787 in adult patients with BRAF mutant advanced and metastatic solid tumors (AMST). KIN-2787 is given orally bid continuously in 28-day cycles until drug intolerance or disease progression. Planned sample size is approximately 115 patients in two parts: Part A is a trial of dose-escalation to maximum tolerated dose open to patients with AMST driven by BRAF Class I, Class II or Class III genomic alterations. Part B will evaluate a selected dose of KIN-2787 in three cohorts of patients with melanoma, NSCLC, or other AMST, each driven by BRAF Class II or Class III alterations. Standard Phase 1 enrollment criteria are required, and key exclusion criteria include known clinically active brain metastases from non-brain tumors, and prior receipt of BRAF-, MEK-, or MAPK-directed inhibitor therapy (except for cases in which these inhibitors were used in FDA-approved indications).

    "We are pleased with the progress of this first-in-human trial of KIN-2787 and grateful to all the trial participants. With poorer prognosis observed in NSCLC and melanoma patients harboring tumors driven by BRAF Class II or III alterations, there is a dire need for more effective and better tolerated therapies," said Richard Williams, MBBS, Ph.D., Chief Medical Officer of Kinnate. "We are proud to collaborate with the Sarah Cannon Research Institute and all the other sites participating in this important trial."

    The KN-8701 trial is currently recruiting across three centers in the United States. For more information, please visit www.kinnate.com/patients.

    The poster (#P226), titled "Design and rationale of a first in human (FIH) Phase 1/1b study evaluating KIN-2787, a potent and highly selective pan-RAF inhibitor, in adult patients with BRAF mutation positive solid tumors," was presented by Dr. McKean and can be accessed online at: https://www.aacr.org/meeting/aacr-nci-eortc-international-conference-on-molecular-targets-and-cancer-therapeutics.

    About Kinnate

    Kinnate is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Kinnate's mission is to expand the reach of targeted therapeutics by developing products for underserved populations. Kinnate utilizes its deep expertise in structure-based drug discovery, translational research, and patient-driven precision medicine, which it refers to as the Kinnate Discovery Engine, to develop targeted therapies. Based in San Francisco and San Diego, California, the Kinnate team is composed of drug discovery experts supported by a distinguished group of scientific advisors. For more information, please visit www.kinnate.com.

    Forward Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements include, without limitation, statements regarding the potential benefits of our product candidates and the enrollment and conduct of our clinical trials. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are also intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends. Such expectations and projections may never materialize or may prove to be incorrect. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors, including risks related to operating as a preclinical-stage biopharmaceutical company with a limited operating history; our ability to raise additional capital to finance our operations; our ability to discover, advance through the preclinical and clinical development of, obtain regulatory approval for and commercialize our product candidates; the novel approach we are taking to discover and develop drugs; our ability to timely file and obtain approval of investigational new drug applications for our planned clinical trials; the potential for any clinical trial results to differ from our preclinical trial results; negative impacts of the COVID-19 pandemic on our business, including planned clinical trials and ongoing and planned preclinical trials; competition in our industry; regulatory developments in the United States and other countries; our ability to attract, hire and retain highly skilled executive officers and employees; difficulties in managing our growth; our ability to protect our intellectual property; reliance on third parties to conduct our preclinical studies and any future clinical trials, and to manufacture our product candidates; general economic and market conditions; and other risks.

    These and other risks, uncertainties, assumptions and other factors are further described under the heading "Risk Factors" in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 that we have filed with the Securities and Exchange Commission (the "SEC"), as well as in our subsequent filings we make with the SEC. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Investors should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Our forward-looking statements speak only as of the date of this release, and except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason in the future.

    Contacts:

    Investors:

    Patti Bank

    Westwicke, an ICR Company

    415-513-1284

    investors@kinnate.com

    Media:

    Colin Sanford

    colin@bioscribe.com



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  2. SAN FRANCISCO and SAN DIEGO, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, today announced that details of the trial design and scientific rationale for its first in human (FIH) Phase 1/1b trial (KN-8701: NCT04913285) evaluating KIN-2787 has been selected for a poster presentation at the upcoming AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics, October 7-10, 2021.

    KIN-2787, Kinnate's most advanced product candidate, is an orally available small molecule pan-RAF inhibitor being developed for the treatment…

    SAN FRANCISCO and SAN DIEGO, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, today announced that details of the trial design and scientific rationale for its first in human (FIH) Phase 1/1b trial (KN-8701: NCT04913285) evaluating KIN-2787 has been selected for a poster presentation at the upcoming AACR-NCI-EORTC Virtual International Conference on Molecular Targets and Cancer Therapeutics, October 7-10, 2021.

    KIN-2787, Kinnate's most advanced product candidate, is an orally available small molecule pan-RAF inhibitor being developed for the treatment of patients with lung cancer, melanoma, and other solid tumors. Unlike currently available treatments that target only Class I BRAF kinase mutations, Kinnate has designed KIN-2787 to target Class II and Class III BRAF alterations, where it has the potential to be a first-line targeted therapy, in addition to covering Class I BRAF mutations.

    "We are looking forward to sharing additional details of the KN-8701 trial which is actively recruiting at the first three centers in the United States with additional centers planned to activate soon," said Richard Williams, MBBS, Ph.D., Chief Medical Officer of Kinnate. "The first patient in this trial commenced treatment at Sarah Cannon Research Institute at Tennessee Oncology and we appreciate their ongoing collaboration in this important clinical trial of KIN-2787."

    The poster (#P226), titled "Design and rationale of a first in human (FIH) Phase 1/1b study evaluating KIN-2787, a potent and highly selective pan-RAF inhibitor, in adult patients with BRAF mutation positive solid tumors," will be delivered by co-investigator Meredith McKean, MD, MPH, Associate Director, Melanoma and Skin Cancer Research Program, Sarah Cannon Research Institute at Tennessee Oncology.

    Additional information on the AACR-NCI-EORTC Virtual International Conference can be found online at: https://www.aacr.org/meeting/aacr-nci-eortc-international-conference-on-molecular-targets-and-cancer-therapeutics.

    For more information on the KN-8701 trial, please visit www.kinnate.com/patients.

    About Kinnate

    Kinnate is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Kinnate's mission is to expand the reach of targeted therapeutics by developing products for underserved populations. Kinnate utilizes its deep expertise in structure-based drug discovery, translational research, and patient-driven precision medicine, which it refers to as the Kinnate Discovery Engine, to develop targeted therapies. Based in San Francisco and San Diego, California, the Kinnate team is composed of drug discovery experts supported by a distinguished group of scientific advisors. For more information, please visit www.kinnate.com.

    Forward Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements include, without limitation, statements regarding the potential benefits of our product candidates and the enrollment and conduct of our clinical trials. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are also intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends. Such expectations and projections may never materialize or may prove to be incorrect. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors, including risks related to operating as a preclinical-stage biopharmaceutical company with a limited operating history; our ability to raise additional capital to finance our operations; our ability to discover, advance through the preclinical and clinical development of, obtain regulatory approval for and commercialize our product candidates; the novel approach we are taking to discover and develop drugs; our ability to timely file and obtain approval of investigational new drug applications for our planned clinical trials; the potential for any clinical trial results to differ from our preclinical trial results; negative impacts of the COVID-19 pandemic on our business, including planned clinical trials and ongoing and planned preclinical trials; competition in our industry; regulatory developments in the United States and other countries; our ability to attract, hire and retain highly skilled executive officers and employees; difficulties in managing our growth; our ability to protect our intellectual property; reliance on third parties to conduct our preclinical studies and any future clinical trials, and to manufacture our product candidates; general economic and market conditions; and other risks.

    These and other risks, uncertainties, assumptions and other factors are further described under the heading "Risk Factors" in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 that we have filed with the Securities and Exchange Commission (the "SEC"), as well as in our subsequent filings we make with the SEC. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Investors should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Our forward-looking statements speak only as of the date of this release, and except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason in the future.

    Contacts:

    Investors:

    Patti Bank

    Westwicke, an ICR Company

    415-513-1284

    investors@kinnate.com

    Media:

    Colin Sanford

    203-918-4347

    colin@bioscribe.com 



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  3. SAN FRANCISCO and SAN DIEGO, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, announced results from preclinical studies evaluating its lead Fibroblast Growth Factor Receptor (FGFR) inhibitor candidate, KIN-3248. These findings were presented during a virtual poster session at the joint JCA-AACR Precision Cancer Medicine International Conference that took place September 10-12, 2021.

    KIN-3248 is a next-generation, irreversible, small molecule pan-FGFR inhibitor designed to target cancer-associated FGFR2 and FGFR3 gene alterations, which are common…

    SAN FRANCISCO and SAN DIEGO, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, announced results from preclinical studies evaluating its lead Fibroblast Growth Factor Receptor (FGFR) inhibitor candidate, KIN-3248. These findings were presented during a virtual poster session at the joint JCA-AACR Precision Cancer Medicine International Conference that took place September 10-12, 2021.

    KIN-3248 is a next-generation, irreversible, small molecule pan-FGFR inhibitor designed to target cancer-associated FGFR2 and FGFR3 gene alterations, which are common oncogenic drivers seen in human cancers. KIN-3248 was developed to address both primary FGFR2 and FGFR3 oncogenic alterations and those predicted to drive acquired resistance to current FGFR-targeted therapies, including gatekeeper, molecular brake, and activation loop mutations observed in cancers such as intrahepatic cholangiocarcinoma (ICC) and urothelial carcinoma (UC). Kinnate anticipates filling an Investigational New Drug (IND) application for KIN-3248 with the U.S. Food and Drug Administration (FDA) in the first half of 2022.

    "We are very pleased with the progress of our FGFR program, and these positive preclinical data are an important indicator of the potential anti-tumor activity of KIN-3248," said Eric Martin, Ph.D., SVP, Translational Research and Medicine at Kinnate. "In preclinical studies, we have demonstrated inhibitory activity across a wide range of clinically relevant mutations that drive primary disease and acquired resistance. We believe that by addressing these mutations and broadly covering multiple FGFR isoforms, KIN-3248 may be able to overcome challenges associated with currently approved FGFR inhibitors and provide a meaningful increase in the duration of response."

    The poster presentation, delivered by Aleksandra Franovic, Ph.D., Senior Director of Translational Medicine at Kinnate, highlights data which show that in biochemical and cellular assays, KIN-3248 exhibited nanomolar potency against all four wild-type FGFR family members but not against other non-FGFR kinases. Importantly, KIN-3248 was active against mutations associated with resistance to FGFR inhibitors both in the clinic and in experimental models, including the FGFR2 and FGFR3 gatekeeper (V565X and V555M, respectively), molecular brake (N550X and N540X, respectively), and activation loop (L618V and K650M, respectively) mutations with less than a five-fold difference in IC50 values relative to corresponding wild-type receptors. In addition, dose-dependent inhibition of FGFR2- and FGFR3-driven human in vivo xenografts, including one with an acquired gatekeeper mutation, was attained with once-daily KIN-3248 treatment and was well tolerated. This efficacy was accompanied by both pharmacodynamic biomarker modulation and downstream pathway inhibition.

    Kinnate's poster presentation, titled "The next-generation FGFR inhibitor, KIN-3248, is active against acquired FGFR2 and FGFR3 gatekeeper and molecular brake drug resistance mutations," is available for on-demand viewing and can be accessed via: https://www.c-linkage.co.jp/jca-aacr2021.

    About Kinnate

    Kinnate is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Kinnate's mission is to expand the reach of targeted therapeutics by developing products for underserved populations. Kinnate utilizes its deep expertise in structure-based drug discovery, translational research, and patient-driven precision medicine, which it refers to as the Kinnate Discovery Engine, to develop targeted therapies. Based in San Francisco and San Diego, California, the Kinnate team is composed of drug discovery experts supported by a distinguished group of scientific advisors. For more information, please visit www.kinnate.com.

    Forward Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements include, without limitation, statements regarding the expected timing for our regulatory filings and the potential benefits of our product candidates. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are also intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends. Such expectations and projections may never materialize or may prove to be incorrect. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors, including risks related to operating as a preclinical-stage biopharmaceutical company with a limited operating history; our ability to raise additional capital to finance our operations; our ability to discover, advance through the preclinical and clinical development of, obtain regulatory approval for and commercialize our product candidates; the novel approach we are taking to discover and develop drugs; our ability to timely file and obtain approval of investigational new drug applications for our planned clinical trials; the potential for any clinical trial results to differ from our preclinical trial results; negative impacts of the COVID-19 pandemic on our business, including planned clinical trials and ongoing and planned preclinical trials; competition in our industry; regulatory developments in the United States and other countries; our ability to attract, hire and retain highly skilled executive officers and employees; difficulties in managing our growth; our ability to protect our intellectual property; reliance on third parties to conduct our preclinical studies and any future clinical trials, and to manufacture our product candidates; general economic and market conditions; and other risks.

    These and other risks, uncertainties, assumptions and other factors are further described under the heading "Risk Factors" in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 that we have filed with the Securities and Exchange Commission (the "SEC"), as well as in our subsequent filings we make with the SEC. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Investors should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Our forward-looking statements speak only as of the date of this release, and except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason in the future.

    Contacts:

    Investors:

    Patti Bank

    Westwicke, an ICR Company

    415-513-1284

    investors@kinnate.com

    Media:

    Colin Sanford

    colin@bioscribe.com



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  4. Announced first patient dosed in Phase 1 trial evaluating KIN-2787 in patients with BRAF mutation-positive solid tumors

    Strengthened management team and Board of Directors with key appointments

    Ended the quarter with cash, cash equivalents and investments of $365.1 million, exclusive of $35.0 million in its China joint venture

    SAN FRANCISCO and SAN DIEGO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, today announced financial results for the quarter ended June 30, 2021. The company also announced that the first patient has commenced treatment in…

    Announced first patient dosed in Phase 1 trial evaluating KIN-2787 in patients with BRAF mutation-positive solid tumors

    Strengthened management team and Board of Directors with key appointments

    Ended the quarter with cash, cash equivalents and investments of $365.1 million, exclusive of $35.0 million in its China joint venture

    SAN FRANCISCO and SAN DIEGO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, today announced financial results for the quarter ended June 30, 2021. The company also announced that the first patient has commenced treatment in its Phase 1 KN-8701 clinical trial evaluating its lead RAF product candidate, KIN-2787, a pan-RAF inhibitor being developed for the treatment of patients with lung cancer, melanoma and other solid tumors.

    "2021 continues to be a year of progress for Kinnate. Initiating our first in-human trial for KIN-2787 and dosing our first patient were important steps forward toward expanding options for cancer patients who are not benefiting from currently approved RAF inhibitors," said Nima Farzan, Chief Executive Officer of Kinnate. "As we enter the second half of the year, our expanding team of clinical and business leaders are well positioned to drive further progress in our KIN-2787 program and advance our pipeline of targeted precision oncology therapies, including our lead FGFR inhibitor candidate for which we anticipate filing an IND in the first half of 2022."

    The KN-8701 trial is a multi-center, open-label, two-part study of approximately 115 patients to evaluate the safety, tolerability, pharmacokinetics (PK), and preliminary efficacy of KIN-2787 in adults with Class I, Class II, or Class III BRAF-mutated advanced or metastatic solid tumors.

    "Successfully targeting patients with Class II and Class III BRAF mutations remains a substantial unmet need in cancer care. KIN-2787 brings a unique approach to potentially address the shortcomings of existing therapies by inhibiting dimer signaling in specific patient populations with BRAF mutations while also minimizing MAPK paradoxical activation," said Meredith McKean, MD, MPH, Associate Director, Melanoma and Skin Cancer Research Program, Sarah Cannon Research Institute at Tennessee Oncology. "We are proud to be the first site to treat a patient with KIN-2787 and look forward to working with Kinnate to continue enrollment in this important Phase 1 trial."

    Other Recent Business Highlights and Corporate Update:

    • In May 2021, we closed a $35 million Series A preferred stock financing of a China joint venture ("China JV"), of which Kinnate is the majority shareholder. Established with OrbiMed Asia Partners, OrbiMed Private Investments and Foresite Capital, the China JV will be headquartered in Shanghai and the financing will enable the potential development and commercialization by the China JV of certain Kinnate targeted oncology product candidates across Greater China (PRC, Hong Kong, Taiwan, and Macau).
    • We appointed Neha Krishnamohan as our Chief Financial Officer and Executive Vice President, Corporate Development, and we continued to expand our leadership team, including with the appointment of Ken Kobayashi, M.D., our Senior Vice President, Clinical Development.
    • Helen Sabzevari, Ph.D. was appointed to our Board of Directors, and Stephen Kaldor, Ph.D., one of our founders, was not nominated for re-election to our Board of Directors when his term expired at our 2021 annual meeting of shareholders.
    • We expanded our organization to 52 full-time employees at June 30, 2021, of which 39 were engaged in research and development activities.
    • During a virtual poster session at the 57th Annual Meeting of the American Society of Clinical Oncology (ASCO), we presented results from preclinical studies evaluating the efficacy and tolerability of KIN-2787, in vitro and in vivo in BRAF mutation-driven human cancer models.

    Second Quarter 2021 Financial Results

    • Second quarter net loss for 2021 was $21.4 million, compared to $7.6 million for the same period in 2020.
    • Second quarter research and development expenses for 2021 were $16.2 million, compared to $5.6 million for the same period in 2020.
    • Second quarter general and administrative expenses for 2021 were $5.3 million, compared to $2.0 million for the same period in 2020.
    • As of June 30, 2021, the total of cash and cash equivalents and investments was $365.1 million, exclusive of $35.0 million in the China JV.

    About Kinnate

    Kinnate is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Kinnate's mission is to expand the reach of targeted therapeutics by developing products for underserved populations. Kinnate utilizes its deep expertise in structure-based drug discovery, translational research, and patient-driven precision medicine, which it refers to as the Kinnate Discovery Engine, to develop targeted therapies. Based in San Francisco and San Diego, California, the Kinnate team is composed of drug discovery experts supported by a distinguished group of scientific advisors. For more information, please visit www.kinnate.com.

    Forward Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements include, without limitation, statements regarding the development of our pipeline and the potential benefits of our drug discovery activities, the expected timing for our regulatory filings and enrollment and conduct of our clinical trials, the potential benefits and treatment indications of our product candidates and the expected expansion of our organization. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are also intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends. Such expectations and projections may never materialize or may prove to be incorrect. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors, including risks related to operating as a preclinical-stage biopharmaceutical company with a limited operating history; our ability to raise additional capital to finance our operations; our ability to discover, advance through the preclinical and clinical development of, obtain regulatory approval for and commercialize our product candidates; the novel approach we are taking to discover and develop drugs; our ability to timely file and obtain approval of investigational new drug applications for our planned clinical trials; the potential for any clinical trial results to differ from our preclinical trial results; negative impacts of the COVID-19 pandemic on our business, including planned clinical trials and ongoing and planned preclinical trials; competition in our industry; regulatory developments in the United States and other countries; our ability to attract, hire and retain highly skilled executive officers and employees; difficulties in managing our growth; our ability to protect our intellectual property; reliance on third parties to conduct our preclinical studies and any future clinical trials, and to manufacture our product candidates; general economic and market conditions; and other risks.

    These and other risks, uncertainties, assumptions and other factors are further described under the heading "Risk Factors" in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 that we are concurrently filing with the Securities and Exchange Commission (the "SEC"), as well as in our subsequent filings we make with the SEC. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Investors should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Our forward-looking statements speak only as of the date of this release, and except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason in the future.

    Contacts:

    Investors:

    Patti Bank

    Westwicke, an ICR Company

    415-513-1284

    investors@kinnate.com

    Media:

    Colin Sanford

    colin@bioscribe.com



     
    Kinnate Biopharma Inc.
    Condensed Consolidated Balance Sheets
    (Unaudited)
    (in thousands, except share and par value amounts)
         
      June 30, 2021 December 31, 2020
    Assets    
    Current assets:    
    Cash and cash equivalents $132,991  $365,462 
    Cash at consolidated joint venture  35,011   - 
    Short-term investments  87,017   31,398 
    Prepaid expenses and other current assets  3,761   3,343 
    Total current assets  258,780   400,203 
    Property and equipment, net  286   368 
    Long-term investments  145,136   - 
    Restricted cash  371   - 
    Other non-current assets  90   - 
    Total assets $404,663  $400,571 
         
    Liabilities and Stockholders' Equity     
    Current liabilities:    
    Accounts payable $1,334  $3,940 
    Accrued expenses  6,989   3,364 
    Total current liabilities  8,323   7,304 
    Commitments and contingencies    
    Redeemable noncontrolling interests  35,000   - 
    Stockholders' equity:    
    Preferred stock, $0.0001 par value; 200,000,000 shares authorized    
    at June 30, 2021 and December 31, 2020; 0 shares outstanding    
    at June 30, 2021 and December 31, 2020  -   - 
    Common stock, $0.0001 par value; 1,000,000,000 shares authorized    
    at June 30, 2021 and December 31, 2020; 43,622,745 and 43,477,439    
    shares issued and outstanding at June 30, 2021 and December 31, 2020,    
    respectively  4   4 
    Additional paid-in capital  453,641   446,601 
    Accumulated other comprehensive loss  (74)  (9)
    Accumulated deficit  (92,231)  (53,329)
    Total stockholders' equity  361,340   393,267 
    Total liabilities and equity $404,663  $400,571 
         





    Kinnate Biopharma Inc.
    Condensed Consolidated Statements of Operations and Comprehensive Loss
    (Unaudited)
    (in thousands, except share and per share amounts)
             
      Three Months Ended June 30, Six Months Ended June 30,
       2021   2020   2021   2020 
             
    Operating expenses:        
    Research and development $16,242  $5,579  $28,908  $8,777 
    General and administrative (includes related party amount of $92 for the three and six months ended June 30, 2020)  5,327   2,047   10,142   3,002 
    Total operating expenses  21,569   7,626   39,050   11,779 
    Loss from operations  (21,569)  (7,626)  (39,050)  (11,779)
    Other income:        
    Interest income  672   12   1,075   224 
    Other expense, net  (548)  -   (927)  - 
    Total other income, net  124   12   148   224 
    Net loss  (21,445)  (7,614)  (38,902)  (11,555)
    Net loss attributable to redeemable noncontrolling interests  -   -   -   - 
    Net loss attributable to Kinnate $(21,445) $(7,614) $(38,902) $(11,555)
             
    Weighted-average shares outstanding, basic and diluted  43,535,887   3,705,857   43,506,825   3,689,152 
    Net loss per share, basic and diluted $(0.49) $(2.05) $(0.89) $(3.13)
             
             
    Comprehensive loss:        
    Net loss $(21,445) $(7,614) $(38,902) $(11,555)
    Other comprehensive (loss) income:        
    Unrealized loss on investments  (34)  -   (65)  - 
    Total comprehensive loss  (21,479)  (7,614)  (38,967)  (11,555)
    Comprehensive loss attributable to noncontrolling interests  -   -   -   - 
    Comprehensive loss attributable to Kinnate $(21,479) $(7,614) $(38,967) $(11,555)

     

     



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  5. SAN FRANCISCO and SAN DIEGO, July 27, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, today announced that its Chief Executive Officer Nima Farzan will participate in the 2021 Wedbush PacGrow Healthcare Conference, being held virtually from August 10-11, 2021.

    Event: 2021 Wedbush PacGrow Healthcare Conference
    Panel: "Bullseye - Targeted Oncology Part 1"
    Location: Virtual
    Date: Tuesday, August 10, 2021
    Time: 10:55 AM ET/ 7:55 AM PT

    Members of the Kinnate management team will also host investor meetings during the conference.

    A live webcast of the Wedbush panel…

    SAN FRANCISCO and SAN DIEGO, July 27, 2021 (GLOBE NEWSWIRE) -- Kinnate Biopharma Inc. (NASDAQ:KNTE) ("Kinnate"), a biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers, today announced that its Chief Executive Officer Nima Farzan will participate in the 2021 Wedbush PacGrow Healthcare Conference, being held virtually from August 10-11, 2021.

    Event: 2021 Wedbush PacGrow Healthcare Conference

    Panel: "Bullseye - Targeted Oncology Part 1"

    Location: Virtual

    Date: Tuesday, August 10, 2021

    Time: 10:55 AM ET/ 7:55 AM PT

    Members of the Kinnate management team will also host investor meetings during the conference.

    A live webcast of the Wedbush panel discussion will be available in the Investors and Media section of the Kinnate website at www.kinnate.com. A webcast replay will also be available on this website shortly after conclusion of the event for 30 days.

    About Kinnate

    Kinnate is focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically defined cancers. Kinnate's mission is to expand the reach of targeted therapeutics by developing products for underserved populations. Kinnate utilizes its deep expertise in structure-based drug discovery, translational research, and patient-driven precision medicine, which it refers to as the Kinnate Discovery Engine, to develop targeted therapies. Based in San Francisco and San Diego, California, the Kinnate team is composed of drug discovery experts supported by a distinguished group of scientific advisors. For more information, please visit www.kinnate.com.

    Forward Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements include, without limitation, Kinnate's expected participation at investor conferences and meetings. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are also intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends. Such expectations and projections may never materialize or may prove to be incorrect. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors, including risks related to operating as a preclinical-stage biopharmaceutical company with a limited operating history; our ability to raise additional capital to finance our operations; our ability to discover, advance through the preclinical and clinical development of, obtain regulatory approval for and commercialize our product candidates; the novel approach we are taking to discover and develop drugs; our ability to timely file and obtain approval of investigational new drug applications for our planned clinical trials; the potential for any clinical trial results to differ from our preclinical trial results; negative impacts of the COVID-19 pandemic on our business, including planned clinical trials and ongoing and planned preclinical trials; competition in our industry; regulatory developments in the United States and other countries; our ability to attract, hire and retain highly skilled executive officers and employees; difficulties in managing our growth; our ability to protect our intellectual property; reliance on third parties to conduct our preclinical studies and any future clinical trials, and to manufacture our product candidates; general economic and market conditions; and other risks.

    These and other risks, uncertainties, assumptions and other factors are further described under the heading "Risk Factors" in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021 that we have filed with the Securities and Exchange Commission (the "SEC"), as well as in our subsequent filings we make with the SEC. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Investors should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Our forward-looking statements speak only as of the date of this release, and except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason in the future.

    Contacts:

    Investors:

    Patti Bank

    Westwicke, an ICR Company

    415-513-1284

    investors@kinnate.com

    Media:

    Colin Sanford

    203-918-4347

    colin@bioscribe.com 



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