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Kiniksa Pharmaceuticals, Ltd. Announces Pricing of Public Offering

HAMILTON, Bermuda, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Kiniksa Pharmaceuticals, Ltd. (KNSA) (“Kiniksa”, “we”, and “our”) announced today the pricing of its public offering of 2,654,984 Class A common shares at a public offering price of $18.26 per share, before underwriting discounts and commissions. The gross proceeds to Kiniksa from this offering and its previously announced concurrent private placement, before fees and estimated expenses, are expected to be approximately $85.0 million. In addition, Kiniksa has granted the underwriters a 30-day option to purchase up to 398,247 additional Class A common shares at the public offering price, less underwriting discounts and commissions. The public offering is expected to close on February 4, 2019, subject to customary closing conditions. All of the Class A common shares are being offered by Kiniksa.

Kiniksa expects to use the net proceeds from the public offering and the concurrent private placement, together with its existing cash resources, to advance the clinical development of its product candidates, to fund new and ongoing research and development activities and for working capital and other general corporate purposes.

J.P. Morgan Securities, LLC, Goldman Sachs & Co. LLC and Barclays Capital Inc. are acting as joint book-running managers for the public offering. Wedbush Securities Inc. and JMP Securities LLC are acting as co-managers for the public offering.

Kiniksa has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the public offering to which this communication relates, which was declared effective by the SEC. Before you invest, you should read the prospectus in that registration statement and other documents Kiniksa has filed with SEC for more complete information about Kiniksa and the public offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the final prospectus relating to the public offering may also be obtained, when available, by contacting: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: 1-866-803-9204, or via email at prospectus-eq_fi@jpmchase.com; from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: prospectus-ny@ny.email.gs.com; or from Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 1 (888) 603-5847, Email: barclaysprospectus@broadridge.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kiniksa

Kiniksa is a biopharmaceutical company focused on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need. Kiniksa has a pipeline of five product candidates across various stages of development, focused on autoinflammatory and autoimmune conditions.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these identifying words.  All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation, statements regarding the public offering and our use of proceeds. 

These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including without limitation, the following: potential delays or difficulties in developing our product candidates or obtaining regulatory approval for our product candidates, including the uncertain process for obtaining regulatory approval; unfavorable global economic or market conditions; our assumption and estimates regarding expenditures being wrong; and our need to for substantial additional financing to continue developing and, if approved, commercializing product candidates.

These and other important factors discussed under the caption “Risk Factors” in our preliminary prospectus filed with the SEC on January 28, 2019 relating to our registration statement on Form S-1 (File No. 333-229394), and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s expectations and estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Every Second Counts!™

Kiniksa Investor and Media Contact
Mark Ragosa | mragosa@kiniksa.com | (781) 430-8289