Kairos Pharma (KAPA) Registration Filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company developing therapeutics to overcome immune suppression and drug resistance in cancer, with a portfolio of seven drug candidates targeting prostate, lung, breast cancer, and glioblastoma.

• Pipeline includes five immunotherapeutics (KROS 101, 102, 201, 301, 401) and two antibodies (ENV 105, 205) addressing drug resistance and immune checkpoints.

• Key patents are in-licensed from Cedars-Sinai Medical Center and Tracon Pharmaceuticals; all operations are conducted virtually to maximize capital efficiency.

• Lead candidate ENV 105 is in Phase 2 for prostate cancer and Phase 1 for lung cancer; KROS 201 is an autologous T cell therapy for glioblastoma in Phase 1.

• Strategy focuses on advancing clinical trials, leveraging academic partnerships, and maintaining a diversified pipeline to mitigate development risk.

Financial performance and metrics

• No revenue generated to date; net losses of $1.8 million in 2023 and $0.6 million for the six months ended June 30, 2024.

• Accumulated deficit of $6.8 million as of June 30, 2024; cash on hand was $21,000 at that date.

• Research and development expenses increased to $228,000 for the first half of 2024, reflecting initiation of clinical trials.

• General and administrative expenses were $286,000 for the first half of 2024.

• Auditor's report includes a going concern warning due to recurring losses and limited cash resources.

Use of proceeds and capital allocation

• Net proceeds of approximately $5.6 million (or $6.4 million if over-allotment is exercised) expected from the IPO at $4.00 per share.

• Proceeds allocated to fund Phase 1 and 2 clinical trials for ENV 105, preclinical development of KROS 101, pay $0.7 million in accounts payable, and for working capital.

• Additional $5.5 million in funding will be needed for months 13-24 post-IPO to support ongoing development.