On September 17, 2024 Kairos Pharma, Ltd. ("Kairos Pharma" or the "Company") (NYSE American: KAPA), a clinical stage biopharmaceutical company developing cancer therapeutics designed to reverse cancer drug resistance and immune suppression, reported that it has closed its initial public offering of 1,550,000 shares of common stock at an offering price of $4.00 per share (Press release, Kairos Pharma, SEP 17, 2024, View Source [SID1234646701]). The gross proceeds to the Company from the offering were $6,200,000, before deducting underwriting discounts and commissions and other offering expenses. The Company’s common stock began trading on the NYSE American LLC on September 16, 2024 under the symbol "KAPA."

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The Company intends to use the net proceeds from the offering to fund its Phase 1 trial in lung cancer and Phase 2 trial in prostate cancer for its lead product candidate ENV 105, designed to reverse resistance to cancer drugs. The proceeds will also advance preclinical candidates, including KROS 101, a small molecule agonist for the GITR ligand, designed to promote T cell growth and cytotoxic function against cancer.

The Company has granted to the underwriters a 45-day option to purchase up to an additional 232,500 shares of common stock at the public offering price of $4.00 per share, less underwriting discounts and commissions.

Boustead Securities, LLC acted as lead managing underwriter for the offering, and EF Hutton LLC and Sutter Securities, Inc. acted as co-managing underwriters for the offering.

Dorsey & Whitney LLP served as counsel to the Company and Olshan Frome Wolosky LLP served as counsel to the underwriters.

A registration statement on Form S-1 (File No. 333-274805) relating to the offering was declared effective by the Securities and Exchange Commission (the "SEC") on September 16, 2024. The offering is being made only by means of a prospectus. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at View Source and may also be obtained, when available, by emailing [email protected] or by calling 1-949-502-4408 or by standard mail to Boustead Securities, LLC, Attention: Equity Capital Markets, 6 Venture, Suite 395, Irvine, California 92618.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.