Paul Hastings Advises Underwriters on Kailera Therapeutics $625 Million IPO

"Paul Hastings LLP advised J.P. Morgan Securities, Jefferies, Leerink, TD Cowen and Evercore as joint book‑running managers in Kailera Therapeutics’ $625 million initial public offering of 39,062,500 shares at $16.00 per share, with a 30‑day option for 5,859,375 additional shares. The offering, expected to close April 20, 2026, is the largest biotech IPO to date; Kailera is an advanced clinical‑stage company developing obesity treatments."

Paul Hastings LLP advised J.P. Morgan Securities, Jefferies, Leerink, TD Cowen and Evercore as joint book‑running managers in connection with Kailera Therapeutics’ initial public offering. The transaction consisted of a public offering by Kailera Therapeutics of 39,062,500 shares of common stock at a price of $16.00 per share, for aggregate gross proceeds of approximately $625 million. Kailera granted the underwriters a 30‑day option to purchase up to 5,859,375 additional shares at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on April 20, 2026, subject to customary closing conditions. The offering represents the largest biotech initial public offering completed to date. Kailera Therapeutics is an advanced clinical‑stage biotechnology company developing a range of treatments to improve obesity care and provide options for patients at every stage of their journey. Paul Hastings LLP represented the underwriters J.P. Morgan Securities, Jefferies, Leerink, TD Cowen and Evercore with a team composed by: Seo Salimi, Equity Capital Markets and Corporate Life Sciences chair; Ryan Brewer, of counsel; Chris Guerin, associate; and Adam Swank, associate.

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Paul Hastings Advises Underwriters on Kailera Therapeutics $625 Million IPO

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Paul Hastings Advises Underwriters on Kailera Therapeutics $625 Million IPO

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