Kite proposes $138M follow-on

Kite Pharma Inc. (NASDAQ:KITE) said it plans to raise up to $138 million in a follow-on underwritten by Jefferies; Credit Suisse; Cowen; and Stifel. Kite raised $146.6 million through the sale of 8.6 million shares at $17 in an IPO in June.

Kite's lead program is KTE-C19, a therapy comprising autologous T cells genetically modified to express a chimeric antigen receptor (CAR) against CD19. Next year, the company plans to start Phase II trials of KTE-C19 to treat relapsed/refractory mantle cell lymphoma (MCL), chronic lymphocytic leukemia (CLL) and acute lymphoblastic leukemia (ALL), as well as a Phase I/II trial to treat relapsed or refractory diffuse large B cell lymphoma (DLBCL). ...