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Kiniksa Pharmaceuticals prices IPO

Kiniksa Pharmaceuticals Ltd. priced its IPO of 8,477,777 class A common shares at $18 each.

The company expects to raise gross proceeds of about $152.6 million through the offering, which is expected to close May 29, subject to customary closing conditions.

Underwriters have a 30-day option to buy up to an additional 1,271,666 class A common shares at the offering price.

The shares are expected to start trading May 24 on the Nasdaq Global Select Market under the symbol KNSA.

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

Bermuda-based Kiniksa Pharmaceuticals develops treatments for debilitating diseases with significant unmet medical need.