Obesity Treatment Firm Kailera Upsizes IPO to Raise $625 Million

Kailera Therapeutics Inc., a clinical-stage biotechnology company focused on obesity, raised $625 million in an upsized initial public offering, marking the sector’s biggest US listing since 2021.

The Waltham, Massachusetts-based company’s IPO priced at the top of its marketed range. Kailera sold about 39 million shares at $16 each, according to a statement Thursday. The biotech had offered 33.3 million shares for $14 to $16 each. The IPO was double-digits oversubscribed, people familiar with the matter have said.