Kailera Therapeutics (Ticker: KLRA US) is an American advanced clinical-stage biotechnology company specializing in the development of obesity treatments. Kailera plans to list on the NASDAQ on April 17, 2026, planning to offer 33,333,334 primary shares at a price range of $14.00 to $16.00, raising approximately $500 million.

Reportedly, the company is progressing a diversified pipeline to provide therapeutic options for patients with obesity. Kailera is advancing four clinical-stage product candidates leveraging multiple GLP-1-based mechanisms of action and routes of administration. According to sources, the lead product candidate is ribupatide (KAI-9531), which targets weight loss. The pipeline also includes KAI-7535, a once-daily oral small molecule GLP-1 receptor agonist, and KAI-4729, a once-weekly injectable tri-agonist intended to target weight reduction and liver fat reduction.

According to sources, J.P. Morgan, Jefferies, Leerink, TD Cowen, and Evercore are acting as bookrunners for the IPO. Additionally, J.P. Morgan will serve as the stabilization agent and handle bill and deliver responsibilities. The management team is reportedly led by CEO and President Ron Renaud alongside CFO Douglas Pagan.