SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Kinnate Biopharma Inc. (Nasdaq – KNTE)

BALA CYNWYD – February 16, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Kinnate Biopharma Inc. (“Kinnate” or the “Company”) (Nasdaq – KNTE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to XOMA Corporation (“XOMA”) (Nasdaq – XOMA). Under the terms of the merger agreement, Kinnate shareholders will receive (i) a base cash price of $2.3352 per share (the Base Price) and (ii) an additional cash amount of not more than $0.2527 per share (together with the Base Price, the Cash Amount) at the closing of the merger plus a non-transferable contingent value right (CVR), representing the right to receive 85% of the net proceeds from any out license or sale of the Kinnate programs effected within one year of closing of the merger or 100% of the net proceeds from any out license or sale executed prior to the closing.

The investigation concerns whether the Kinnate Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether XOMA is paying fair value to shareholders of the Company.

If you own shares of Kinnate stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.