Exhibit 99.2
Kaleido Biosciences Announces Pricing of Public Offering of Common Stock
LEXINGTON, Mass., June 1, 2020 – Kaleido Biosciences, Inc. (Nasdaq: KLDO), a clinical-stage healthcare company with a chemistry-driven approach to targeting the microbiome to treat disease and improve human health, today announced the pricing of an underwritten public offering of 4,750,000 shares of its common stock at a public offering price of $7.50 per share. In addition, Kaleido has granted the underwriters a30-day option to purchase up to an additional 712,500 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Kaleido from this offering are expected to be approximately $35.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares are being offered by Kaleido. The offering is expected to close on June 4, 2020, subject to customary closing conditions.
Morgan Stanley is acting as sole book-running manager for the offering. Canaccord Genuity is acting as lead manager for the offering.
Kaleido intends to use the net proceeds from the offering, in addition to its existing cash resources, to fund its continued research and development activities, including the ongoing clinical program of KB109 in patients withmild-to-moderateCOVID-19, the ongoing Phase 2 clinical trial of KB195 in patients with urea cycle disorders, and the planned clinical study of KB295 in patients withmild-to-moderate ulcerative colitis, to fund any other research and development activities that relate to its current and future clinical and preclinical activities, and the remainder for planned general and administrative expenses, working capital and other general corporate purposes.
The securities described above were offered by Kaleido pursuant to a shelf registration statement on FormS-3 (No.333-236804) that was declared effective by the Securities and Exchange Commission (SEC) on March 10, 2020. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located atwww.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.
About Kaleido Biosciences
Kaleido Biosciences is a clinical-stage healthcare company with a differentiated, chemistry-driven approach to targeting the microbiome to treat disease and improve human health. The Company has built a proprietary product platform to enable the rapid and cost-efficient discovery and development of novel Microbiome Metabolic Therapies (MMT™). MMTs are designed to modulate the metabolic output and profile of the microbiome by driving the function and distribution of the gut’s existing microbes. Kaleido is advancing a broad pipeline of MMT candidates with the potential to address a variety of diseases and conditions with significant unmet patient needs.
