KLRA Stock — Kailera Therapeutics Inc.: Cash, EV, Pipeline

Share price

$12.83

Market cap

$1,663.3M

Cash

$916.7M

Enterprise value

$746.6M

Balance sheet

Cash	$916.7M
Debt	$0.0M
Net cash	$916.7M
Enterprise value	$746.6M
Basic shares	129.6M shares
Fully diluted shares	162.2M shares
Fully diluted market cap	$2,081.6M
Cash per share	$7.07

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Jun 12 - Jul 24	Ribupatide	Phase 2	Obesity	—
Aug 18 - Sep 29	KAI-7535	Phase 2	Obesity; Overweight	—
Mar 14 - Apr 25	Ribupatide	Phase 3	Obesity; Overweight	—
Mar 21 - May 2	Ribupatide	Phase 1	End Stage Renal Disease; Renal Impairment; Obesity	—
Apr 12 - May 24	Ribupatide	Phase 3	Obesity	—
May 8 - Jun 19	Ribupatide	Phase 3	Obesity With Diabetes; Overweight With Diabetes	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Ribupatide injection

Phase 3 · Active Modality: peptide

Aliases KAI-9531

Target GLP-1 (filing: GLP-1-based pipeline)

Partnerships Hengrui (May 2024 license & collaboration; exclusive ex-Greater China development/commercialization rights; Hengrui develops/commercializes in Greater China)

Indications

Obesity (Phase 3)
Type 2 diabetes (Phase 3)

Status note Once-weekly injectable peptide. Global Phase 3 trials initiated Dec 2025 and Jan 2026 (obesity). Hengrui reported topline from two China Phase 3 trials in T2D (Jul/Aug 2026).

Ribupatide oral

Stage not disclosed · Active Modality: peptide

Target GLP-1 (filing: GLP-1-based pipeline)

Partnerships Hengrui (May 2024 license & collaboration; exclusive ex-Greater China rights)

Indications

Obesity (Stage not disclosed)

Status note Once-daily oral tablet formulation of ribupatide; Phase 3 trials planned to be initiated (timing not stated in filing).

KAI-7535

Stage not disclosed · Active Modality: small molecule

Aliases HRS-7535

Target GLP-1 (filing: GLP-1-based pipeline)

Partnerships Hengrui (May 2024 license & collaboration; exclusive ex-Greater China rights)

Indications

Obesity (Stage not disclosed)

Status note Once-daily small molecule. Hengrui reported topline from two China Phase 3 trials (obesity; T2D) in Jul 2026; KLRA advancing global clinical trials.

KAI-4729

Preclinical · Active Modality: peptide

Target GLP-1 (filing: GLP-1-based pipeline)

Partnerships Hengrui (May 2024 license & collaboration; exclusive ex-Greater China rights)

Indications

Obesity (Preclinical)

Status note Once-weekly injectable GLP-1/GIP/glucagon receptor tri-agonist; Phase 1 trial planned to be initiated (timing not stated in filing).

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Ribupatide
Lead indication	Obesity
Lead phase	Phase 3
Active trials	6

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07284875	Phase 3	Recruiting	Sponsor	Kailera	—	Obesity; Overweight	—
NCT07284979	Phase 3	Recruiting	Sponsor	Kailera	—	Obesity	—
NCT07284901	Phase 3	Recruiting	Sponsor	Kailera	—	Obesity With Diabetes; Overweight With Diabetes	—
NCT07458269	Phase 2	Active, not recruiting	Sponsor	Kailera	—	Obesity	—
NCT07497880	Phase 2	Active, not recruiting	Sponsor	Kailera	—	Obesity; Overweight	—
NCT07793929	Phase 1	Not yet recruiting	Sponsor	Kailera	—	End Stage Renal Disease; Renal Impairment; Obesity	—

Sponsor-matched active trials from ClinicalTrials.gov (6 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 6 active trials for Kailera on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	10,776,820	+10,776,820	2.03%	2026-08-14
Frazier Life Sciences	1,100,000	+1,100,000	0.53%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

KLRA — Kailera Therapeutics Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders