The company said it will use the proceeds of the offering to fund development and clinical testing of its drugs, which include treatments for severe asthma and a preventive treatment for pneumonia. KaloBios didn't disclose a price for the offering.
The underwriters of the offering will have the option to buy another $4.5 million in stock. The totals do not include discounts or underwriting expenses.
Shares of KaloBios Pharmaceuticals Inc. rose 14 cents, or 2.7 percent, to $5.28 in morning trading Monday. The company went public in February with an IPO that priced at $8 per share, and the stock has lost 34 percent of its value since then.