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Organization
3 Months Ended
Mar. 31, 2015
Organization  
Organization

 

1. Organization

 

KYTHERA Biopharmaceuticals, Inc. (“KYTHERA” or the “Company”) is a biopharmaceutical company focused on the discovery, development and commercialization of novel prescription products for the aesthetic medicine market. The Company’s objective is to develop first-in-class, prescription aesthetic products using an approach that relies on the scientific rigor of biotechnology to address unmet needs in the rapidly-growing market for aesthetic medicine. The Company’s initial focus is on the facial aesthetics market, which comprises the majority of the aesthetics medicine market. The Company’s product candidate, ATX-101, is a potential first-in-class, injectable drug for the reduction of submental fullness, which commonly presents as an undesirable “double chin.”

 

KYTHERA was originally incorporated in Delaware in June 2004 under the name Dermion, Inc. It commenced operations in August 2005 and its name was changed to AESTHERx, Inc. In July 2006, the Company changed its name to KYTHERA Biopharmaceuticals, Inc.

 

Since commencement of operations in August 2005, the Company has devoted substantially all its efforts to the development of ATX-101, recruiting personnel and raising capital.

 

The information included in this quarterly report on Form 10-Q should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities Exchange Commission (“SEC”).

 

In March 2015, the Company sold 2.6 million shares of common stock, $0.00001 par value per share, in an underwritten public offering at a price to the public of $48.00 per share. The underwriters purchased an additional 391 thousand shares of common stock pursuant to their option to purchase additional shares. The Company received aggregate net proceeds of approximately $134.7 million, after deducting the underwriting discounts and offering related transaction costs incurred. The shares were issued pursuant to registration statement on Form S-3, as amended and supplemented.