Kiromic BioPharma, Inc. announces its public offering price

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HOUSTON – (COMMERCIAL THREAD) – Kiromic BioPharma, Inc. (Nasdaq: KRBP) (the “Company”), an immuno-oncology target discovery and gene editing company with a proprietary artificial intelligence neural network platform (Diamond AI) which is used to develop a new oncology therapies, today announced the price of its subscribed public offering of 8,000,000 common shares at a public offering price of $ 5.00 per share, for gross proceeds of $ 40 million, before deducting sales rebates and commissions and other estimated offering fees payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to 1,200,000 additional common shares, solely to cover the over-allotments. All common shares are offered by the Company.

The offer is expected to close on or around July 2, 2021, subject to customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., acts as the sole accounting manager of the offering.

The Company intends to use the net proceeds of the offering primarily for clinical trials of its product candidates ALEXIS-ISO-1 and ALEXIS-PRO-1, expansion of GMP facilities, protection and strengthening of intellectual property, IND applications and IND testing enabling and working capital and the rest for general corporate purposes.

A registration statement relating to the common shares sold under this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on June 29, 2021. The offering is being made only by way of a prospectus. Copies of the final prospectus can be obtained, where available, from the SEC’s website, www.sec.gov, or by contacting ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by phone at (877) 436-3673 or by email at prospectus @ think-equity .com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kiromic BioPharma, Inc.

Kiromic BioPharma, Inc. is a target discovery and gene editing company using an advanced artificial intelligence (AI) platform focused on unleashing the potency of the patient’s immune system to fight cancer.

The development of Kiromic’s pipeline is based on the company’s proprietary target discovery artificial intelligence engine called “DIAMOND”. Kiromic’s DIAMOND is the big data science that responds to target identification, dramatically compressing the man-years and millions of dollars of drug development needed to develop a living drug.

The company maintains its offices in the world’s largest medical center in Houston, Texas, adjacent to the MD Anderson Cancer Center and Baylor College of Medicine, where Kiromic maintains an ongoing collaboration with these institutions.

Disclaimer regarding forward-looking statements

This press release contains “forward-looking statements” which are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate”, “believe”, “contemplate”, “might”, “estimate”, “expect”, “have the intention “,” seek, “” may “,” could “,” plan “,” potential “,” predict “,” plan “,” target “,” aim “,” should “,” will “,” would ” , or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on our company’s current expectations and are subject to uncertainties, risks and assumptions. In addition, certain forward-looking statements are based on assumptions about future events which may not prove to be correct. These and other risks and uncertainties are further described in the section entitled ” Risk factors ”in the annual report d e the Company on Form 10-K for the last financial year ended and subsequent reports filed after the date of the annual report with the Securities and Exchange Commission. The forward-looking statements contained in this announcement are made as of this date, and our company does not undertake to update this information, except as required by applicable law.



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