Diligence memo · auto-generated · as of July 2, 2026
Kempharm, Inc
Kempharm, Inc looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Kempharm, Inc operates in Pharmaceuticals, based in CELEBRATION.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Kempharm, Inc has raised $205M in disclosed capital across 10 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $71M on 2019-12-18.
Most recent recorded round closed around 2021-06-18.
Valuation (modeled)modeled
Provath models Kempharm, Inc at approximately $982M (range $127M–$2.3B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.59× the median modeled value of Series C Pharmaceuticals companies in 2019–2021 (33 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 15 months.
Last raise 5.0 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 1.1× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 96% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 89% of those peers.
Closest niche peers: Verastem, Inc., Sentia Wellness, Inc., Oyster Point Pharma, Inc., Terns Pharmaceuticals, Inc., Theseus Pharmaceuticals, Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.