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Kite Pharma Announces Proposed Public Offering of Common Stock

SANTA MONICA, Calif., Dec. 8, 2015 (GLOBE NEWSWIRE) -- Kite Pharma, Inc. (Nasdaq:KITE) today announced that it has commenced an underwritten public offering of approximately $250 million of shares of its common stock. Kite expects to grant the underwriters of the offering a 30-day option to purchase up to an additional $37.5 million of shares of its common stock at the public offering price, less the underwriting discounts and commissions. All shares of common stock to be sold in the offering will be offered by Kite. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Jefferies LLC and Citigroup Global Markets Inc. are acting as lead book-running managers for the offering. Cowen and Company, LLC and RBC Capital Markets, LLC are acting as joint book-running managers, and Stifel is acting as co-manager.

The securities described above are being offered by Kite pursuant to a shelf registration statement filed today with the Securities and Exchange Commission (SEC), which has become automatically effective. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC's website at http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 547-6340, or by e-mail at Prospectus_Department@Jefferies.com; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146, or by e-mail at prospectus@citi.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Kite Pharma, Inc.

Kite Pharma, Inc. is a clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a primary focus on eACT™ designed to restore the immune system's ability to recognize and eradicate tumors. Kite is based in Santa Monica, CA.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Kite may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding Kite's expectations regarding the completion, timing and size of its proposed public offering. Various factors may cause differences between Kite's expectations and actual results, including risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as risks and uncertainties discussed in greater detail in Kite's filings with the SEC, including without limitation in the section captioned "Risk Factors" in the preliminary prospectus supplement related to the public offering to be filed with the SEC and in Kite's Form 10-Q for the quarter ended September 30, 2015, incorporated by reference therein. Any forward-looking statements that Kite makes in this press release speak only as of the date of this press release. Kite assumes no obligation to update its forward-looking statements whether as a result of new information, future events, or otherwise, after the date of this press release.

CONTACT: Kite Pharma, Inc. Cynthia M. Butitta Chief Financial Officer and Chief Operating Officer (310) 824-9999 For Media: Justin Jackson For Investor Inquiries: Lisa Burns Burns McClellan (212) 213-0006 jjackson@burnsmc.com lburns@burnsmc.com

Source:Kite Pharma, Inc.