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Kodiak Sciences nets $298mm via FOPO
12 Dec 2019
Executive Summary
| Ophthalmic-focused Kodiak Sciences Inc. netted $298mm in a follow-on offering of 6.9mm common shares (including the overallotment) at $46 each. The company will use some of the funds to move its KSI301 towards the BLA filing in retinal vein occlusion and for sBLA submissions (expected in 2022) for wet age-related macular degeneration, diabetic macular edema (DME), and possibly diabetic retinopathy without DME. Additional funds will support development of additional pipeline candidates including KSI501 for DME and uveitis. Just one day prior to the offering, Kodiak sold Baker Bros. a capped 4.5% royalty on net sales of KSI301 in exchange for $225mm. |
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- FOPO
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Kodiak Sciences nets $298mm via FOPO
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