PALO ALTO, Calif., Dec. 2, 2019 /PRNewswire/ -- Kodiak Sciences Inc.
(Nasdaq: KOD), a clinical stage biopharmaceutical company
specializing in novel therapeutics to treat chronic,
high-prevalence retinal diseases, today announced that it has
commenced an underwritten public offering of $250,000,000 of shares of its common stock. In
connection with the proposed offering, Kodiak Sciences expects to
grant the underwriters a 30-day option to purchase up to an
additional $37,500,000 of shares of
its common stock at the public offering price, less underwriting
discounts and commissions. All of the shares in the proposed
offering will be sold by Kodiak Sciences. The proposed offering is
subject to market and other conditions, and there can be no
assurances as to whether or when the proposed offering may be
completed, or as to the actual size or terms of the proposed
offering.
J.P. Morgan, Goldman Sachs & Co. LLC and Jefferies are
acting as joint book-running managers for the proposed
offering.
The shares described above are being offered by Kodiak Sciences
pursuant to a shelf registration statement on Form S-3, including a
base prospectus, that was previously filed by Kodiak Sciences with
the Securities and Exchange Commission (the "SEC") and was declared
effective on November 14, 2019. A
preliminary prospectus supplement and accompanying prospectus
relating to the proposed offering will be filed with the SEC and
will be available on the SEC's website located at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and the accompanying prospectus relating to the proposed offering,
when available, may be obtained from: J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone
at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com;
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, New York
10282, by telephone at 866-471-2526, by facsimile at (212) 902-9316
or by email at prospectus-ny@ny.email.gs.com; or Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY
10022, by telephone at (877) 821-7388, or by email at
Prospectus_Department@Jefferies.com. The final terms of the
proposed offering will be disclosed in a final prospectus
supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 Kodiak Sciences Inc.
Kodiakā¢ is a clinical stage
biopharmaceutical company specializing in novel therapeutics to
treat chronic, high-prevalence retinal diseases. Kodiak's lead
product candidate, KSI-301, is a novel anti-VEGF antibody
biopolymer conjugate being developed for the treatment of retinal
vascular diseases including age-related macular degeneration and
diabetic eye diseases.
Forward-Looking Statements
This release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. These forward-looking statements are not based on historical
fact and include, but are not limited to, statements regarding the
completion, timing and size of the proposed public offering. Any
forward-looking statements are based on management's current
expectations of future events and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially and adversely from those set forth in or implied by such
forward-looking statements. These risks and uncertainties include,
but are not limited to, risks and uncertainties related to market
conditions and satisfaction of customary closing conditions related
to the proposed public offering. For a discussion of other risks
and uncertainties, and other important factors, any of which could
cause our actual results to differ from those contained in the
forward-looking statements, see the section entitled "Risk Factors"
in Kodiak Sciences' most recent Form 10-Q, as well as in the
preliminary prospectus supplement related to the proposed public
offering to be filed with the SEC. These forward-looking statements
speak only as of the date hereof and Kodiak Sciences undertakes no
obligation to update forward-looking statements, and readers are
cautioned not to place undue reliance on such forward-looking
statements.
"Kodiak," "ABC Platform" and the Kodiak logo are registered
trademarks or trademarks of Kodiak Sciences Inc. in various
jurisdictions.
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SOURCE Kodiak Sciences Inc.