PALO ALTO, Calif., Dec. 3, 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 the pricing of an
underwritten public offering of 6,000,000 shares of its common
stock at a price to the public of $46.00 per share. The aggregate gross proceeds
from the offering are expected to be approximately $276.0 million, before deducting the underwriting
discounts and commissions and estimated offering expenses payable
by Kodiak Sciences. The offering is expected to close on or about
December 6, 2019, subject to
customary closing conditions. In connection with the offering,
Kodiak Sciences has granted the underwriters a 30-day option to
purchase up to an additional 900,000 shares of its common stock at
the public offering price, less underwriting discounts and
commissions.
J.P. Morgan, Goldman Sachs & Co. LLC and Jefferies are
acting as joint book-running managers for the offering. SunTrust
Robinson Humphrey is acting as lead manager. Chardan is acting as
co-manager.
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 offering have been filed with the SEC, and a final
prospectus supplement and accompanying prospectus relating to the
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 final
prospectus supplement and the accompanying prospectus relating to
the 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
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.
Kodiak™ 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.
"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.