Kodiak Sciences dips after boosted $160 mln equity raise

Kodiak Sciences

17/12/2025 13:39

** Eye-drug developer Kodiak Sciences' KOD.O shares down 0.6% before the bell at $23.98 after $160 mln follow-on priced

    ** Palo Alto, California-based
    biotech late Tues said it sold ~7 mln shares at $23, a 4.7% discount to last sale

    ** KOD shares closed up nearly 5% on Tues after co late Mon commenced 6 mln share offering

    ** Co, which has ~53 mln shares outstanding, plans to use net proceeds for working capital and general corp purposes, per the prospectus

    ** JP Morgan, Jefferies, Evercore and UBS are joint bookrunners

    ** Through Tues close, KOD shares surged nearly seven-fold over the past six months, putting them up ~143% YTD

    ** Avg rating among 8 analysts is "buy" and median PT is $24, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))