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Kodiak Sciences to go public to help fund eye-drug studies

Biotech drug developer Kodiak Sciences Inc. KOD, -5.80% mentioned late Friday it plans to move public, according to a filing with the Securities and Exchange Commission. Kodiak mentioned it plans to boost up to $100 million within the filing, however that amount is usually used as a placeholder and is often revised in later filings. The corporate mentioned it plans to make use of proceeds for scientific trials of its eye-drug candidate KSI-301 for the remedy of wet age-related macular degeneration and diabetic retinopathy. Kodiak, which has no reported earnings, mentioned it booked a lack of $27.nine million in 2017, in comparison with $17.1 million in 2016. The corporate plans to make use of the ticker "KOD" to industry at the Nasdaq. Morgan Stanley, Bank of America Merrill Lynch and Barclays are listed a number of the underwriters.

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