Kodiak Sciences, a phase 1 biotech developing therapies for common ophthalmic diseases, raised $90 million by offering 9 million shares at $10, below the range of $13 to $15. Insiders purchased $58 million (64% of deal size) on the offering. At pricing, Kodiak will command a market value of $375 million. Kodiak Sciences plans to list on the Nasdaq under the symbol KOD. Morgan Stanley, BofA Merrill Lynch and Barclays acted as lead managers on the deal.
