Kodiak Sciences (KOD) IPO Opens Flat

Today's IPO for Kodiak Sciences Inc. (NASDAQ: KOD) opened for trading at $10 after pricing 9,000,000 shares of its common stock at a price to the public of $10.00 per share.

In addition, Kodiak has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of Kodiak's common stock at the initial public offering price less the underwriting discount.

Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers for the offering. Barclays is also acting as a book-running manager for the offering. Chardan is acting as lead manager.

Kodiak Sciences Inc. is a clinical stage biopharmaceutical company specializing in novel therapeutics to treat chronic, high-prevalence retinal diseases.

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