Dec. 2 Financial Quick Takes: Kodiak gains on royalty deal; plus Clover, Aslan, Transcenta, EOC, Hui-Gene and ViGeneron

Kodiak in $225M royalty deal with Baker Bros.

Kodiak Sciences Inc. (NASDAQ:KOD) gained $21.45 (72%) to $51.05 on Monday after selling royalty rights on global net sales of retinal vascular disease drug KSI-301 to Baker Bros. Advisors for $225 million. Baker Bros. will pay the company $100 million upon the deal’s close; the remaining $125 million is contingent upon Kodiak hitting milestones, including 50% enrollment in two pivotal clinical studies of the anti-VEGF antibody biopolymer conjugate therapy.
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