Bay Area Biotechs File for IPOs

​Last week, two Bay Area biotech firms, Guardant Health and Kodiak Sciences, filed prospectuses with the SEC for IPOs. Both firms cited a $100 million fundraising goal. However, the New York Stock Exchange and the NASDAQ did not list any new companies last week.

• Redwood City-based Guardant Health has filed a prospectus for a $100 million IPO. The Bay Area company is a developer of a comprehensive liquid biopsy technology designed to screen and diagnose cancer. The hope for liquid biopsy technology is to be able to screen for cancer early enough and apply pharmaceutical treatments before the cancer spreads.

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• Kodiak Sciences has filed for an IPO with the SEC, citing aims to raise $100 million. Hailing from Palo Alto, the company focuses on therapies designed to provide treatment of chronic retinal diseases. The company hopes to use the funds raised to advance its lead candidate, KSI-301, designed to treat age-related macular degeneration, diabetic macular edema, and diabetic retinopathy.