Kadmon Closes $80.4 Million Public Offering

Kadmon Holdings (NYSE:KDMN) announced the closing of a public offering for gross proceeds of approximately $80.4 million.
As quoted in the press release:

Proceeds from the offerings will be used to advance the development of Kadmon’s product candidates, including KD025, the company’s lead Rho-associated coiled-coil kinase (ROCK) inhibitor, which is currently in Phase 2 clinical studies in autoimmune and fibrotic disease indications.
“This financing is transformative for Kadmon and provides the resources to advance our various programs, in particular KD025 in chronic graft-versus-host disease and idiopathic pulmonary fibrosis, through multiple key inflection points,” said Harlan W. Waksal, M.D., President and CEO at Kadmon. “In parallel, we will continue to build our portfolio of preclinical ROCK inhibitors for the treatment of autoimmune, fibrotic and neurodegenerative diseases.”

Click here to read the full press release.

Source: www.businesswire.com