CAMBRIDGE, Mass., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Codiak BioSciences, Inc. (Nasdaq: CDAK), a clinical-stage biopharmaceutical company focused on pioneering the development of exosome-based therapeutics as a new class of medicines, today announced the closing of its previously announced underwritten public offering of an aggregate of 3,162,500 shares of its common stock at a public offering price of $21.00 per share, which includes the exercise in full of the underwriters’ option to purchase 412,500 additional shares. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are anticipated to be approximately $66.4 million. The offering of the shares is expected to result in approximately $62.0 million in net proceeds to Codiak after deducting underwriting discounts and commissions and other estimated offering expenses payable by Codiak.

Goldman Sachs & Co. LLC, Evercore ISI and William Blair acted as joint book-running managers for the offering and as representatives of the underwriters. Wedbush PacGrow acted as lead manager for the offering.

About Codiak

Codiak is a clinical-stage biopharmaceutical company focused on pioneering the development of exosome-based therapeutics, a new class of medicines with the potential to transform the treatment of a wide spectrum of diseases with high unmet medical need. By leveraging the biology of exosomes as natural intercellular transfer mechanisms, Codiak has developed its proprietary engEx Platform to expand upon the innate properties of exosomes to design, engineer and manufacture novel exosome therapeutic candidates. Codiak has utilized its engEx Platform to generate a deep pipeline of engineered exosomes aimed at treating a broad range of disease areas, spanning oncology, neuro-oncology, neurology, neuromuscular disease and infectious disease.