Longtime biotech investor injects $250M into Palo Alto company a year after IPO

Eye drug developer Kodiak Sciences Inc. lined up a royalty rights deal with longtime biotech investor Baker Bros. Advisors LP for $225 million and the promise of another $25 million in the Palo Alto company's next stock raise. The competitively bid deal is a big one for 10-year-old Kodiak (NASDAQ: KOD), whose stock has risen more than 200% since a $90 million initial public offering in October 2018: Its experimental drug, KSI-301, is enrolling patients in a clinical trial designed to lead to regulatory…

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