Core Viewpoint - Kodiak Sciences Inc. has experienced an 8.1% decline in share price since its last earnings report, underperforming the S&P 500, raising questions about its future performance leading up to the next earnings release [1] Financial Performance - In Q2 2024, Kodiak reported a loss of $0.86 per share, which was narrower than the Zacks Consensus Estimate of a loss of $0.87, and a significant improvement from a loss of $1.53 per share in the same quarter last year [2] - The company has no approved products and has not generated any revenue to date [2] Expense Management - Research and development expenses were $32.5 million, down 51.5% year-over-year, primarily due to reduced manufacturing costs and lower clinical study expenses for its lead candidate, tarcocimab [3] - General and administrative expenses decreased to $15.5 million, a 13.4% reduction year-over-year, mainly due to lower non-cash stock-based compensation [3] Cash Position - As of June 30, 2024, Kodiak had cash, cash equivalents, and marketable securities totaling $219.2 million, down from $245.9 million as of March 31, 2024, with the current balance expected to support operations into 2026 [4] Market Sentiment - Recent estimates for Kodiak have shown a downward trend, indicating a negative sentiment among investors [5] - The stock has a VGM Score of B, with strong growth and momentum scores (A) but a low value score (D), placing it in the bottom 40% for value investment strategy [6] Industry Context - Kodiak Sciences operates within the Zacks Medical - Biomedical and Genetics industry, where competitor Exact Sciences has seen a 15.3% increase in stock price over the past month, reporting revenues of $699.26 million, a year-over-year increase of 12.4% [8]

Kodiak Sciences Inc. (KOD) incurred a loss of 86 cents per share in the second quarter of 2024, which was narrower than the Zacks Consensus Estimate of a loss of 87 cents. The company had incurred a loss of $1.53 per share in the year-ago quarter. The company currently does not have any approved products in its portfolio. As a result, it is yet to generate revenues. Quarter in Detail Research and development expenses were $32.5 million in the reported quarter, down 51.5% year over year. The decrease was mai ...

PALO ALTO, Calif., Aug. 14, 2024 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), today reported business highlights and financial results for the quarter ended June 30, 2024. "Our three clinical programs of tarcocimab, KSI-501 and KSI-101 are making strong operational progress," said Victor Perlroth, M.D., Chief Executive Officer of Kodiak Sciences. "The Phase 3 GLOW2 study of tarcocimab in diabetic retinopathy continues to enroll. The Phase 3 DAYBREAK study of tarcocimab and KSI-501 is now actively enr ...

Kodiak Sciences Inc. (KOD) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a chan ...

Core Viewpoint - Kodiak Sciences is revitalizing its lead candidate, tarcocimab, following positive results from the phase III GLOW study for treating non-proliferative diabetic retinopathy, indicating potential for success in retinal disease therapeutics [1][6]. Group 1: Development Programs - Kodiak Sciences has initiated the pivotal phase III GLOW2 study for tarcocimab, with patient enrollment actively ongoing and expected completion by the end of 2024 [2]. - The company plans to advance KSI-501 into a phase III study, DAYBREAK, to evaluate its efficacy in wet AMD, with tarcocimab also being studied in this trial [18]. - The company is also preparing to begin enrollment in the APEX study for KSI-101, targeting retinal inflammation, with pivotal studies expected to start later in 2024 [10][19]. Group 2: Financial Position - As of March-end, Kodiak Sciences reported cash, cash equivalents, and marketable securities totaling $245.9 million, sufficient to support operations into 2026 [20]. Group 3: Market Potential - The success of the GLOW2 study could lead to a biologics license application for tarcocimab, potentially marking the company's first product in its commercial portfolio [16][21]. - KSI-101 represents a new market opportunity, targeting inflammatory conditions of the retina, which is currently underserved by existing therapies [9]. Group 4: Stock Performance - Year to date, shares of Kodiak Sciences have declined by 14.1%, compared to a 7.9% decline in the industry [3].

Core Viewpoint - Kodiak Sciences Inc. has experienced a significant decline in share price, losing approximately 26.2% over the past month, underperforming the S&P 500 [1] Financial Performance - For Q1 2024, Kodiak reported a loss per share of 82 cents, which was narrower than the Zacks Consensus Estimate of a loss of $1.09, and an improvement from a loss of $1.35 per share in the same quarter last year [10] - Research and development expenses were reported at $29.9 million, reflecting a 47% decrease year over year, primarily due to the conclusion of some clinical studies on its lead pipeline candidate, tarcocimab [3] - General and administrative expenses amounted to $16.1 million, down 11% year over year, mainly due to lower non-cash stock-based compensation expenses [11] Cash Position - As of March 31, 2024, Kodiak had cash, cash equivalents, and marketable securities totaling $245.9 million, a decrease from $285.5 million as of December 31, 2023. The company believes this cash balance is sufficient to support its operations into 2026 [4] Market Outlook - Estimates for Kodiak Sciences have trended upward over the past month, with a consensus estimate shift of 15.48% [5][12] - The company holds a Zacks Rank 3 (Hold), indicating an expectation of an in-line return in the coming months [17] Industry Comparison - Kodiak Sciences operates within the Zacks Medical - Biomedical and Genetics industry, where another player, Halozyme Therapeutics, has seen a 9.3% gain over the past month [7] - Halozyme Therapeutics reported revenues of $195.88 million for the last quarter, representing a year-over-year increase of 20.8% [18]

Core Insights - Kodiak Sciences Inc. is focused on developing transformative therapeutics for retinal diseases and will present at several upcoming investor conferences [1][2][7] - The company is advancing a clinical pipeline that includes three product candidates, with two in late-stage development [3][4][5][6] Company Overview - Kodiak Sciences is a biopharmaceutical company dedicated to treating retinal diseases using its proprietary ABC Platform™, which integrates protein-based and chemistry-based therapies [3] - The company aims to address leading causes of blindness globally through innovative drug design and development [3] Clinical Pipeline - Kodiak's lead product, tarcocimab, is an anti-VEGF antibody biopolymer conjugate targeting diabetic retinopathy and wet age-related macular degeneration [4] - KSI-501, a bispecific antibody biopolymer conjugate, is designed to treat retinal vascular diseases by inhibiting IL-6 and VEGF pathways, with Phase 3 studies expected to begin mid-2024 [5] - KSI-101, an unconjugated protein candidate, is being developed for retinal inflammatory diseases, filling a gap in current treatment options [6] Upcoming Events - Kodiak will participate in the Clinical Trials at the Summit 2024 on June 8, where presentations on its clinical pipeline will be made [2] - The company will also present at the Jefferies Healthcare Conference on June 6 and the Goldman Sachs Global Healthcare Conference on June 13 [7][8]

Kodiak Sciences Inc. (KOD) reported first-quarter 2024 loss per share of 82 cents, narrower than the Zacks Consensus Estimate of a loss of $1.09. The company had incurred a loss of $1.35 per share in the year-ago quarter. Currently, KOD does not have any approved products in its portfolio. As a result, it is yet to generate revenues. Quarter in Detail Research and development expenses were $29.9 million in the reported quarter, down 47% year over year. The decrease was mainly due to the reduction in expense ...

Financial Performance - Kodiak Sciences reported a net loss of $43.0 million for the three months ended March 31, 2024, a decrease of $27.7 million compared to a net loss of $70.8 million in the same period of 2023[83]. - Net cash used in operating activities was $39.6 million for the three months ended March 31, 2024, compared to $47.2 million for the same period in 2023[97]. - The company experienced a net decrease in cash, cash equivalents, and restricted cash of $39.7 million for the three months ended March 31, 2024, following a net increase of $126.2 million in the same period of the previous year[96]. - The company has an accumulated deficit of $1,195.6 million as of March 31, 2024[90]. Research and Development - Research and development expenses totaled $29.9 million for the three months ended March 31, 2024, down $26.6 million from $56.5 million in the same period of 2023[84]. - Tarcocimab program expenses decreased by $20.2 million to $5.9 million in Q1 2024, primarily due to reduced clinical activities[84]. - KSI-501 program expenses increased by $1.4 million to $2.2 million in Q1 2024, attributed to increased manufacturing activities[85]. - Kodiak intends to conduct two additional Phase 3 clinical studies with tarcocimab, with the first patients treated in the GLOW2 study[71][73]. - The Phase 3 DAYBREAK study for KSI-501 is scheduled to begin patient screening in mid-2024, evaluating its efficacy and durability in wet AMD[67][76]. - KSI-101 is being developed for retinal inflammatory diseases, with plans to initiate a Phase 1b APEX study in June 2024[78]. - Kodiak has not generated any product revenue to date and does not expect to until regulatory approval is obtained for its product candidates[92]. Operational Challenges - The company continues to face significant uncertainties due to public health crises, geopolitical conflicts, inflation, and supply chain disruptions, which may adversely affect operations and capital resources[94]. - Adequate additional funding may not be available on acceptable terms, potentially impacting the company's financial condition and business strategies[95]. - The company may need to delay, reduce, or terminate some or all of its development programs and clinical trials if unable to raise additional funds when needed[95]. - Future debt financing may impose additional covenants that could restrict operations, including limitations on incurring additional debt and engaging in certain transactions[95]. Financial Reporting and Compliance - The company has not experienced material changes in its contractual obligations and commitments since December 31, 2023[98]. - There were no material changes to critical accounting policies during the three months ended March 31, 2024, as reported in the Annual Report for the year ended December 31, 2023[100]. - The company continues to monitor the impact of external events on the development and commercialization of its product candidates[94].

Exhibit 99.1 Kodiak Sciences Announces Recent Business Highlights and First Quarter 2024 Financial Results Palo Alto, CA — May 15, 2024 – Kodiak Sciences Inc. (Nasdaq: KOD), today reported business highlights and financial results for the quarter ended March 31, 2024. "We continue to make excellent operational progress with our three clinical programs of tarcocimab, KSI-501 and KSI-101, as well as on our duet and triplet research programs," said Victor Perlroth, M.D., Chief Executive Officer of Kodiak Scien ...