Kodiak(US:KOD) Prnewswireยท2025-11-13 21:05Core Insights - Kodiak Sciences Inc. is experiencing strong momentum driven by positive clinical data and execution across its late-stage programs [2][3] - The company anticipates continued momentum into 2026 with multiple Phase 3 data readouts and a planned BLA filing [3] Recent Business Highlights - Follow-up data from the Phase 1b APEX study of KSI-101 showed significant vision improvements, with over 50% of patients achieving a 15-letter gain by week 20 [7] - The Phase 3 PEAK and PINNACLE studies of KSI-101 are enrolling patients faster than expected [7] - KSI-101's mechanism of action received validation at the American Academy of Ophthalmology meetings, highlighting its potential in treating macular edema [7] - Enrollment in the Phase 3 DAYBREAK study for tarcocimab and KSI-501 has been completed, with approximately 690 subjects enrolled [7] Upcoming Catalysts - Topline data for the Phase 3 GLOW2 diabetic retinopathy study is expected in Q1 2026 [7] - Topline data for the Phase 3 DAYBREAK study is anticipated in Q3 2026 [7] - KSI-101's Phase 3 PEAK study topline data is expected in Q4 2026, and PINNACLE study data in Q1 2027 [7] Financial Results - Kodiak ended Q3 2025 with $72.0 million in cash and cash equivalents [8] - The net loss for Q3 2025 was $61.5 million, or $1.16 per share, compared to a net loss of $43.9 million, or $0.84 per share, in Q3 2024 [9] - Research and development expenses increased to $50.5 million in Q3 2025 from $31.9 million in Q3 2024, driven by clinical activities [10] - General and administrative expenses decreased to $11.9 million in Q3 2025 from $14.8 million in Q3 2024 [11] Company Overview - Kodiak Sciences is focused on developing transformative therapeutics for retinal diseases, utilizing its proprietary Antibody Biopolymer Conjugate (ABC) platform [30][31] - The company is advancing three late-stage clinical programs targeting the $15 billion anti-VEGF market [31]