Core Insights - Kodiak Sciences announced positive topline results from the GLOW2 Phase 3 study, demonstrating the superiority of Zenkuda (tarcocimab tedromer) over sham treatment in patients with diabetic retinopathy [1][3][4] Company Overview - Kodiak Sciences is a precommercial biotechnology company focused on developing transformative therapeutics for retinal diseases, with Zenkuda being a key product in their pipeline [1][26] - The company is advancing multiple late-stage clinical programs, including Zenkuda for diabetic retinopathy, retinal vein occlusion, and wet AMD [26] Study Results - In the GLOW2 study, 62.5% of patients treated with Zenkuda achieved a 2-step improvement in the Diabetic Retinopathy Severity Score (DRSS) at Week 48, compared to 3.3% in the sham group, achieving statistical significance (p<0.0001) [3][5][20] - Zenkuda also showed an 85% reduction in the risk of developing sight-threatening complications compared to sham (2.4% with Zenkuda vs 15.8% with sham, p=0.0001) [3][10][20] - The study included a diverse patient population, including those using GLP-1 medications, and demonstrated consistent efficacy across different patient demographics [7][31] Safety Profile - Zenkuda was well-tolerated, with a 0% rate of intraocular inflammation and a 2.3% cataract adverse event rate, comparable to the sham group [3][6][12] - The safety data supports the established safety profile of Kodiak's Antibody Biopolymer Conjugate (ABC®) platform [3][12] Future Plans - Based on the strong results from GLOW2, Kodiak intends to accelerate the Biologics License Application (BLA) submission timeline for Zenkuda [11][12] - The company is also exploring other therapies based on the ABC platform, including KSI-501 and KSI-101, with potential BLA submissions anticipated in 2026 [12][26]

Kodiak®, Kodiak Sciences®, ABC®, ABC Platform , and the Kodiak logo are registered trademarks or trademarks of Kodiak Sciences Inc. in various global jurisdictions. THE OPHTHALMOLOGY MEDICINES COMPANY 44th Annual J.P. Morgan Healthcare Conference January 12, 2026 1 Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding Kodiak's plans, commi ...

Core Insights - Kodiak Sciences Inc. reported significant advancements in its late-stage clinical assets, particularly focusing on the transformative potential of tarcocimab, KSI-501, and KSI-101 in treating retinal diseases [2][3]. Recent Business Highlights and Upcoming Catalysts - The company held an Investor R&D Day on July 16, 2025, showcasing new data and a commercial vision for its clinical assets [2]. - KSI-101 demonstrated rapid anatomical gains and visual acuity improvements in patients with macular edema secondary to inflammation (MESI) during the Phase 1b APEX study [5]. - Upcoming topline data for tarcocimab and KSI-501 is expected in 1Q 2026 and 3Q 2026, respectively, with KSI-101 data anticipated in 4Q 2026 to 1Q 2027 [5]. Financial Results - Kodiak ended Q2 2025 with $104.2 million in cash and cash equivalents, sufficient to support operations into 2026 [4]. - The net loss for Q2 2025 was $54.3 million, or $1.03 per share, compared to a net loss of $45.1 million, or $0.86 per share, in Q2 2024 [6]. - Research and development expenses rose to $42.8 million in Q2 2025 from $32.5 million in Q2 2024, driven by increased clinical activities [7]. Pipeline Programs - Tarcocimab is an investigational anti-VEGF therapy designed for extended durability in ocular tissues, with ongoing Phase 3 studies in diabetic retinopathy and wet AMD [9][10]. - KSI-501 is a bispecific therapy targeting IL-6 and VEGF, currently in the Phase 3 DAYBREAK study for wet AMD [17][19]. - KSI-101 is being developed for MESI, with ongoing Phase 3 studies (PEAK and PINNACLE) actively enrolling patients [22][26]. Digital Health Initiatives - The VETi program has made significant advancements in AI and machine learning, aimed at enhancing the company's commercial retina franchise [5]. Company Overview - Kodiak Sciences is focused on developing transformative therapeutics for retinal diseases, utilizing its proprietary ABC Platform to create next-generation retinal medicines [29].