Kodiak Sciences reports Q1 EPS (82c), consensus ($1.07)

Kodiak ended Q1 with $245.9M of cash and cash equivalents and believes current cash will support current and planned operations into 2026. “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 CEO Victor Perlroth. “We are enrolling well in GLOW2 and remain on track to activate mid-year our next Phase 3 study DAYBREAK in wet AMD which is designed to investigate the efficacy, durability and safety of tarcocimab and KSI-501 in parallel against aflibercept. We also expect to initiate Phase 1b enrollment in June for the APEX study of KSI-101, our anti-IL-6, VEGF-trap bispecific protein, in patients with macular edema associated with inflammation. We were pleased to share the advancement on our growing repertoire of novel small molecules and biologics for the duet and triplet platforms at the ARVO 2024 Annual Meeting recently. The duets and triplets are designed as a modular platform that embeds diverse active pharmaceutical ingredients including small molecules, proteins, peptides, macrocycles, and oligonucleotides in the biopolymer backbone to enable high drug antibody ratio medicines with targeted, multi-specific, tailored modulation of biological pathways for ophthalmic and systemic diseases.”