Kodiak Sciences: Promising Pipeline and Strategic Differentiation Drive Buy RatingKodiak Sciences (Nasdaq: KOD) reported Q3 earnings and maintained guidance across its pipeline for near-term readouts with and tarcocimab. Recent updates include the Company’s release of 20-week APEX data with KSI-101 (an-IL6/VEGF) in macular edema secondary to inflammaon (MESI) paents, represenng an addional 8-weeks of data off-treatment (note here). Overall, these follow-up data showed incremental further improvements in best corrected visual acuity (BCVA) leers and sustained central subfield thickness (CST) reducons from baseline. As menoned in our note, those data provide further confidence as Kodiak moves towards pivotal PEAK & PINNACLE data with KSI-101, which connue to be expected in 2027, respecvely. This asset connues to be central to our thesis on Kodiak, considering compev e differenaon vs Roche's (Swiss: ROG.SW) compeng IL-6 monospecific asset vamikibart.