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Sep 30, 2020
Kodiak Sciences Q3 2020 Earnings Report
Reported business highlights and financial results.
Key Takeaways
Kodiak Sciences reported its Q3 2020 financial results, highlighted by the continued progress of its KSI-301 pivotal study programs in wet AMD, DME, and RVO. The company ended the quarter with a strong cash position of $380.5 million, expected to fund operations into 2022.
DAZZLE study of KSI-301 in wet age-related macular degeneration has only a handful of patients left to enroll.
GLEAM and GLIMMER studies in Diabetic Macular Edema and BEACON study in Retinal Vein Occlusion are enrolling.
Over 545 of the planned 550 patients have been enrolled in DAZZLE as of November 4, 2020.
Initiated two Phase 3 studies in DME (GLEAM and GLIMMER) and one Phase 3 study in RVO (BEACON) in the third quarter of 2020.
Forward Guidance
Kodiak Sciences anticipates several upcoming events and milestones.
Positive Outlook
- Complete enrollment in DAZZLE pivotal Phase 2b/3 randomized head-to-head study of KSI-301 against aflibercept in treatment naïve wet macular degeneration patients by year-end 2020
- Presentation on KSI-301 and Kodiak’s ABC Platform at Late Breaking Developments Part II of American Academy of Ophthalmology (AAO) 2020 Virtual Annual Meeting in November 2020
- Presentation of KSI-301 one-year data from Phase 1b study in wet AMD, DME and RVO cohorts at Angiogenesis, Exudation, and Degeneration 2021 – Virtual Edition meeting in February 2021
- Initiate pivotal Phase 3 randomized study of KSI-301 in non-proliferative diabetic retinopathy patients (the GLOW study) in early 2021
Historical Earnings Impact
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