Kodiak Sciences Q3 2023 Earnings Report

Kodiak Sciences reported results for the quarter ended September 30, 2023, highlighting the reboot of the tarcocimab program and progress in the KSI-501 clinical program.

Key Takeaways

Kodiak Sciences reported a net loss of $50.0 million for the third quarter of 2023. The company ended the quarter with $345.7 million in cash and cash equivalents. The company is focusing on its pipeline of retinal disease prospects and plans to reboot the tarcocimab program.

Tarcocimab pivotal program: GLOW phase 3 study met its primary endpoint with a 29-fold increased response rate ratio.

KSI-501 clinical program: Phase 1 study of KSI-501 ABC has completed enrollment and dosing phases, with clinical data expected in Q1 2024.

Kodiak plans to develop both the KSI-501 ABC bioconjugate and the KSI-501 P unconjugated protein.

Kodiak ended the third quarter of 2023 with $345.7 million in cash and cash equivalents.

Previous year: -$1.47

-35.4%

Net loss per common share

-$0.95