Loading...
•
Dec 31, 2019
Kodiak Sciences Q4 2019 Earnings Report
Kodiak Sciences reported financial results for Q4 2019, highlighted by progress in clinical trials for KSI-301 and strategic agreements for funding and manufacturing.
Key Takeaways
Kodiak Sciences reported a net loss of $15.6 million for the fourth quarter of 2019, with R&D expenses increasing to $12.8 million. The company ended the year with a strong cash position of $348.2 million, anticipating sufficient funds for operations for at least the next twelve months. Progress was marked by the advancement of KSI-301 through clinical trials and the establishment of key partnerships.
Initiated enrollment in the pivotal DAZZLE clinical trial for KSI-301 in treatment-naive wet AMD patients.
Completed recruitment for the Phase 1b study of KSI-301 in wet AMD, DME, and RVO patients.
Announced an accelerated registration strategy for KSI-301, including parallel pivotal studies and BLA preparation.
Entered into a royalty funding agreement for $225.0 million and closed a $317.4 million follow-on offering.
Kodiak Sciences
Kodiak Sciences
Forward Guidance
Kodiak Sciences anticipates ongoing clinical development of KSI-301 and the potential for regulatory submissions and approval.
Positive Outlook
- Potential licensure of KSI-301 in multiple indications.
- Sufficient cash reserves to fund operations for at least the next twelve months.
- Advancement of product candidates into later stages of development.
- Potential for successful development, approval, and commercialization of product candidates.
- Anticipated presentation of data at upcoming conferences.
Challenges Ahead
- Preliminary data for KSI-301 may not continue or persist.
- Cessation or delay of ongoing clinical studies.
- Future regulatory milestones may be insufficient for approval.
- Research and development efforts may fail.
- Adverse conditions in the general economic markets.