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Dec 31, 2022
Kodiak Sciences Q4 2022 Earnings Report
Reported business highlights and financial results for the fourth quarter ended December 31, 2022.
Key Takeaways
Kodiak Sciences reported a net loss of $70.4 million for the fourth quarter of 2022, with R&D expenses at $56.0 million and G&A expenses at $18.1 million. The company ended the quarter with $478.9 million in cash, cash equivalents, and marketable securities.
Completed enrollment in all four ongoing Phase 3 pivotal studies for tarcocimab.
Achieved mechanical completion of commercial scale manufacturing facility Ursus and began manufacturing commercial scale cGMP batches.
Broadened development pipeline with the filing of the Investigational New Drug (IND) application for KSI-501.
Continued progressing technology development with our “triplet” platform.
Kodiak Sciences
Kodiak Sciences
Forward Guidance
Kodiak Sciences anticipates several upcoming milestones, including the treatment of first subjects in the Phase 1 study of KSI-501 in DME in Q2 2023 and the announcement of topline data for ongoing Phase 3 pivotal studies of tarcocimab in Q3 2023.
Positive Outlook
- Treatment of first subjects in Phase 1 study of KSI-501 in DME, 2Q2023
- Announce topline data for ongoing Phase 3 pivotal studies of tarcocimab: GLEAM and GLIMMER, paired Phase 3 studies of tarcocimab in DME, 3Q2023 (expected July)
- Announce topline data for ongoing Phase 3 pivotal studies of tarcocimab: DAYLIGHT, Phase 3 study of tarcocimab in wAMD, 3Q2023
- Announce topline data for ongoing Phase 3 pivotal studies of tarcocimab: GLOW, Phase 3 study of tarcocimab in NPDR without DME, 3Q2023