Business
Kodiak Sciences Announces Recent Business Highlights and First Quarter 2025 Financial Results
PALO ALTO, Calif., May 14, 2025 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), today reported recent business highlights and financial results for the
About this update from Kodiak Sciences Inc
[{"type":"text","content":"PALO ALTO, Calif., May 14, 2025 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), today reported recent business highlights and financial results for the first quarter ended March 31, 2025.\n\n\"In the first quarter of 2025, we maintained a strong focus on execution. We look forward to sharing our progress at an Investor R&D Update scheduled for July 16, 2025 at 1:00pm Eastern Time. We aim to demonstrate that our vision for Kodiak 2.0 as a precommercial stage retina focused biotech company with a maturing portfolio of three promising Phase 3 assets on track for topline data in 2026 is well-supported by our science and our progress on execution,\" said Victor Perlroth, M.D., Chairman and Chief Executive Officer of Kodiak Sciences.\nRecent Business Highlights and Upcoming Catalysts\nWe plan to host an Investor R&D Update on July 16, 2025 at 1:00pm ET. The update will feature scientific, clinical and commercial perspectives across the Kodiak pipeline. The agenda is expected to include the following:\nTarcocimab:Phase 3 GLOW2 diabetic retinopathy study – expected timeline to topline dataPhase 3 DAYBREAK wet AMD study – update on enrollment completion and expected timeline to topline dataUpdate on Biologics License Application (BLA) facing activitiesKSI-501:Phase 3 DAYBREAK wet AMD study – update on enrollment completion and expected timeline to topline dataDiscussion on next clinical steps for KSI-501KSI-101:New APEX Phase 1b multiple dose clinical trial data in patients with Diabetic Macular Edema (DME)New APEX Phase 1b multiple dose clinical trial data in patients with Macular Edema Secondary to Inflammation (MESI)Discussion on clinical and regulatory plan for KSI-101 in MESI with projected timeline to topline dataPhase 3 MESI study design & initiation of Phase 3 trialsDiscussion on commercial opportunity for KSI-101First Quarter 2025 Financial Results\nCash Position\nKodiak ended the first quarter of 2025 with $138.9 million of cash and cash equivalents. We believe that our current cash will support our current and planned operations into 2026.\nNet Loss\nThe net loss for the first quarter of 2025 was $57.5 million, or $1.09 per share on both a basic and diluted basis, as compared to a net loss of $43.0 million, or $0.82 per share on both a basic and diluted basis, for the first quarter of 2024. The net loss for the quarter end...