Business
Kodiak Sciences Announces Second Quarter 2023 Financial Results and Recent Business Highlights
PALO ALTO, Calif., Aug. 14, 2023 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), a biopharmaceutical company committed to researching, developing and
About this update from Kodiak Sciences Inc
[{"type":"text","content":"PALO ALTO, Calif., Aug. 14, 2023 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases, today reported business highlights and financial results for the quarter ended June 30, 2023.\n\"We experienced a significant setback with the recently announced topline data for our Phase 3 GLEAM and GLIMMER studies in diabetic macular edema patients,\" said Victor Perlroth, MD, Chief Executive Officer of Kodiak Sciences. \"Tarcocimab demonstrated what we see as industry-leading durability together with solid potency, but an unexpected increased rate of cataracts appears to have been the main driver to missing the primary efficacy endpoint in both studies. In our concurrent DAYLIGHT study in age-related macular degeneration where we dosed patients on a high-exposure regimen of 12 monthly doses of tarcocimab, fewer tarcocimab treated patients had a finding of cataract than did aflibercept treated patients. Notwithstanding the negative primary results in GLEAM and GLIMMER, we have two positive Phase 3 studies with tarcocimab: the BEACON study in patients with retinal vein occlusion and the DAYLIGHT study in patients with wet AMD. Following the recent presentation of the GLEAM and GLIMMER data at the American Society of Retina Specialists (ASRS) annual meeting, we have heard encouraging feedback from the retina community that tarcocimab's 6-month durability profile might be compelling and important for many patients, especially in pseudophakic patients who have already had cataract surgery and make up as many as 40% of anti-VEGF treated patients. While Kodiak has made the business decision to wind down ongoing studies of tarcocimab as previously communicated, we are still evaluating a variety of future options for the tarcocimab program.\n\"We have also communicated that Kodiak will be advancing the KSI-501 clinical program,\" continued Dr. Perlroth. \"We are fortunate to have the active KSI-501 clinical program in our pipeline. KSI-501 is a first-in-class anti-IL-6 and anti-VEGF bispecific molecule, and we have completed enrollment of the multiple dose escalation Phase 1 study. The obvious question is why are we confident in advancing KSI-501 if it is based on the same platform as tarcocimab, ...